360 Solutions Workforce Receives Full Forgiveness on $ 19.4 Million PPP Loans and Delivers 70% Total Debt Reduction



Sets the date for the second fiscal quarter and half year of the host country Conference call with investors financial results

NEW YORK, July 26, 2021 (GLOBE NEWS) – Personnel of 360 Solutions, Inc. (NASDAQ: STAF), a company that is pursuing an international buy-integrate-build strategy through the acquisition of local and international staffing organizations in the United States and the United Kingdom, today announced that it will host a conference call to report on its fiscal second quarter financial and financial results. in six months. Thursday, Aug 12, 2021 at 9:00 AM ET to discuss financial results, COVID-19 and recent positive business developments. A related press release will be issued after the market closes on 11 August 2021.

During the conversation, the management will discuss:

  • The recent full pardon of all $ 19.4 million PPP loans from the Small Business Administration (SBA) to the Company.

  • The balance sheet improved significantly with a 70.4% cumulative debt reduction over the past twelve months.

    • The 70.4% decrease in debt includes the repayment function resulting from the release of US $ 2,080,000 that had been held in escrow since the sale of FirstPRO to redeem the G Series preferred, and approximately $ 5.0 million paid on 23 July 2021 against outstanding Notes due September 30, 2022.

      • The Series G conversion feature gives Jackson Investment Group (JIG) the ability to convert all outstanding Series G and G-1 shares back into 12% bonds, which should be approximately $ 5.7 million. Management expects this transformation to take place shortly.

  • Annual growth in revenue and gross profit.

Group call
The conference call participant’s phone number is 323-794-2423. Participants must call at least five minutes before 9:00 am ET on August 12, 2021. http://public.viavid.com/index.php?id=145866… A repeat of the recorded call will be available for 90 days on the Company’s website (http://www.staffing360solutions.com/res.html). You can also listen to the call replay by dialing 844-512-2921 (international callers dial 412-317-6671) starting August 12, 2021 at 7:30 PM ET through August 15, 2021 at 11:59 PM ET. Use PIN 8035151.

About Staffing 360 Solutions, Inc.
Personnel of 360 Solutions, Inc. is implementing an international buy-integrate-build strategy through the acquisition of local and international staffing organizations in the United States and the United Kingdom. The company believes that the human resources industry offers opportunities for incremental acquisitions and, as part of its target consolidation model, is pursuing acquisitions in the areas of finance and accounting, administration, engineering, IT and light manufacturing. For more information visit http://www.staffing360solutions.com… Follow Staffing 360 Solutions on Facebook, LinkedIn and Twitter

Forward-looking statements
This press release contains forward-looking statements that may be identified with words such as “expect,” “eagerly await,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “estimate,” “Will”, “project” or words of a similar meaning. Forward-looking statements are not guarantees of future results, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the control of the Company and cannot be predicted or quantified; consequently, actual results could differ materially from those expressed or implied in such forward-looking statements. Such risks and uncertainties include, but is not limited to, our ability to maintain a listing on the Nasdaq Capital Market; market and other conditions; the geographical, social and economic impact of COVID-19 on the Company’s ability to conduct its business and, if necessary, raise capital in the future; weak general economic conditions and the level of capital expenditures of clients in the industries served by the Company; weakness or instability in financial and capital markets, which may lead to the postponement or cancellation of client capital projects or the inability of the Company’s clients to pay remuneration to the Company; termination of a contract or project with a major customer; delays or cuts in US government spending; credit risks associated with the Company’s clients; competitive market pressure; availability and cost of skilled labor; the level of the Company’s success in attracting, training and retaining qualified management and other personnel; changes in tax laws and other government regulations, including the impact of laws and regulations on health care reform; the ability to hold accountable for the business of the Company, including, but not limited to, the activities of temporary employees of the Company; fulfillment by the Company of contracts with clients; negative outcome of pending and future claims and litigation; government policies, laws or court decisions that are unfavorable to the business of the Company; the Company’s ability to gain access to capital markets by attracting additional debt and equity financing to finance its business plan and expenses on terms acceptable to the Company or in general; and the Company’s ability to comply with its contractual obligations, including with respect to its debt agreements, as well as various additional risks, many of which are currently unknown and, as a rule, are beyond the control of the Company and which are detailed in the reports from time to time. filed by the Company with the SEC, including quarterly reports on Form 10-Q, reports on Form 8-K and annual reports on Form 10-K. 360 Solutions staff assumes no obligation to update any of the statements contained in this document (including any forward-looking statements), except as required by law.

Investor Relations Contact:
Terry McInnis, VP of IR
Bibicoff + MacInnis, Inc.
818.379.8500 x 2 terri@bibimac.com


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