Primo Nutraceuticals Inc., Signs Share Acquisition LOI with Celebrity brand Beauty Kitchen
VANCOUVER, British Columbia, April 03, 2020 (GLOBE NEWSWIRE) — PRIMO NUTRACEUTICALS INC. (CSE: PRMO) (OTC: BUGVF) (FSE: 8BV) (DEU: 8BV) (MUN: 8BV) (STU: 8BV) (“Primo” or the “Company”) Pursuant to discussions with IIROC (Investment Industry Regulatory Organization of Canada) Primo’s board and management team are providing more clarity to its shareholders in regards to the press release issued on March 31st, 2020.
The Company has signed a non-binding letter of intent (LOI) with Heather Marianna, LLC, doing business as Beauty Kitchen, a Nevada company, (“Beauty Kitchen”). The LOI is non-binding and subject to possible change and the signing of a definitive agreement.Primo and Beauty Kitchen intend to draft and execute a definitive agreement (the “Definitive Agreement”) with detailed terms and conditions in the near future. Beauty Kitchen intends to incorporate a Canadian corporation, Marianna, Inc., (“Marianna, Inc.”) in which it will conduct operations in Canada. Primo will acquire an ownership interest of 25% of the common voting (TBC) shares in Marianna, Inc., for consideration to be determined in the Definitive Agreement. Primo wishes to inform its shareholders that the transaction described by the LOI is subject to change pending signing of the Definitive Agreement.On behalf of the Board of DirectorsPRIMO NUTRACEUTICALS INC.“Andy Jagpal”President and DirectorFor further information, please contact Zoltan, IR Representative at: 604-722-0305, or; email@example.com.To learn more about what this news means to the shareholders visit:www.primonutraceuticals.com
www.beautykitchenonline.comFORWARD LOOKING STATEMENTS: This news release contains certain forward-looking statements within the meaning of Canadian securities laws. Forward-looking statements are based on the expectations and opinions of the Company’s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
No regulatory authority has approved or disapproved the information contained in this news release.