OSL Holdings Inc (OTCMKTS:OSLH) has been making changes to its administration, while trying to recapitalize. The company recently announced the addition of Jonathan D’ Agostino, as acting VP of corporate development. With him, Mr. Jonathan, brings 14-years of financial experience in source capital and financial engineering. OSLH practices a socially conscious business model. The company’s new recapitalization move is estimated to be worth $5.8 million. This includes $2.8 million added to the working capital. The remainder would be used to refinance the company’s debt.
OSLH has been moving up in recent days, after it announced partnership with Cheryl Shuman. The two are now planning to launch their first joint venture, a series of luxury cannabis conferences. These would be aimed at the marijuana market and the growing number of investment opportunities it harbors.
The appointment of Mr. Jonathan comes at a very strategic time; the company can make use of his experience to make the most of these conferences and $5.8 million recapitalization. OSLH CEO, Bob Rothenberg, announced his delight at the addition of Jonathan. He stated that not only does he bring years of experience with him, but also links with a number of investors to help grow the company’s business.
As per the company’s report, the increase in working capital will be focused towards OSL’s product pipeline to accelerate their development. Additionally, part of this capital would also be used for expansion of the company retail outlets. The CEO stated that the move is a major milestone for the company and from here on the company can focus on long-term goals.
Additionally, the company would be hoping to grab the attention of investors at the conferences. Having a high profile executive in their midst can help the company do that. Accelerating the development of products in the pipeline would also encourage the new investors to place their trust in OSLH.
OSL Holdings Inc (OTCMKTS:OSLH) closed at $0.0139, after gaining 24.11% on May 20. The company has 641.94 million shares being traded in the market, with a 52-week range of $0.00-$0.07.