Full Alliance Group, Inc. (FAGI), Issues Shareholder Update

Rhea-AI Summary

Full Alliance Group, Inc. (FAGI) has renegotiated terms to sell back its Nutra Yu subsidiary assets at a profit while securing royalties for the next five years. New CEO Rudy Kiste emphasized that this move will provide necessary cash for strategic plans in 2020 and 2021, while benefiting from Nutra Yu's growth. CFO Rudy Kiste has been elevated to CEO, with Ryan Gresham joining the Board. The company expressed optimism about the profitability of Nutra Yu's product line in recent quarters.

Positive

• Profitable sale of Nutra Yu subsidiary assets with continued royalty stream.
• CFO Rudy Kiste promoted to CEO, indicating leadership continuity.
• Addition of Ryan Gresham to the Board enhances strategic oversight.

Negative

• None.

LOS ANGELES, CA / ACCESSWIRE / August 10, 2020 / Full Alliance Group, Inc. (FAGI), issues Shareholder Update.

Full Alliance Group, Inc (OTC PINK:FAGI) is pleased to announce that it has renegotiated terms with its Nutra Yu subsidiary. The Company as agreed to sell back Nutra Yu's assets, at a profit, and still maintain royalties for the next 5 years.

In addition, the company has announced that long-time CFO Rudy Kiste has been promoted to the role of CEO and President. Ryan Gresham will be added to the Board of Directors to replace Dr Brian Volpp and assume the role of Corporate Secretary. Dr Volpp will assist Mr Kiste during the transition and will remain with the company, this time with a new role as head of FAGI's Medical Advisory Board.

"We are excited that we were able to not only sell our Nutra Yu subsidiary for a profit, but also negotiate a royalty agreement at the same time. This will not only give Full Alliance cash needed for our 2020 and 2021 strategic plans, but will also allow us to tap into the growth of Nutra Yu at the same time. The profits seen with the Nutra Yu product line over the past quarter have been impressive," said new CEO Rudy Kiste. "On a separate note, we are excited with the new changes and additions to our executive and director boards. I am looking forward to taking on my new position with the company, so that Dr Volpp can focus on the medical consulting and strategic planning that is needed to better support our EBO2 subsidiary. And I am also excited to add someone with Ryan's business acumen to our Board of Directors."

Sincerely,

Rudy Kiste
CEO & President
Contact: InvestorRelations@FullAlliance.com

About Full Alliance Group Inc. (FAGI)

Full Alliance Group Inc. (FAGI) is a multi-faceted holding company with varied interests in banking and point-of-sale (POS) technology, financial services, real estate, and nutraceuticals. Full Alliance Group (FAGI) provides investment capital, modern business practices, and best-in-class management to assist growing companies to reach their greatest potential.

FORWARD-LOOKING STATEMENTS

This shareholder update may contain a number of forward-looking statements. Words and variations of words such as: "expect", "goals", "could", "plans", "believe", "continue", "may", "will" and similar expressions are intended to identify our forward-looking statements, including but not limited to: our expectation for growth, benefits from brand-building, cost savings and margins. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond our control, which could cause our actual results to differ materially from those indicated in our forward-looking statements. Such factors include, but are not limited to: continued volatility of, and sharp increase in: costs/pricing actions, increased competition, risks from operating internationally, consumer weakness, weakness in economic conditions and tax law changes.

SOURCE: Full Alliance Group, Inc.

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https://www.accesswire.com/600931/Full-Alliance-Group-Inc-FAGI-Issues-Shareholder-Update

FAQ

What recent changes occurred in Full Alliance Group Inc. (FAGI)?

FAGI announced the sale of Nutra Yu's assets for a profit and appointed Rudy Kiste as CEO, while adding Ryan Gresham to the Board.

What is the financial impact of the Nutra Yu sale for FAGI?

The sale allows FAGI to generate cash needed for their strategic plans in 2020 and 2021, while they will continue to earn royalties from Nutra Yu.

Who is the new CEO of Full Alliance Group (FAGI)?

Rudy Kiste has been promoted from CFO to CEO and President of FAGI.

What role will Ryan Gresham play in Full Alliance Group (FAGI)?

Ryan Gresham will join the Board of Directors and replace Dr. Brian Volpp as Corporate Secretary.