Allstarhealth Brands And Advent Galaxy Agree To Halt The Joint Venture

Rhea-AI Summary

AllStar Health Brands Inc (ALST) has mutually agreed with Advent Galaxy to terminate their commercial agreement, initially intended for AllStar to acquire a shareholding and provide marketing services. Both parties have clarified that there are no remaining rights, obligations, or funding requirements from either side, and costs incurred will be covered individually. Despite the termination, AllStar expresses continued interest in Advent's goals and management, indicating potential future collaborations under a new agreement.

Positive

• AllStar expresses ongoing interest in Advent's goals and management.

Negative

• Termination of the agreement eliminates potential revenue streams from the partnership.
• Absence of financial backing from this venture could impact AllStar's growth strategy.

MIAMI, FL / ACCESSWIRE / May 26, 2022 / AllStar Health Brands Inc OTC PINK:ALST) ("AllStar" or "the Company") announces that Advent Galaxy ("Advent") and the Company have mutually agreed to terminate their previously disclosed commercial agreement ("The Agreement") in which AllStar was to acquire a shareholding in and provide marketing services to Advent.

In the meantime, both parties agree that there are no further accrued rights, entitlements, obligations, or funding requirements under the Agreement by either Advent or AllStar, that all costs incurred to date by either company are for their own account. The Confidentiality provisions of the Agreement shall remain in force and effect for a period of two years.

AllStar remains excited about and interested in Advent' s ambitious aims and goals and remain impressed with Advent's progress to date as well as the professionalism and competence of their management team. The two companies are both open to discussing new ways in which AllStar can assist Advent's intensive plans and have concluded that such arrangements would necessitate a new agreement.

For further information, please contact:

Source: AllStar Health Brands Inc.
Telephone: 416 918 6987
Email: peterw@firstnationalenergy.com
Website:www.allstarhealthbrands.com

SOURCE: Allstar Health Brands, Inc.

View source version on accesswire.com:
https://www.accesswire.com/702861/Allstarhealth-Brands-And-Advent-Galaxy-Agree-To-Halt-The-Joint-Venture

FAQ

What was the recent agreement termination involving ALST?

AllStar Health Brands Inc and Advent Galaxy mutually terminated their commercial agreement, which involved shareholding acquisition and marketing services.

What are the implications of the AllStar and Advent agreement termination?

The termination may eliminate potential revenue streams for AllStar and impact its growth strategy.

Is AllStar still interested in working with Advent Galaxy after the contract termination?

Yes, AllStar remains interested in Advent's goals and is open to future collaborations.

What costs will each company bear after the termination of the agreement?

Each company will cover their own incurred costs, as no further obligations exist under the terminated agreement.