BFYW Announces Conversion of Nearly $352,000 of Outstanding Debt into Common Equity

BFYW Announces Conversion of Nearly $352,000 of Outstanding Debt into Common Equity
March 5, 2024

BFYW Announces Conversion of Nearly $352,000 of Outstanding Debt into Common Equity

Chairman of the Board and Chief Branding Officer exchange Deferred Compensation, Reinforcing Confidence in the Company's Future Direction

Better For You Wellness, Inc. (OTCM: BFYW) (the"Company"), a pioneering Ohio-based plant-based and science-focusedwellness company in the flourishing $1.5 trillion wellness industry, proudlydeclares the successful conversion of nearly $352,000 of outstanding debt intocommon equity.

This strategic move represents a reduction of more than 13% of theCompany's total liabilities as of the fiscal year ending February 28, 2024,marking a crucial milestone in the Company's financial roadmap.

The Debt Reduction initiative, sanctioned unanimously by the Boardof Directors as part of the BFYW Growth Initiative, involved issuing 87,995,763restricted common shares above market price at $0.004 per share. Thisconversion was executed at a premium to the last traded price per share,showcasing BFYW's commitment to fortifying its financial foundation.

During the fiscal year 2024, Chairman and CEO Ian James, alongsideChief Branding Officer Stephen Letourneau, demonstrated unwavering confidencein the Company's future by personally funding much of the operation and ensuringfunds went into the Company for brand development and deferring compensation of$199,196.08 and $152,786.97, respectively. In a bold move, both leadersconverted all their deferred compensation amounts into equity, eliminating$351,983.05 in liabilities from BFYW's balance sheet.

This significant Debt Reduction bolsters the Company's financialposition and positions BFYW to focus resolutely on its Growth Initiative,particularly emphasizing expanding its flagship product, the Stephen JamesCurated Coffee Collection.

Ian James, Chairman and CEO, expressed, "The conversionunderscores Stephen's and my unwavering belief in BFYW's potential andstrategic direction. We are confident that this move will enhance BFYW'sfinancial structure and send a powerful signal to investors and stakeholdersabout the promising future the Company has with BFYW's Growth Initiative andthe expansion of the Stephen James Curated Coffee Collection in Kroger andother grocers. We look forward to the exciting journey ahead as we embark onthis new chapter of expansion and success."

BFYWundertook a comprehensive competitive market analysis, meticulously examiningten key publicly traded coffee companies, which provided valuable insights intotheir TTM Revenue and Market Cap. Notably, several companies weatheredchallenges, and reporting negative price-to-earnings: conversely, the BFYWgrowth initiative projects break-even by the 20th month post-funding andsustained profitability in the foreseeable future. The vivid results of thisanalysis reinforce BFYW’s conviction in taking brands to the public market,underlining the substantial growth potential awaiting investors in BFYW Stock.