Labor Smart, Inc. Announces Letter of Intent to Acquire Illumination Holdings, Forging a Beverage and Snack Powerhouse
Labor Smart, Inc. (OTC PINK:LTNC) has announced a Binding Letter of Intent to acquire Illumination Holdings, Inc., a subsidiary of Illumination Brands, Inc. This acquisition aims to create a beverage and snack powerhouse, combining LTNC's celebrity and athletic partnerships with Illumination Holdings' extensive distribution network. Key highlights include:
- Illumination Holdings generated $30 Million in Revenues in 2023
- Distribution across 5000+ retail locations in Colorado, Southern Wyoming, and South Dakota
- Brad Wyatt to join LTNC as Co-CEO and Board member
- Acquisition of Legacy Distribution Group with 175+ years of industry experience
- Exclusive distribution rights for several popular brands
The deal is expected to close within two weeks, with LTNC delivering a mix of restricted common and preferred shares, partly performance-based.
Labor Smart, Inc. (OTC PINK:LTNC) ha annunciato una Lettera di Intenti vincolante per acquisire Illumination Holdings, Inc., una sussidiaria di Illumination Brands, Inc. Questa acquisizione mira a creare un colosso delle bevande e degli snack, combinando le partnership con celebri e atleti di LTNC con l'ampia rete di distribuzione di Illumination Holdings. I punti salienti includono:
- Illumination Holdings ha generato $30 Milioni in Fatturato nel 2023
- Distribuzione in oltre 5000 punti vendita in Colorado, nel sud del Wyoming e nel Sud Dakota
- Brad Wyatt si unirà a LTNC come Co-CEO e membro del Consiglio
- Acquisizione del Legacy Distribution Group con oltre 175 anni di esperienza nel settore
- Diritti di distribuzione esclusivi per diversi marchi popolari
Si prevede che l'affare si chiuda entro due settimane, con LTNC che offrirà una combinazione di azioni comuni vincolate e azioni privilegiate, in parte legate alle performance.
Labor Smart, Inc. (OTC PINK:LTNC) ha anunciado una Carta de Intención vinculante para adquirir Illumination Holdings, Inc., una subsidiaria de Illumination Brands, Inc. Esta adquisición tiene como objetivo crear un gigante de las bebidas y snacks, combinando las asociaciones de celebridades y atletas de LTNC con la amplia red de distribución de Illumination Holdings. Los aspectos destacados incluyen:
- Illumination Holdings generó $30 Millones en Ingresos en 2023
- Distribución en más de 5000 locales en Colorado, el sur de Wyoming y Dakota del Sur
- Brad Wyatt se unirá a LTNC como Co-CEO y miembro de la Junta
- Adquisición de Legacy Distribution Group con más de 175 años de experiencia en la industria
- Derechos de distribución exclusivos para varias marcas populares
Se espera que el acuerdo se cierre en dos semanas, con LTNC entregando una combinación de acciones comunes restringidas y acciones preferentes, en parte basadas en el rendimiento.
Labor Smart, Inc. (OTC PINK:LTNC)는 Illumination Holdings, Inc. 인수에 대한 구속력 있는 의향서를 발표했습니다. 이는 Illumination Brands, Inc.의 자회사입니다. 이번 인수는 LTNC의 유명 인사 및 운동선수와 Illumination Holdings의 광범위한 유통 네트워크를 결합하여 음료 및 간식 분야의 강력을 만드는 것을 목표로 합니다. 주요 하이라이트는 다음과 같습니다:
- Illumination Holdings는 2023년에 3000만 달러의 매출을 올렸습니다.
- 콜로라도, 남부 와이오밍, 사우스다코타에 5,000개 이상의 소매 매장에 유통
- Brad Wyatt가 LTNC의 공동 CEO 및 이사회 멤버로 합류
- 175년 이상의 산업 경험을 가진 Legacy Distribution Group 인수
- 여러 인기 브랜드에 대한 독점 배급 권한
이번 거래는 2주 이내에 마무리될 것으로 예상되며, LTNC는 일부 성과 기반의 제한된 보통주와 우선주를 혼합하여 제공할 것입니다.
