$NWYU: New You, Inc. Merges with ST Brands to Create Holding Company for Global Cannabis-Related Products and Services
Result will be a platform to acquire, finance, and grow synergistic CBD operations and sales
CARLSBAD, Calif., May 12, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- New You, Inc. (OTCQB: NWYU) today announced, as disclosed in an 8-K dated May 7, entry into an exchange agreement with ST Brands, Inc., to expand into a holding company of assets that create, develop, market, and sell unique and proprietary cannabidiol (“CBD”) products and services to various segments of the global consumer market.
On May 6, 2021, ST Brands' principal Jason Frankovich was appointed to serve as the new Executive Chairman of the Board.
Ray Grimm will continue as our CEO and New You, Inc. will be the first operating entity to receive the benefits of the strategic resources.
"ST Brands brings years of cannabidiol-related product development expertise along with the capital resources necessary to capitalize on surging global demand for new and optimized CBD products," stated Mr. Grimm. "We are in advanced discussions to acquire several entities that lead their respective fields with the intention of applying our skills and networks to accelerating their top-line growth and improving profitability.”
Mr. Frankovich, age 46, is our new Executive Chairman of the Board of Directors. Since 2012, Mr. Frankovich has served as Founder and principal executive of ST Biosciences, a holding company for cannabis-related companies, where he oversees operations and business development. From 2008 - 2013, he served as partner and trade finance coordinator at the Atlas Investments group, where he specialized in project management of commercial real estate and multi-family investment portfolios. From 2012-2015, he served as partner in New York City-based Hard Beverages and Jetset in New York, a lifestyle beverage company. Previously, he served as Head of Commercial Banking for Concord Bankers and as Marketing Special Assistant at Ameriquest Mortgage Bankers.
About New You, Inc.:
New You, Inc. is a publicly-traded company (NWYU) that currently holds one subsidiary, NEWYOU LLC, a leading marketer and distributor of premium CBD products founded by CEO Ray Grimm Jr. A visionary entrepreneur and wellness industry pioneer, Grimm has founded six health and wellness companies growing three of them to over $50 million in sales in their first five years. New You, Inc. management will be focused on strategies to diversify revenue streams and develop new business models in the months ahead to determine which brands and/or products should be added.
Safe Harbor Act: Statements in this press release that are not based on historical fact are "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as "believe," "expect," "may," "will," "should," "could," "seek," "intend," "plan," "goal," "estimate," "anticipate" or other comparable terms. We believe expectations reflected in our forward-looking statements are reasonable, although we cannot guarantee achievements, future results, levels of activity, performance, or other future events. These statements are based on management's current expectations and actual results may differ from these forward-looking statements due to numerous factors, including risks related to our ability to raise additional capital, liquidity, revenue growth, operating results, industry, regulations, technology and products, any of which could cause us to not achieve some or all of our goals, or cause our previously reported actual results and performance to change or differ from future results, performance, or achievements, including those expressed or implied by such forward-looking statements. You should not place undue reliance on these forward-looking statements. Furthermore, the forward-looking statements contained herein are made as of the date of this press release, and we undertake no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this press release, unless otherwise required by law.
Contact:
info@stbrandsinternational.com
Source: New You Inc.
Result will be a platform to acquire, finance, and grow synergistic CBD operations and sales
CARLSBAD, Calif., May 12, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- New You, Inc. (OTCQB: NWYU) today announced, as disclosed in an 8-K dated May 7, entry into an exchange agreement with ST Brands, Inc., to expand into a holding company of assets that create, develop, market, and sell unique and proprietary cannabidiol (“CBD”) products and services to various segments of the global consumer market.
On May 6, 2021, ST Brands' principal Jason Frankovich was appointed to serve as the new Executive Chairman of the Board.
Ray Grimm will continue as our CEO and New You, Inc. will be the first operating entity to receive the benefits of the strategic resources.
"ST Brands brings years of cannabidiol-related product development expertise along with the capital resources necessary to capitalize on surging global demand for new and optimized CBD products," stated Mr. Grimm. "We are in advanced discussions to acquire several entities that lead their respective fields with the intention of applying our skills and networks to accelerating their top-line growth and improving profitability.”
Mr. Frankovich, age 46, is our new Executive Chairman of the Board of Directors. Since 2012, Mr. Frankovich has served as Founder and principal executive of ST Biosciences, a holding company for cannabis-related companies, where he oversees operations and business development. From 2008 - 2013, he served as partner and trade finance coordinator at the Atlas Investments group, where he specialized in project management of commercial real estate and multi-family investment portfolios. From 2012-2015, he served as partner in New York City-based Hard Beverages and Jetset in New York, a lifestyle beverage company. Previously, he served as Head of Commercial Banking for Concord Bankers and as Marketing Special Assistant at Ameriquest Mortgage Bankers.
About New You, Inc.:
New You, Inc. is a publicly-traded company (NWYU) that currently holds one subsidiary, NEWYOU LLC, a leading marketer and distributor of premium CBD products founded by CEO Ray Grimm Jr. A visionary entrepreneur and wellness industry pioneer, Grimm has founded six health and wellness companies growing three of them to over $50 million in sales in their first five years. New You, Inc. management will be focused on strategies to diversify revenue streams and develop new business models in the months ahead to determine which brands and/or products should be added.
Safe Harbor Act: Statements in this press release that are not based on historical fact are "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as "believe," "expect," "may," "will," "should," "could," "seek," "intend," "plan," "goal," "estimate," "anticipate" or other comparable terms. We believe expectations reflected in our forward-looking statements are reasonable, although we cannot guarantee achievements, future results, levels of activity, performance, or other future events. These statements are based on management's current expectations and actual results may differ from these forward-looking statements due to numerous factors, including risks related to our ability to raise additional capital, liquidity, revenue growth, operating results, industry, regulations, technology and products, any of which could cause us to not achieve some or all of our goals, or cause our previously reported actual results and performance to change or differ from future results, performance, or achievements, including those expressed or implied by such forward-looking statements. You should not place undue reliance on these forward-looking statements. Furthermore, the forward-looking statements contained herein are made as of the date of this press release, and we undertake no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this press release, unless otherwise required by law.
Contact:
info@stbrandsinternational.com
Source: New You Inc.
