Splash Beverage Group, Inc. (NYSE:SBEV) ("Splash," "Splash Beverage" or the "Company") today announced two significant actions designed to strengthen the Company's financial position and advance its previously announced NYSE American compliance plan.

The Company has successfully negotiated settlements with multiple legacy creditors representing approximately $3.3 million of accounts payable and accrued liabilities for aggregate cash consideration of approximately $550,000. As a result, Splash expects to recognize an approximate $2.75 million gain from the extinguishment of indebtedness, subject to final accounting review. The liability settlements announced today are expected to eliminate approximately 84% of the negotiated obligations while requiring only approximately 17% of their face value to satisfy those claims.

In addition, the Company's Board of Directors has approved a 1-for-4 reverse stock split of the Company's issued and outstanding common stock.

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.