Pure Harvest Corporate Group Provides Corporate Update and Announces Significant Debt Reductions

Rhea-AI Summary

Pure Harvest Corporate Group (OTC: PHCG), a strategic holding company, announced significant progress in strengthening its balance sheet through debt reduction initiatives. The company successfully settled $2.4 million of debt through common stock issuance at $0.10 per share. Additionally, $1.8 million in liabilities were extinguished through voluntary debt forgiveness agreements with creditors.

CEO Richard Hawkins emphasized the company's commitment to streamlining its capital structure. Management indicated ongoing negotiations with remaining noteholders and creditors, anticipating further liability reductions in upcoming quarters to improve financial health and enable new strategic initiatives.

Positive

• Successfully settled $2.4 million in debt obligations through stock issuance
• Achieved $1.8 million in debt forgiveness through creditor agreements
• Ongoing constructive engagement with noteholders for additional debt restructuring

Negative

• Significant dilution for existing shareholders due to debt-to-equity conversion at $0.10 per share
• Company still carries remaining debt obligations requiring restructuring

GREENWOOD VILLAGE, Colo., June 26, 2025 (GLOBE NEWSWIRE) -- Pure Harvest Corporate Group, Inc. (OTC: PHCG), a strategic holding company focused on acquiring and restructuring undervalued businesses, today provided a corporate update highlighting its continued progress in strengthening the Company’s balance sheet.

As part of its ongoing restructuring efforts, Pure Harvest successfully settled $2,409,225 of outstanding debt obligations through the issuance of common stock at a fixed price of $0.10 per share. In addition, the Company reports that $1,841,930 in liabilities has been formally extinguished and removed from the balance sheet through voluntary debt forgiveness agreements with certain creditors.

“These actions reflect our commitment to streamlining the capital structure and creating a stronger foundation for future growth,” said Richard Hawkins, CEO and Chairman of Pure Harvest. “We appreciate the collaboration and support from our stakeholders during this transition.”

The Company continues to engage constructively with remaining noteholders and creditors to restructure additional debt through negotiated settlements. Management expects further reductions in liabilities in the coming quarters, contributing to improved financial health and positioning Pure Harvest for new strategic initiatives.

About Pure Harvest Corporate Group, Inc.

Pure Harvest Corporate Group, Inc. (OTC: PHCG) is a diversified holding company dedicated to strategic acquisitions and innovative solutions across various sectors. Through a vertically integrated approach, PHCG builds value by identifying and acquiring companies with high-growth potential, focusing on sustainable operations and scalable business models. The company leverages its operational expertise and resources to drive long-term growth and market expansion, creating shareholder value while meeting evolving industry demands.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations, estimates, and projections about the Company’s business and industry, management’s beliefs, and certain assumptions made by the Company. Words such as “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties, and assumptions that are difficult to predict. Actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including but not limited to, our ability to continue reducing liabilities, complete future acquisitions, secure funding, and successfully execute our business strategy. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise.

Company Contact

phcg.info.ir@gmail.com

FAQ

How much debt did Pure Harvest Corporate Group (PHCG) reduce in their latest announcement?

Pure Harvest reduced total debt by $4.25 million, comprising $2.4 million through stock issuance and $1.8 million through debt forgiveness agreements.

What was the stock price for PHCG's debt-to-equity conversion?

Pure Harvest issued common stock at a fixed price of $0.10 per share to settle the debt obligations.

Who is the CEO of Pure Harvest Corporate Group?

Richard Hawkins serves as the CEO and Chairman of Pure Harvest Corporate Group.

What are Pure Harvest's (PHCG) future plans regarding debt restructuring?

The company is actively engaging with remaining noteholders and creditors, expecting additional liability reductions in coming quarters to improve financial health and position for new strategic initiatives.