Altitude International Completes Share Exchange Agreement with Breunich Holdings

Rhea-AI Summary

Altitude International Holdings, Inc. (OTCQB: ALTD) finalized a Share Exchange Agreement with Breunich Holdings, Inc. on July 6, 2021. Breunich Holdings operates multiple LLCs, including CMA Soccer and Altitude Wellness. This strategic move aims to transform Altitude International into a high-performance sports, education, and technology company with a debt-free balance sheet and scalable revenue streams. The agreement's finalization is subject to an audit of Breunich and its subsidiaries. CEO Greg Breunich expressed optimism about future growth and development following the merger, emphasizing targeted acquisitions and new initiatives.

Positive

• Completion of Share Exchange Agreement with Breunich Holdings enhances business potential.
• New ALTD has a debt-free balance sheet, providing a solid foundation for growth.
• Multiple scalable revenue streams anticipated from the merger, targeting high-performance sports and technology sectors.

Negative

• Final closing of the agreement is contingent on an audit, introducing uncertainty.
• Forward-looking statements carry risks, with potential for actual results to differ from expectations.

PORT ST. LUCIE, Fla., July 7, 2021 /PRNewswire/ -- On July 6, 2021, Altitude International Holdings, Inc. (OTCQB: "ALTD") entered into a Share Exchange Agreement (the "Agreement") with Breunich Holdings, Inc., a Delaware entity ("BHI"). BHI is a holding company with seven operating LLCs, including CMA Soccer, LLC, ITA-USA Enterprise LLC, Trident Water LLC, North Miami Beach Academy LLC, NVL Volleyball Academy LLC, Six Log Cleaning and Sanitizing LLC, and Altitude Wellness LLC.

"This day is the product of a lot of hard work from an extraordinary group of people, all of whom have reached the highest level of success in their chosen fields," said Greg Breunich CEO of ALTD. "We are excited to complete the critical first step needed to reinvent Altitude International.

"The 'Old ALTD' has given us a tremendous core of pioneers and scientists to build from, a loe debt free balance sheet, and rapidly growing breakthrough technologies, programs, and systems. Collectively, the New ALTD will be comprised of multiple scalable related revenue streams that merge into a high-performance sports, education and technology company."

The Final Closing of the Agreement is conditioned upon the completion of an audit of BHI and its subsidiaries. Following the Closing of the Agreement, BHI will be a wholly-owned subsidiary of the Company, with each of its subsidiaries operating as wholly-owned subsidiaries.

"While we were working on everything required to complete the January Merger LOI, we have been developing high growth strategies centered on a series of targeted acquisitions and the implementation of some major new initiatives and contracts for our existing businesses. We look forward to the opportunity to share our story with the investing public and taking Altitude International to the highest possible level," said Breunich.

SAFE HARBOR STATEMENT

This press release contains certain "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995, involving risks and uncertainties. There can be no assurance such statements will prove to be accurate and actual results and future events could differ materially from management's current expectations. The economic, competitive, governmental, technological and other factors identified in the Company's previous filings with the Securities and Exchange Commission may cause actual results or events to differ materially from those described in forward-looking statements in this press release. The Company undertakes no obligation to publicly update or revise any forward-looking statements whether result of new information future events or otherwise.

Media contact: Adrienne Mazzone 561-908-1683; amazzone@transmediagroup.com.

View original content:https://www.prnewswire.com/news-releases/altitude-international-completes-share-exchange-agreement-with-breunich-holdings-301327249.html

SOURCE Altitude International Holdings, Inc.

FAQ

What is the Share Exchange Agreement involving ALTD dated July 6, 2021?

Altitude International Holdings completed a Share Exchange Agreement with Breunich Holdings to enhance its business model.

What does the merger with Breunich Holdings entail for ALTD?

The merger aims to create a high-performance sports, education, and technology company with multiple revenue streams.

What are the conditions for finalizing the agreement between ALTD and Breunich Holdings?

The final closing is subject to an audit of Breunich Holdings and its subsidiaries.

What are the potential risks associated with ALTD's forward-looking statements?

Forward-looking statements involve risks that could lead to actual results differing from management's expectations.