Labor Smart, Inc. (OTC PINK:LTNC) a annoncé une Lettre d'Intention contraignante pour acquérir Illumination Holdings, Inc., une filiale d'Illumination Brands, Inc. Cette acquisition vise à créer une puissante entité de boissons et de snacks, combinant les partenariats de LTNC avec des célébrités et des athlètes avec l'énorme réseau de distribution d'Illumination Holdings. Les points forts incluent :
- Illumination Holdings a généré 30 millions de dollars de revenus en 2023
- Distribution dans plus de 5000 points de vente au Colorado, dans le sud du Wyoming et dans le Dakota du Sud
- Brad Wyatt rejoindra LTNC en tant que Co-CEO et membre du Conseil d'administration
- Acquisition de Legacy Distribution Group avec plus de 175 ans d'expérience dans le secteur
- Droits de distribution exclusifs pour plusieurs marques populaires
L'accord devrait être finalisé dans deux semaines, LTNC fournissant un mélange d'actions ordinaires restreintes et d'actions privilégiées, en partie basées sur la performance.
Labor Smart, Inc. (OTC PINK:LTNC) hat eine Verbindliche Absichtserklärung zur Übernahme der Illumination Holdings, Inc. angekündigt, einer Tochtergesellschaft der Illumination Brands, Inc. Diese Übernahme zielt darauf ab, ein Leistungszentrum für Getränke und Snacks zu schaffen, indem die Partnerschaften von LTNC mit Prominenten und Athleten mit dem umfangreichen Vertriebsnetz von Illumination Holdings kombiniert werden. Wichtige Highlights sind:
- Illumination Holdings erzielte 2023 einen Umsatz von 30 Millionen Dollar
- Vertrieb über 5000 Verkaufsstellen in Colorado, Südwyo, und South Dakota
- Brad Wyatt wird als Co-CEO und Vorstandsmitglied zu LTNC stoßen
- Übernahme der Legacy Distribution Group mit über 175 Jahren Branchenerfahrung
- Exklusive Vertriebsrechte für mehrere beliebte Marken
Der Deal wird voraussichtlich innerhalb von zwei Wochen abgeschlossen, wobei LTNC eine Mischung aus eingeschränkten Stammaktien und Vorzugsaktien, teilweise leistungsabhängig, bereitstellt.
- Acquisition expected to create a beverage and snack powerhouse
- Illumination Holdings generated $30 Million in Revenues in fiscal 2023
- Expansion of distribution network to 5000+ retail locations across three states
- Acquisition includes valuable distribution licenses for beer, wine, alcohol, and tobacco
- Exclusive distribution rights for popular brands like Xing Tea, Go Fast, and GOAT Fuel Energy
- Acquisition expected to accelerate LTNC's business plans by 3 to 5 years
- Potential shareholder dilution due to issuance of new shares for acquisition
- Integration challenges during the 3-6 month transition period with co-CEOs
- Performance-based share issuance may not materialize if milestones are not met
JACKSON, WY / ACCESSWIRE / July 23, 2024 / Labor Smart, Inc. (OTC PINK:LTNC) (the "Company" or "LTNC") today announced it has issued a Binding Letter of Intent to acquire Illumination Holdings, Inc. a wholly owned subsidiary of Illumination Brands, Inc., a leading beverage and snack incubator, brand portfolio owner, and wholesale distributor.
The acquisition is expected to create a beverage and snack powerhouse, enhanced by LTNC's valuable celebrity and athletic partnerships. These strengths will be combined with Illumination Holdings' expansive distribution network, which generated approximately
Coinciding with the acquisition, Brad Wyatt, Chief Executive Officer of Illumination Brands, Inc. and Illumination Holdings, Inc., will be appointed to the LTNC Board of Directors. Additionally, Mr. Wyatt will assume a Co-CEO role as counterpart to Tom Zarro, Chief Executive Officer of Labor Smart, Inc.
Mr. Wyatt and Mr. Zarro will Co-CEO during a 3-6 month integration period. Mr. Zarro will remain Chairman of the Board of Labor Smart, Inc. Scott Darnell, currently the Chief Strategy Officer of Illumination Holdings, Inc. will assume the role of Chief Strategy Officer of LTNC and be appointed to the LTNC Board of Directors.
