Creatd Further Reduces Liabilities as Part of its Turnaround Strategic Plan

October 22, 2023

Collectively the company has reduced liabilities by $2.5M
Company remains in active discussions with bondholders

New York, NY – 10/23/2023 – Creatd, Inc. ($VOCL) ("Creatd" or the "Company") today announced an additional reduction of nearly $200K in its liabilities, advancing its strategic plan for financial stability. This initiative, along with the prior savings of approximately $2.3 million, culminates in a total reduction of nearly $2.5 million in liabilities, significantly strengthening the Company's balance sheet. Ongoing dialogue with bondholders resulted in extensions to 2/28/24 and is anticipated to further decrease the notes payable significantly.

As part of its capital-raising initiatives, Creatd, Inc. continues to explore the sale of up to 25% of its subsidiary, Vocal, Inc. Additionally, the Company is on track to launch its second Regulation Crowdfunding (Reg CF) campaign for its subsidiary and private media entity, OG Collection, Inc. This will be followed by anticipated spin-off of up to 50% of the entity to Creatd, Inc. shareholders of a to-be-announced record date. Collectively, these efforts are projected to reduce payables, debt, and total liabilities by as much as 50%, marking a pivotal step in Creatd’s financial turnaround strategy.

Jeremy Frommer, CEO and Chairman of Creatd, Inc., commented, “Our commitment to improving our financial structure is paying off. The substantial reduction in liabilities is a testament to the diligent efforts of the entire Creatd team. As we forge ahead, the ongoing discussions with bondholders and our capital-raising endeavors through the potential sale of a portion of Vocal, Inc. and the upcoming Reg CF for OG Collection, Inc., are expected to further bolster our financial position, enabling sustained growth and value creation for our shareholders.”

About Creatd, Inc.

Creatd, Inc. is a publicly traded digital holding company renowned for its commitment to innovation, transparency, and growth. Central to its operations is the flagship platform, Vocal—a pioneering social media and publishing platform designed to amplify user engagement and monetization.

Forward Looking Statements

Any statements that are not historical facts and that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, indicated through the use of words or phrases such as "will likely result," "are expected to," "will continue," "is anticipated," "estimated," "intends," "plans," "believes" and "projects") may be forward-looking and may involve estimates and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. We caution that the factors described herein could cause actual results to differ materially from those expressed in any forward-looking statements we make and that investors should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. New factors emerge from time to time, and it is not possible for us to predict all of such factors. Further, we cannot assess the impact of each such factor on our results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. This press release is qualified in its entirety by the cautionary statements and risk factor disclosure contained in our Securities and Exchange Commission filings.