PureK Holdings Corp. to Acquire ‘TRUBAR’ Nutrition Brand in Latest Addition to Its Plant-Based Wellness Portfolio
VANCOUVER, British Columbia, March 03, 2021 (WORLD NEWSWIRE) — PureK Holdings Corp. (the “Company” or “PureK”) (TSX Endeavor: PKAN) is happy to reveal that it has actually carried out a binding term sheet (“LOI”) to get TRU Brands Inc. (“TRU BRANDS”), a leading health and health brand name focusing on healthy treats for females.
“We are thrilled to welcome TRU BRANDS into the PureK family. Their all-natural line of healthy snack offerings is a perfect fit for our holistic approach in the wellness space,” stated PureK CEO Kathy Casey. “With a loyal customer base and a demonstrated ability to innovate, TRU BRANDS is a wonderful asset to PureK’s growing clean-label, plant-based portfolio. It fuels our mission to enable wellness authentically every day.”
Established in 2018 under the female-led moms and dad business TRUWOMEN, TRU BRANDS has actually turned into a nationally-recognized brand name and is offered online and through significant U.S. merchants, consisting of Target and Costco. Their line of dessert-inspired protein bars are made with plant-based active ingredients such as cassava, cacao, and wild rice protein, and are licensed vegan, gluten-free and kosher, along with dairy and soy-free, non-GMO validated, and devoid of sugar alcohols.
“Gone are the days of sacrificing taste and texture. TRUWOMEN’s TRUBARS have pioneered an entirely new snacking category coined indulgent nutrition,” states TRU BRANDS CEO and Co-Founder Erica Groussman. “We’re beyond excited to join forces with PureK, whose values and mission, to innovate and expand the plant-based wellness sphere, deeply align with ours.”
The worldwide tailored retail nutrition and health market size was valued at 1.6 billion USD in 2019 and is anticipated to sign up a CAGR of 8.5% from 2020 to 2027, according to Grand View Research Study1. With tactical footprints in the health and health markets (including its acquisition this previous year of the charm brand name No B.S. Skin care), the Business has actually ended up being popular with the desirable millennial market, and has actually taken a holistic method to which brands it invites into its household. Offered TRU BRANDS track-record as a female-founded business, putting the health of its clients above all else, the acquisition is a natural suitable for PureK Holdings Corp.
Under the regards to the LOI, PureK will get 100% of the provided and impressive shares of TRU BRANDS pursuant to a conclusive arrangement to be participated in by the celebrations. Topic to specific popular changes on closing, the purchase cost to be paid by PureK will be USD$7,500,000 (the “Purchase
Price”). The Purchase Cost will be pleased through the issuance of typical shares of PureK at a rate per share equivalent to the 10 (10) trading day volume weighed typical trading cost of the shares on the TSX Endeavor Exchange (or such other acknowledged stock exchange upon which the shares are noted for trading) in the 10 (10) trading days instantly prior to the closing date of the Deal.
The celebrations participated in the LOI efficient March 2, 2021 and have actually started due diligence. The celebrations mean to finish the deal as quickly as is practicable and, based on satisfying conclusion of popular closing conditions and due diligence, will utilize commercially affordable efforts to participate in a conclusive arrangement as quickly as possible.
About PureK Holdings Corp.
PureK Holdings Corp. leads a worldwide omni-channel platform with varied possessions in the emerging plant-based and holistic wellness customer item classifications. The business’s objective is concentrated on leading development for the notified Millennial and Generation Z generations in the quickly growing plant-based, natural, and tidy component area. The business continues to concentrate on growth into high-growth customer item classifications consisting of CBD items, plant-based food and drink, and the worldwide animal care and skin care markets. For more details on PureK Holdings Corp., please check out https://purekana.com/investor-relations/.
For more info:
Chief Financial Officer
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Media and Financier Relations
Ph: +1 (917) 232-8960
Specific declarations included in this press release make up “forward-looking information” and “forward-looking statements” as such terms are utilized in suitable Canadian securities laws. Positive declarations and info are based upon strategies, expectations and quotes of management at the date the info is offered and go through specific elements and presumptions, consisting of, that the Business’s monetary condition and advancement strategies do not alter as an outcome of unpredicted occasions which the Business obtains regulative approval. PKAN’s responsibility to close will undergo TSX Endeavor Exchange approval and basic closing conditions for deals of this nature, consisting of, to name a few things, (i) precision of representations and service warranties and compliance with covenants and responsibilities, (ii) no product negative impact, (iii) the lack of lawsuits, limiting orders, injunctions or other legal restraints and (iv) invoice of necessary regulative and 3rd party authorizations, legal viewpoints, officers’ and secretary’s certificates, (v) finalizing of work contracts, or approval of existing work contracts with essential people as identified by PureK, (vi) other popular closing paperwork and conditions. Positive declarations and info go through a range of threats and unpredictabilities and other elements that might trigger strategies, quotes and real outcomes to differ materially from those predicted in such positive declarations and info. Elements that might trigger the positive declarations and info in this press release to alter or to be unreliable consist of, however are not restricted to, the threat that any of the presumptions described show not to be legitimate or trusted, that incidents such as those described above are understood and lead to hold-ups, or cessation in prepared work, that the Business’s monetary condition and advancement strategies alter, and hold-ups in regulative approval, along with the other threats and unpredictabilities suitable to the CBD or more comprehensive health markets and to the Business, and as stated in the Business’s Filing Declaration in regard of its certifying deal submitted under the Business’s profile at www.sedar.com. The Business carries out no responsibility to upgrade the positive declarations and info, besides as needed by suitable law.
Neither the TSX Endeavor Exchange nor its Policy Solutions Company (as that term is specified in the policies of the TSX Endeavor Exchange) accepts duty for the adequacy or precision of this press release.
1 Source; https://www.grandviewresearch.com/industry-analysis/personalized-retail-nutrition-wellness-market#:~:text=The%20global%20personalized%20retail%20nutrition,in%20the%20past%20few%20years
Jobber Wiki author Frank Long contributed to this report.