BioLife Sciences Inc. (OTC Markets: BLFE) Announced Today That the Company Has Finalized a Definitive Agreement With Health Box LLC for the 100% Acquisition of the Orthomolecular Medicine and Natural Health Products Company

Rhea-AI Summary

BioLife Sciences (OTCPK: BLFE) has finalized a definitive agreement to acquire Health Box LLC, an Arizona-based company specializing in orthomolecular medicine and natural health products. The acquisition involves 1,000,000 shares of BioLife's common stock, pending due diligence. This strategic move aims to enhance BioLife's natural health products division, with expected benefits from Health Box's inventory, intellectual property, and sales channels. Nika Jaksic, CEO of Health Box, will join BioLife’s Board as COO, succeeding Dr. Nataliya Hearn, who is resigning.

Positive

• Acquisition broadens BioLife's portfolio in the natural health products market.
• Health Box's strong focus on quality and efficacy aligns with BioLife's strategic vision.
• Nika Jaksic's expertise in holistic nutrition and gerontology enhances leadership.

Negative

• Potential integration challenges may arise from the acquisition.

Henderson, Nevada, Feb. 01, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- BioLife Sciences (OTCPK: BLFE) is pleased to announce that it has finalized a definitive agreement (the “Agreement”) with Health Box LLC towards the 100% acquisition of the Arizona-based orthomolecular medicine and natural health products company.

Under the terms of the agreement, BioLife Sciences will acquire 100% of Health Box LLC, which will include (but is not limited to) all existing inventory, sales channels, customer lists, intellectual property, proprietary evidence-based formulations, and market research. For consideration of 1,000,000 shares in the common stock of the company pending completion of due diligence and the finalization of the definitive agreement of purchase of sale. The company offers a diverse mix of efficacious supplements, super food concentrates, nutraceutical formulations, and advanced orthomolecular and natural health products. Their commitment to efficacy is founded in extensive research focused on medicinal botanicals, micronutrients, dietary supplements, proprietary herbal blends, and apothecary style subscription services. Health Box LLC is committed to strict quality standards and superior raw ingredient selection in their line of proprietary products.

As set out and outlined in the now executed Acquisition Agreement, the Relationship Agreement clause provides for Nika Jaksic, the CEO of Health Box LLC, to be appointed to the Board of Directors’ position of COO of BioLife Sciences. Nika Jaksic will replace the Board of Directors’ seat previously held by Dr. Nataliya Hearn, who will be resigning as of today’s date, towards future endeavors. The Company thanks Dr. Hearn for her resounding support and expertise during her time on the Board. The Relationship Agreement also contains (among other matters), the immediate retirement of Claude Saravia, founding Director of Health Box LLC, who will step down to pursue other interests during this transitional phase.

Nika Jaksic is a Certified Nutrition Professional who specializes in holistic nutrition, and in providing customized science-based nutritional therapy and fitness planning. Ms. Jaksic has specialized knowledge in the field of aging and demonstrated acumen as it pertains to the development and execution of therapeutic programs--with a focus on quality-of-life enhancement. Ms. Jaksic has worked as a nutrition and activity coordinator for older individuals at long-term care facilities, where she provided and assisted with individualized dietary supplement and exercise programs for the elderly, the chronically ill and those with biochemical deficiencies. Prior to pursuing her passion for holistic nutrition and fitness, she held several senior-level positions with large corporations throughout North America. Ms. Jaksic is also a tireless advocate for the standardization and regulation of the supplements industry. She founded Health Box LLC in 2018 after spending years researching the relationship between aerobic fitness, nutritional therapy, meal planning, dietary guidance and proper botanical supplement intake within the field of gerontology, with a focus on the loss of brain tissue in aging humans. She has done extensive research into changes in brain function and cognition that accompany normal and abnormal aging, and how providing a healthy diet, efficacious supplements and regimented fitness can assist in counteracting these ailments.

“Joining BioLife Sciences provides a natural progression for Health Box LLC, as we become amalgamated with a company that specializes in commercialization and acceleration,” Nika Jaksic said. “BioLife shares our vision in not only providing people with safe, clean spaces to live and work in, but now we can take the next step together in ensuring that our clients receive adequate and safe supplementation intake to repair nutritional deficiencies, and we will lead the way in going above and beyond the requirements of FDA regulations and the Dietary Supplement Health and Education Act of 1994, to ensure we provide only the best nutritional supplements with the highest quality standard in the market today.”

With the acquisition of Health Box LLC, BioLife Sciences is simplifying its operating structure and reorganizing its current activities into three core business groups, each with clear opportunities to benefit the health of people and the health of the planet. The antimicrobial and disruptive technologies division will now be further boosted with the addition of the newly formed orthomolecular and natural health products division, which expands on the Company’s current preexisting health product offerings. Additionally, the company will continue to pursue, develop, partner, and assist innovative companies with the commercialization and acceleration of leading-edge technologies. BioLife Sciences’ new leadership structure will reflect its strategic vision and the organizational structure of a fully focused health, nutrition, and biosciences company.

“Our goal by acquiring Health Box LLC is to enhance and strengthen our natural health products division by ensuring a consistent and reliable source for our customers when it comes to nutrition, botanical supplements and customized nutritional plans for each person whose specific unique requirements may vary from others,” Mr. De Four, CEO of BioLife Sciences, said.

Dietary supplement intake is common in the United States, with over half of the U.S. population having consumed at least one dietary supplement. The global herbal supplements market is projected to reach 86.74 billion (USD) by 2022 with a CAGR of 6.8% from 2016 to 2022. Single herb supplements grew by 14.5% in 2020 while combination-herb supplements grew by 24.7%. This growth was driven by supplements which addressed immunity, sleep support, and brain health, as well as mood and mental wellness, with those categories growing by 30%.

About BioLife Sciences Inc.

BioLife Sciences Inc. specializes in moving innovative products from the lab or small-scale production into wider market adoption. Its core business develops, licenses and distributes antimicrobial products and disruptive technology. One of BioLife Sciences’ core building block strategies is to develop, partner and assist innovative companies with the commercialization of leading-edge technologies.

About Health Box LLC

Health Box LLC offers advanced, high-quality, orthomolecular medicine including micronutrients, medicinal herbal supplements, botanicals and holistic merchandises. The company also specializes in hemp sourced CBD and introduced the first CBD subscription health box to the United States market.

Disclaimer

The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Forward-looking statements in this news release include, but are not limited to, the ability of the Corporation to complete a qualifying transaction. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Corporation believes that the expectations reflected in forward looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove to be correct. Except as required by law, the Corporation disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.

Contact Information:

www.biolifesciences.com

ir@biolifesciences.com

US & Canada: 1 (833) 919-1037

FAQ

What is the recent acquisition by BioLife Sciences involving BLFE?

BioLife Sciences has acquired Health Box LLC for 1,000,000 shares of its common stock to enhance its natural health products division.

Who will be appointed as COO of BioLife Sciences after the acquisition?

Nika Jaksic, CEO of Health Box LLC, will be appointed as COO of BioLife Sciences.

How does the acquisition of Health Box LLC benefit BioLife Sciences?

The acquisition expands BioLife's offerings in orthomolecular medicine and brings in valuable inventory, sales channels, and proprietary formulations.

When was the acquisition of Health Box LLC announced?

The acquisition announcement was made on February 1, 2022.

What market does Health Box LLC operate in?

Health Box LLC operates in the orthomolecular medicine and natural health products market, focusing on high-quality dietary supplements.