Nitches Announces Payoff of Convertible Notes

LAS VEGAS, July 21, 2022

LAS VEGAS, July 21, 2022 /PRNewswire/ -- Nitches Inc., (NICH) (the "Company") which blends high-tech with high-end fashion to create exclusive clothing lines and NFTs, today announced it has paid off all convertible debt notes to strengthen the company's financial standing. No debt conversions have been completed during John Morgan tenure as Nitches' CEO.

"We wanted to reward our investors who believed in our company and its mission to create high-quality capsule collections with celebrities, as well as develop leading edge authentication technology," said John Morgan, Nitches' CEO. "Our primary goal remains to bring the utmost value to our shareholders."

Nitches' recent clothing line with Voodo Fé is progressing at a rapid rate. Voodo Fé has received the final samples of the legacy collection that celebrates the genius of Miles Davis, one of the greatest musicians of all time. Voodo Fé's team is putting the final touches on the one-of-a-kind clothing items and creating a comprehensive retail distribution strategy.

All of merchandise will include Nitches' industry-changing Owner Verification System (OVS™), which proves the authenticity of its limited-edition clothing.. To verify ownership, Nitches sews a unique QR code into every item it manufactures. Buyers then scan these codes to register their products on the OVS mobile dApp.

About Nitches Corporation 

Nitches is a diversified technology and exclusive clothing company that blends high-tech with high-end fashion to design luxury clothing items and NFTs. We specialize in creating limited-edition athleisure and streetwear apparel and accessories that are sustainable, authentic and exclusive. We collaborate with fashion-forward influencers and celebrities to create capsule collections that reflect their vision and brand. We develop innovative technology to protect our intellectual property and prevent counterfeiting. Nitches strives for creativity, excellence and value in all that we do for our collaborators, customers and stakeholders. 

Forward Looking Statements:This press release contains forward-looking statements. The words "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. The Company has based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Some or all of the results anticipated by these forward-looking statements may not be achieved. Factors or events that could cause our actual results to differ may emerge, and it is not possible for us to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law. 

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SOURCE Nitches Inc.