WILTON MANORS, FL / ACCESSWIRE / June 6, 2019 / LGBTQ Loyalty Holdings, Inc. (OTC PINK: LFAP), a publicly traded company which intends to deliver financial and marketing platforms specific to the LGBTQ community, has entered into a Securities Purchase Agreement with New York based Pride Partners LLC pursuant to which LGBTQ Loyalty will receive $500,000 in cash in consideration for a promissory note in the principal amount of $550,000 and a warrant. If Pride Partners exercises it's warrant in full, LGBTQ will receive an additional $669,000 in funding. LGBTQ Loyalty CEO Bobby Blair added ''We are pleased to have Pride Partners outstanding support and this funding represents a milestone in the execution of our strategic business plan which includes the sponsorship and license of the LGBTQ Loyalty Index and our LGBTQ Loyalty Index Partner programs. It's thrilling to announce this consequential company accomplishment during this historic 50 Year Anniversary of Stonewall in the Pride month of June.''
"This funding will allow us to advance our business operations with the goal of building a pathway for the LGBTQ community to support the companies that are strong supporters for equality. We have assembled a strong Board of Directors, who are dedicated to pursuing equality and LGBTQ advocacy with far reaching impact in both the LGBTQ and the business communities." Blair added.
Cliff Teller, president of Pride Partners, added "We take pride in empowering all communities and, in support of that mission, Pride Partners is proud to partner with LGBTQ Loyalty in its efforts to empower the LGBTQ and investor communities."
The LGBTQ Loyalty Index will be the first "Preference" Index Fund to survey a representative group of LGBTQ consumers to determine the top 100 companies that best support and are aligned with the LGBTQ community. It is expected that the S&P 500 will represent the universe of companies surveyed. LGBTQ economists have repeatedly stressed the value of the LGBTQ brand loyalty to corporations and we believe that linking LGBTQ consumers with the companies that support them is a tremendous step forward economically and socially. In 2017, LGBTQ consumer buying power was over $917 billion in the US market alone. LGBTQ Loyalty's business strategy is targeted and aligned with the $3.7 trillion purchasing power of the LGBTQ consumer demographic worldwide.
More than 450 million people identify themselves as LGBTQ worldwide and the LGBTQ community is composed of some of the most loyalty driven consumers in the world. Same-sex households have a 23 percent higher median income compared to mainstream households. The LGBTQ consumer is 1.23 times more likely to buy brands that reflect their lifestyle and 1.56 times more likely to consider themselves a spender rather than a saver. Fortune 500 companies have mandated diversity and equality as part of their corporate culture and marketing outreach, and LGBTQ Loyalty intends to become a leading conduit between this incredibly powerful consumer group and respective LGBTQ social-impact driven companies and investors around the world.
About LGBTQ Loyatly Holdings, Inc
LGBTQ Loyalty Holdings, Inc intends to sponsor & license the first ever Loyalty Index that will provide the LGBTQ community the power to influence the selection of the TOP 100 CORPORATIONS Loyal to the LGBTQ community. The Index will be positioned as an ESG Fund, bringing an even further level of support for those investors seeking to align with Environmental, Social and Governance responsible corporations. We are building financial and media platforms, working with the most equality sensitive S&P 500 companies that represent a strong Loyalty to the LGBTQ community that supports our mandate for equality.
LGBTQ Loyalty Holdings, Inc.
2435 Dixie Highway
Wilton Manors, FL 33305
This release contains ''forward-looking statements'' as that term is used under the federal securities laws. Such statements may be identified by the use of words such as ''anticipate,'' ''believe,'' ''expect,'' ''future,'' ''may,'' ''will,'' ''would,'' ''should,'' ''plan,'' ''projected,'' ''intend,'' and similar expressions. These forward-looking statements are subject to various risks and uncertainties that could cause LifeApps actual results to differ materially from those currently anticipated, including risks and uncertainties relating to the Company's business, product development, marketing, and distribution plans and strategies. These and other factors are identified and described in more detail in the Company's filings with the Securities and Exchange Commission (the SEC) including the Company's annual report on Form 10-K for the year dated December 31, 2018 and filed with the SEC on April 16, 2019. The company does not undertake to update these forward-looking statements
SOURCE: LGBTQ Loyalty Holdings, Inc.
View source version on accesswire.com: