TPT Global Tech [OTCQB:TPTW] Exchanges $10.4M Of Liabilities For Mezzanine Equity In Preparation For Its Intended Up List To A Major US Stock Exchange

Apr 14, 2022

SAN DIEGO, CA / ACCESSWIRE / April 14, 2022 / TPT Global Tech, Inc. ("TPTW, the Company or TPT Global Tech") (OTCBB:TPTW) announced today that the company has exchanged $10.4M in liabilities for Mezzanine Equity. Holders of financing arrangements, accounts payable and lease agreements with the Company totaling $10,417,602 agreed to either forgive their balances owing to them by the Company or exchange their amounts outstanding as of March 31, 2022 for shares of TPT Global Tech Series E Preferred Stock. As such, 1,929,566 shares of Series E Preferred Stock were issued in exchange for $9,647,832 in outstanding financing arrangements, accounts payable or lease agreements and $769,770 was forgiven and will be recognized as a contribution to Mezzanine Equity.

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