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.”
Thrilled to announce during the first week of Pride month our substantial funding to expedite the launch of our LGBTQ Loyalty Index and our Corporate Loyalty programs. Thank you for your relentless support. Together we will be on the right side of history. #LGBTQINDEX
— Bobby Blair/CEO: LGBTQ Loyalty: Stock Symbol LFAP (@bobbyablair) June 6, 2019
“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.