Valiant Eagle Inc. (PSRU)
Sheds Significant Debt
Los Angeles,
CA -- February 23, 2021 -- InvestorsHub NewsWire
-- Valiant Eagle Inc. (OTC
Pink: PSRU) is pleased to announce that
it has shed a significant portion of its convertible debt. Xavier
Mitchell, CEO and significant debt
holder, has agreed to forgive all of his convertible debt to
increase profitability and make the balance sheet significantly
more attractive.
This new initiative will be
reflected in the March 31, 2021 disclosure statement filed with OTC
Markets Group Inc. The approximate amount of the debt is
$26,500,000.
Xavier
Mitchell's
forgiveness of the debt owed to him
will
allow the company
to become
profitable sooner than
anticipated. As a significant
preferred and common shareholder, he is
a direct beneficiary. Paying off the
convertible debt is not only fiscally responsible,
it
strengthens
the balance sheet and enables it to explore
new initiatives to help the company increase shareholder value in
2021.
Xavier Mitchell, CEO of
Valiant Eagle Inc. (OTC
Pink:
PSRU), states, "I have forgiven all of the
debt the company owes me. This was completed to align my interests more
closely with that of the common shareholders. Furthermore, this
will allow us to attract more institutional investors. Our annual
report for the period ending December 31, 2020, shows revenue of
$1,940,799, but our interest expense was $2,079,073. With a good
portion of the interest expense now eradicated, our path to
profitability is more apparent. We continue to
improve our capital structure to support our long-term timeline and
goals, and we believe Valiant Eagle
is
well-positioned for growth in 2021 and beyond."
Without the burden of debt
weighing on the Company,
Valiant
Eagle can
now dedicate its energy and funds to the many projects happening
under its subsidiaries like OKTV, Franchise X
Entertainment, Providence Film
Group, Xavier Media Group and ABA
Canada.
Updates will be
forthcoming.
Legal Notice
Regarding Forward-Looking Statements:
This press
release contains forward-looking information within the meaning of
section 27A of the Securities Act of 1933 and section 21E of the
Securities Exchange Act of 1934 and is subject to the safe harbor
created by those sections. This material contains statements about
expected future events
and/or financial results that are forward-looking in nature and
subject to risks and uncertainties.
That includes the possibility that the business outlined in this
press release cannot be concluded for some reason. That could
be as a result
of technical,
installation, permitting or other problems that were not
anticipated. Such forward-looking statements by definition
involve risks,
uncertainties and other factors, which may cause the actual
results, performance or achievements of Valiant Eagle, Inc. to be
materially different from the statements made herein. Except for
any obligation under the U.S. federal securities laws, Valiant
Eagle, Inc. undertakes no obligation to publicly update any
forward-looking statement as a result of new information, future
events or otherwise.
About Providence Film Group
Providence
Films is a Los Angeles based entertainment studio whose industry
offerings service the
multi-billion-dollar motion picture, television
and music
industries. Providence
Films foci consist of motion picture production, television
production, home video
acquisition and distribution, and the development of new
entertainment opportunities in an innovative and targeted
style.
Providence Film Group
http://providencefilmgroup.org/
About Valiant Eagle, Inc.
Valiant Eagle, Inc. (OTC
Pink: PSRU) is a
publicly
traded corporation
focused on the energizing of
celebrity entertainment, social media
and TV
communications. VE aims to achieve an
unparalleled advancement towards media through music, sports and,
with respect to the millennial generation, through technology.
Technology is an important part of our life especially in the last
century more than ever. With benefits such as speed, accuracy,
unlimited information and more, the internet has provided various
means of communicating without delay nor difficulty. However, a
level of consumer satisfaction has yet to be reached. Valiant
Eagle, Inc. looks to fill this void.
Valiant
Eagle, Inc.
Investor
inquiries: ir@valianteagle.net
Website: http://www.valianteagle.net
Twitter: @valianteagleinc
Facebook: @valianteagleinc