Highlights of the acquisition include:
Legacy Distribution Group, the Direct Store Delivery (DSD) operation that was acquired from New Age Beverage boasts over 175 years of collective beverage and snack incubation and distribution in the Colorado market
Aspen Pure Water - Water brand with sales and distribution throughout Colorado
Beer, Wine, Alcohol and Tobacco distribution licenses
Exclusive distribution in Colorado of name brands such as Xing Tea, Go Fast, Aspen Pure, Rap Snacks, Karma, Recover 180, Cock n Bull, Jones Soda, Brew Dr. Kombucha, GOAT Fuel Energy, and more
The DSD's beverage incubator has aided in the initial brand development and regional market penetration for many nationally recognized brands specifically including Monster, Rockstar, C4, Tommy Knockers, Celsius, Smart Water, and more.
Tom Zarro, Chief Executive Officer of Labor Smart, Inc., stated, "This deal is the culmination of countless hours of work by both teams. I believe this acquisition will position Labor Smart and its combined subsidiaries to accelerate our business plans by 3 to 5 years. More than acquiring prized assets and a well-run operation, I can't overstate the top talent joining the Company as part of this acquisition and the doors it will open for our LOCK'DIN Brand of performance beverages."
Brad Wyatt, Chief Executive Officer of Illumination Brands, stated, "The sale of Illumination Holdings and its assets is a strategic move for both companies and their shareholders. Both sides of this acquisition complement one another in leadership, brand development, and a second to none drive to grow both topline revenue and profitability. Our collective future is very bright with planned future acquisitions and current distribution agreements. The immediate result will enhance the company's ability to create, grow, and profitability monetize our existing and future brands. Our shared goals and vision will guide us toward continued success. I am excited about the invitation to join the team at Labor Smart and look forward to the integration of our teams."
At the closing, Labor Smart, Inc. will deliver a mix of restricted common and preferred shares of LTNC to Illumination Brands, Inc. for Illumination Holdings. A large portion of the share issuance will be performance-based and subject to the achievement of certain milestones. This acquisition is anticipated to be the first of several.
All parties are working diligently to prepare and approve the Definitive Acquisition Purchase Agreement. The Company expects the closing to occur within the next two weeks.
About Labor Smart, Inc.
Labor Smart, Inc. is a holding company focused on assets in the beverage space. Its primary business is Next Gen Beverages, operating as LOCK'DIN™ Beverages. LOCK'DIN™ delivers life-changing, science-driven functional beverages formulated to provide athletes, entrepreneurs and everyday achievers safe and effective natural products that help improve performance and recovery without compromising health. The Brand offers four ready-to-drink beverages, including a world-class Hydrogen Water, a Nootropic Functional Drink, and a functional Coffee. The global brand is endorsed by World Famous Boxing Champion, Manny Pacquiao, who uses the products daily in his training regimen and is also an investor, shareholder and member of the company's Board of Directors.
About Illumination Holdings
Illumination Holdings is a vertically integrated distribution and brand incubation company focusing on creating new point-of-sales for consumer products while acquiring, innovating, and incubating brands owned by our company and clients. Boasting a distribution network of over 5000 large and small format locations ranging from independent and chain stores to hundreds of on-premise and non-traditional points of sales including high schools, hotels, commercial and government businesses.
About LOCK'DIN™ Beverages
LOCK'DIN™ delivers life-changing, science-driven products formulated to provide athletes, entrepreneurs and everyday achievers safe and effective natural products that help improve performance and recovery without compromising health. The Brand offers four ready-to-drink beverages, including a best-in-class hydrogen water, and a Nootropic functional Coffee.
LOCK'DIN™ is a global brand endorsed by World Famous Boxing Champion Manny Pacquiao who uses the products daily in his training regimen and is also an investor, shareholder and member of the company's Board of Directors.
Visit www.lockdin.com to try our products and experience what it means to be LOCK'DIN!
Safe Harbor Statement
This press release contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including our financial performance and projections, revenue and earnings growth, and business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as "may," "should," "expects," "anticipates," "contemplates," "estimates," "believes," "plans," "projected," "predicts," "potential," or "hopes" or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: (i) potential failure to meet projected development and related targets; (ii) changes in applicable laws or regulations that may impact our products and business; and (iii) other risks and uncertainties described herein, as well as those risks and uncertainties discussed from time to time in other reports and other public filings with the OTC Markets by the Company. These and other factors may cause our actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this press release and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties, and assumptions about us. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this press release and other statements made from time to time by us or our representatives might not occur.
CONTACT:
Investor Relations: ir@lockdin.com
Customer Service: customerservice@lockdin.com
www.lockdin.com | @LiveLockdIn
SOURCE: Labor Smart, Inc.
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