SOURCE: Labor SMART, Inc.

Labor SMART, Inc.

February 24, 2016 07:00 ET

Labor SMART, Inc. Extinguishes $800,000 in Convertible Debt

ATLANTA, GA--(Marketwired - Feb 24, 2016) - Labor SMART, Inc. (OTCQB: LTNC) (the "Company"), a leader in providing on-demand blue collar staffing primarily in the southeastern United States, today announced that since the beginning of the 4th Quarter 2015, the Company has eliminated over $800,000 in convertible notes payable through its structured cash payment agreements with noteholders.

Ryan Schadel, President and CEO of Labor SMART, Inc., commented, "We are making great progress as we reposition the Company for future growth. I look forward to providing updates on the many initiatives the Labor SMART Team is working on, including final elimination of convertible toxic debt from our balance sheet, the launch of our Skillcorps™ platform, our ongoing discussion surrounding The Staffing Group, Ltd., and our crowdfunding concept for future expansion."

About Labor SMART, Inc.
Labor SMART, Inc. provides On-Demand temporary labor to a variety of industries. The Company's clients range from small businesses to Fortune 100 companies. Labor SMART was founded to provide reliable, dependable and flexible resources for on-demand personnel to small and large businesses in areas that include construction, manufacturing, hospitality, event-staffing, restoration, warehousing, retailing, disaster relief and cleanup, demolition and landscaping. Labor SMART believes it can make a positive contribution each and every day for the benefit of its clients and temporary employees. The Company's mission is to be the provider of choice to its growing portfolio of customers with a service-focused approach that enables Labor SMART to be seen as a resource and partner to its clients.

Follow us on Twitter: @laborsmart
Investor Relations: @laborSMART_LTNC
CEO - Ryan Schadel: @CRyanSchadel

Safe Harbor Statement

This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Labor SMART, Inc., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may", "would", "will", "expect", "estimate", "can", "believe", "potential", and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Labor SMART, Inc.'s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in Labor SMART, Inc.'s filings with the U.S. Securities and Exchange Commission.

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