WEST HOLLYWOOD, Calif., May 21, 2020 (GLOBE NEWSWIRE) -- LGBTQ Loyalty Holdings, Inc. (OTC PINK: LFAP) ("LGBTQ Loyalty" or “the Company”), a diversity and inclusion driven financial methodology company that quantifies corporate equality alignment with the LGBTQ community and minority interest groups, is pleased to announce that the Company has executed a term sheet for a $10,000,000 equity line of credit (“ELOC”) with Cavalry Fund I LP (“Cavalry”). "We believe that the ELOC will (i) provide the necessary funding to assist the Company in creating diversity and inclusion thematic preference Indices and becoming a niche ETF Sponsor, and (ii) create recognition for the Company as a leader in the LGBTQ equality and environmental, social, governance (“EGS”) marketplace." said CEO Bobby Blair
The term sheet provides that the Company may not sell shares of its common stock below an agreed upon price, which was included with the goal of preventing excessive dilution to our shareholders. The term sheet also provides that certain principal shareholders of LGBTQ Loyalty agree to a lock-up of their shares, with a length of time to be determined and provided in the definitive ELOC transaction documents.
LGBTQ Loyalty CEO Bobby Blair said, "We are pleased as a company over the past 7 months with the launch and listing of the LGBTQ100 ESG Index on the New York Stock Exchange (NYSE), the effectiveness of registration statement filed with the Securities and Exchange Commission with respect to the LGBTQ100 ESG ETF, and the assembly of our proprietary quantifiable data analytic reports. We feel it’s a wonderful opportunity and appropriate time for our LGBTQ community leaders to be aligned and engaged with us in our pursuit of Advancing Equality."
“As we continue to attempt to scale our business, Cavalry provides us with not only capital, but also strategic experience in our quest to become the leading global index platform to advance equality, maximize impact, and deliver performance for investors and the community globally.”
Since officially listing the LGBTQ100 ESG Index on the NYSE in October 2019, LGBTQ Loyalty’s index has out-performed the S&P 500 Index benchmark by over 2.0%.
About LGBTQ Loyalty Holdings, Inc.
LGBTQ Loyalty is a diversity and inclusion driven financial methodology company that quantifies corporate equality alignment with the LGBTQ community and minority interest groups. The Company has benchmarked the first-ever U.S. Loyalty Preference Index which the Company believes empowers the LGBTQ community to express their preferences for the nation's high performing corporations most dedicated to advancing equality. The Loyalty Preference Index, branded as LGBTQ100 ESG Index, is an ESG Index, offering an added perspective for those seeking to align with equality-driven ESG responsible corporations. LGBTQ Loyalty's leadership includes seasoned authorities in the financial industry and the LGBTQ community. www.lgbtqloyalty.com
About Cavalry Fund I LP
Cavalry Fund I LP is a privately held investment fund with a flexible and creative approach to investing in emerging growth companies. Cavalry Fund identifies investment opportunities with asymmetric risk/reward profiles by focusing on the underserved small cap market. Cavalry provides capital solutions to companies unable to access traditional funding sources.
CONTACT:
LGBTQ Loyalty Holdings, Inc.
750 N San Vicente Boulevard
Suite 800 West
West Hollywood, CA 90069
press@lgbtql.com
1-310-870-9661