HOLLYWOOD, FL, March 02, 2021 (GLOBE NEWSWIRE) -- Healthier Choices Management Corp. (OTC Pink: HCMC) (the “Company”) wishes to provide an update on the conversions of its Series C Convertible Preferred Stock (the “Series C Stock”) and other recent stock issuances.
As per the Company’s previous filings, on August 16, 2018, the Company entered into Warrant Exchange Agreements with certain holders of its Series A Warrants to exchange 46,048,318 Series A Warrants for 20,722 shares of its Series B Convertible Preferred Stock (the “Series B Stock”). The Series A Warrants acquired by the Company in that exchange represented approximately 92% of the outstanding Series A Warrants and would have been convertible into 460,483,180,000 shares of Company common stock if exercised as of the date of the Warrant Exchange Agreements. This exchange reduced the amount of common stock to be converted from the Series A Warrants from 460,483,180,000 to 207,220,000,000 – an approximate 45% savings in dilution for the company and its common stock shareholders