NetBrands Corp Signs Letter of Intent to Acquire Zero Gravity
Following last year’s announcement of its plan for M&A, we have identified a target to acquire and facilitate acquisition, NetBrands is under an LOI for a proposed business acquisition of Zero Gravity
ISLAND PARK, N.Y., April 22, 2024 (GLOBE NEWSWIRE) — NetBrands Corp., a Delaware corporation (the “Company”; OTC: NBND) announces that the company has issued a letter of intent and plan to acquire OMM Imports, LLC, Elevare Skincare LLC, and Market Innovations, LLC (“Zero Gravity”). Zero Gravity is a leading player in the skin care home use devices operating successfully since 2016. Their line of products is consistent of patented FDA-approved class II medical devices (“FDA Approved Products”), as well as other devices that aim to treat pain and hair loss. The technology used in the FDA Approved Products is based on LED and infrared light therapy to help individuals improve their skin health and appearance by fighting and slowing down the natural skin aging process. The FDA Approved Products demonstrated in clinical trials their effectiveness in improving overall skin health by fighting wrinkles, sunspots, and acne. The products are distributed in the USA and other 30 countries around the globe.
The combined company will focus on the advancement of new devices and complementary skin care creams and serums to complement its already strong product line which is distributed worldwide. The combined company will continue to operate with the same management team and co-founders under NetBrands Corp as it will seek to expand its reach via acquisitions in health, wellness, and beauty vertical. The acquisition will be contingent on the successful negotiation and execution of a definitive agreement with Zero Gravity and will be consummated through a combination of cash consideration shares of new common stock to be issued.
NetBrands Corp operates as a global holding company through several divisions, with one of its divisions being M&A searching to acquire eCommerce businesses in various verticals.
Last year, NetBrands Corp introduced a new business model with the goal of expanding its digital footprint organically and via acquisitions. Prior to this announcement NetBrands has reviewed over a dozen businesses and only was able to isolate a small number which had fit in its criteria and accepted on favorable terms.
“We are in full roll-up mode, and are confident that this business combination will pave the way for several new ecommerce acquisitions with positive cash flow in the future,” said Paul Adler, President & CEO of NetBrands Corp.
About NetBrands Corp
Headquartered in Island Park, NY – NetBrands Corp operates as a diversified holding company through several divisions with one of its divisions being M&A acquiring ecommerce assets as well as private business in various verticals and scales them up.
About Zero Gravity Skin
Zero Gravity invented a series of patented, FDA-approved medical-grade anti-aging devices using the most up-to-date science and technology available in our world today. A collection of our devices helps women and men battle against fine lines, wrinkles, sunspots, acne and even hair loss, without even leaving the house.
Safe Harbor Statement
Certain statements in this announcement are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, many of which, by their nature, are inherently uncertain and outside of the Company’s control and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements.
These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements in this news release include, but are not limited to, information concerning the ability of the Company to successfully achieve business objectives, and expectations for other economic, business, and/or competitive factors. Those assumptions and factors are based on information currently available to the Company. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: the ability of the Company to develop the Company’s brand and meet its growth objectives, the ability of the Company to complete acquisitions that are accretive to the Company’s revenue, the ability of the Company to obtain and/or maintain licenses to operate in the jurisdictions in which it operates or in which it expects or plans to operate. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward- looking statements and forward-looking information. The forward-looking information contained in this release is made as of the date hereof and the Company assumes no obligation to update or revise any forward-looking statements or forward-looking information that are incorporated by reference herein, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
The foregoing statements expressly qualify any forward-looking information contained herein. All subsequent written and oral forward-looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice.
Contact:
NetBrands Corp
Paul Adler, Chairman, President & CEO
800-550-5996
