Emergence Global Enterprises Inc. Announces Acquisition of Edge Nutrition (Canada) Inc.
Emergence Global Enterprises has completed the acquisition of Edge Nutrition (March 10, 2021), enhancing its portfolio in the natural health food sector. The transaction involves the issuance of 525,000 common shares, valued at $0.85 each. This strategic move aims to align with increasing consumer demand for organic foods and nutritional supplements, particularly amid the COVID-19 pandemic. With brands like BMF Hardcore and American Sports Nutrition added, Emergence Global seeks to strengthen its market presence targeting active lifestyle consumers.
- Acquisition of Edge Nutrition expands Emergence Global's brand portfolio.
- Strategic alignment with rising consumer trends towards organic natural foods and supplements.
- Addition of established brands like BMF Hardcore and American Sports Nutrition.
- The reliance on forward-looking statements introduces uncertainties regarding the realization of anticipated benefits.
- Potential risks associated with the nutraceutical and botanical industry may impact future performance.
WINDSOR, ON / ACCESSWIRE / March 10, 2021 / Emergence Global Enterprises Inc. ("Emergence Global" or the "Company") (CSE:EMRG) (OTCQB:ELOAF), an acquirer, creator, and builder of reputable natural health consumer foods, products, and brands, is pleased to announce that it has completed its acquisition of all of the issued and outstanding capital shares in the capital of Edge Nutrition (Canada) Inc. ("Edge") (the "Transaction"), a traditional and e-commerce company of branded all-natural foods, sports and nutrition specialty supplements targeting healthy & active lifestyles, keto, paleo, vegan and fasting conscious consumers. Edge Nutrition ® currently owns and operates a retail location in Windsor, Ontario, along with its e-commerce platform on www.edgenutrition.com. Edge also owns and operates retail brands under BMF Hardcore ® and American Sports Nutrition®. The acquisition was completed pursuant to a share purchase agreement (the "Purchase Agreement"), dated March 10, 2021. Under the terms of the Purchase Agreement, the sole shareholder of Edge (the "Vendor") received aggregate consideration of 525,000 common shares in the capital of the Company ("Common Shares") issued to the Vendor at the closing time. The Price per Share at the close of the market on the day prior was $.85.
According to Joe Byrne, President & CEO of Emergence Global Enterprises, "The acquisition of Edge Nutrition (Canada) Inc. provides a strategic addition to our long-term vision that aligns with our strong brands and businesses. Due to COVID-19, Emergence Global-related brands have seen significant activity as more people seek to improve their health using organic natural foods and nutritional supplements. We are also excited to add two great active lifestyle brands in BMF Hardcore ® and American Sports Nutrition ®, strengthening our consumer brand lineup and enabling us to target specific segments within the active lifestyle category. Driven by our mission to help others make a difference in their health, we continue to execute our plan in becoming a global vertically integrated player in the organic, natural food, and supplement marketplace.
Additional information about the Company can be found on SEDAR under the Issuer Profile of "Emergence Global Enterprises Inc." or on OTC MARKETS.
About the Company
Emergence Global Enterprises Inc. ("Emergence") is an acquirer, creator, and builder of reputable natural health consumer foods, products, and brands. Following the acquisition of Nubreed Nutrition, Inc., Emergence has become a North American developer and distributor of branded sports and nutrition specialty supplements. The Company is currently considering several development projects.
For further information on the Company, contact: Joseph Byrne, President & Chief Executive Officer and a Director at phone: 519-257-0460 or by email at: joe@emergenceglobalinc.com.
Cautionary Statement Regarding Forward-Looking Information
Forward-Looking Statements
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: closing and the terms and conditions of the proposed transaction; the business and operations of the Company after closing the proposed transaction. Forward looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; and the uncertainties surrounding the nutraceutical and botanical industry. 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. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward- looking statements, whether as a result of new information, future events or otherwise, except as required by law. There can be no assurance that the proposed transaction will occur or that the anticipated financial, economic or strategic benefits will be realized.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) or OTC Markets accepts responsibility for the adequacy or accuracy of this press release.
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SOURCE: Emergence Global Enterprises Inc.
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FAQ
What was the acquisition completed by Emergence Global Enterprises on March 10, 2021?
How many shares were issued to Edge's shareholder in the acquisition?
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