FOUNTAIN VALLEY, Calif., September 02, 2021 (GLOBE NEWSWIRE) – Fresh Farms E-Liquid, LLC (âFresh Farmsâ), a leader in the cannabis, e-liquids and vape industries, today announced that it has signed a letter of intent to merge with LFTD Partners Inc., a publicly traded company formerly known as Acquired Sales Corp. (OTCQB: AQSP) (www.LFTDPartners.com).
The letter of intent contemplates an aggregate merger consideration payable by AQSP to the owners of Fresh Farms consisting of $ 14,166,666 in cash, plus 7,083,334 unregistered common shares of AQSP valued at $ 31,450,003 based on price. closing of $ 4.44 per share of AQSP common stock on September 1. , 2021, for an aggregate merger consideration of $ 45,616,669.
Pursuant to the terms of the Letter of Intent, the planned acquisition of Fresh Farms by AQSP is subject to a number of conditions, including, but not limited to, the completion of a due diligence investigation and an acceptable audit of Fresh Farms, completion of a capital increase of at least $ 50 million by AQSP, completion of final acquisition documents, receipt of a tax opinion on the Fresh Farms merger, obtaining all necessary approvals and finalization of all necessary securities deposits. The acquisition will only be concluded if all of these conditions are met, which cannot be guaranteed.
Co-founded in 2018 by Anthony J. Devincentis, Jakob M. Audino, Forrest F. Town and John Z. Petti, Fresh Farms was born out of a desire to make high-end products available to anyone looking for alternatives. with traditional tobacco. Based in sunny Southern California, the Fresh Farms portfolio includes e-liquid brands submitted by the Fresh Farms and Fruitia Pre-Market Application (“PMTA”), tobacco-free nicotine vapor products and JUS products. superior quality delta-8-THC and delta-10- THC brand HAPPI. Fresh Farms products are available for sale in the United States, worldwide and online at www.FreshFarmsEliquid.com. Fresh Farms also owns 80% of CBD and CBN product maker Lift Brands North America LLC (www.LiftCBD.com).
If the transaction is completed, Fresh Farms will operate as a wholly owned subsidiary of LFTD Partners Inc. Anthony J. Devincentis, Jakob M. Audino, Forrest F. Town and John Z. Petti, co-founders and co-owners of Fresh Farms, will continue to operate ” serve as CEO, Director of Sales, Director of Sales and Board Member of Fresh Farms and Consultant to Fresh Farms, respectively, under multi-year employment contracts, and Anthony J. Devincentis join the internal executive management committee of the AQSP.
CEO and Co-Founder Anthony J. Devincentis commented, âFrom day one, the Fresh Farms team has worked tirelessly to achieve our goals, and this effort continues to bear fruit. So far this year, subject to audit, Fresh Farms has already doubled its turnover in 2020, from $ 8 million in 2020 to over $ 17 million since the start of the year in 2021 , including about $ 3.4 million in August alone. Additionally, Fresh Farms unaudited pre-tax profit since the start of 2021 is approximately $ 7 million. The idea of ââcombining our talents and strong figures with those of Lifted’s and Savage’s, in a public company, is exciting. We couldn’t be more excited to partner with LFTD Partners Inc., Lifted Made and Savage Enterprises. As a company, we’ve always strived for excellence, and our continued reinvestment in the best products and the best members of our team is paying off. From the start, we looked at areas of the markets that we could improve with through our quality, brand, partnerships, and openness to new ideas. This strategy has allowed us to stay at the forefront of current innovations and to move forward decisively with a keen understanding of the direction of the market. Our partnership with LFTD Partners Inc., Lifted Made and Savage Enterprises could not be better as Fresh Farms positions us as a true industry leader. LFTD Partners Inc. shares our vision and we are excited to be working with Chris Wheeler, Matt Winters, Nick Warrender and the Jacobs to shape the cannabis, e-liquids and vape industries for years to come.
LFTD Partners Inc. is committed to acquiring the best brands in the hemp, e-liquid, vape, kratom and kava product spaces. The wholly owned subsidiary of LFTD Partners Inc. is the award-winning Lifted Made hemp products company (www.LiftedMade.com). In June 2021, LFTD Partners Inc. signed a letter of intent to acquire Savage Enterprises (www.SavageEnterprises.com) and related entities, including its award-winning cannabis brand DeltaFX (www.DeltaEffex.com), which will close is subject to a number of contingencies.
Christopher G. Wheeler, Co-Founder, Co-Owner and CEO of Savage, said, âIt’s wonderful to see how far the guys at Fresh Farms have come in the last few years. Their growth is amazing, their chemistry is just like ours, and we believe that once the mergers are completed, Lifted, Savage and Fresh Farms will be an unstoppable combination.
Matt Winters, Co-Founder, Co-Owner and Chairman and Chief Financial Officer of Savage, said: âIt is fascinating to see how Lifted, Savage and Fresh Farms gravitate towards partnerships with industry competitors who share the same focus on the business. innovation, product quality, customer satisfaction, rapid growth and real profitability. I can’t wait to find out who will become our next partner!
About Fresh Farms E-Liquide, LLC
Born out of a desire to make high-end products available to anyone looking for alternatives to traditional tobacco, Fresh Farms sets an example. Based in sunny Southern California, its portfolio includes Fresh Farms and Fruitia premium vapor products, JUS tobacco-free nicotine vapor products, and premium HAPPI delta-8-THC and delta-10-THC products. Fresh Farms also owns 80% of CBD and CBN product maker Lift Brands North America LLC. Products are available in all 50 states and around the world. Life is an adventure. Enjoy the trip. More information is available at www.FreshFarmsELiquid.com and www.LiftCBD.com.
About LFTD Partners Inc., formerly known as Acquired Sales Corp.
LFTD Partners Inc., formerly known as Acquired Sales Corp. (ticker symbol OTCQB AQSP) is focused on acquiring fast growing companies that manufacture and sell branded products containing cannabinoids derived from hemp (e.g. delta-8-THC, delta-9-THC, delta-10 -THC, THCV, THCO, CBDA, CBC, CBG, CBN, CBD), e-liquid, disposable nicotine vapes, kratom and kava products. In February 2020, AQSP acquired 100% of Warrender Enterprise Inc. d / b / a Lifted Made (formerly d / b / a Lifted Liquids) (www.LiftedMade.com), now located in Kenosha, Wisconsin. Lifted Made owns a 50% stake in SmplyLifted LLC, which sells tobacco-free nicotine packets under the brand FR3SH (www.GETFR3SH.com). AQSP also owns 4.99% of CBD-infused drinks and products maker Ablis Holding Company (www.AblisBev.com), and artisanal distillers Bendistillery Inc. d / b / a Crater Lake Spirits (www.CraterLakeSpirits.com) and Bend Spirits, Inc. (www.Bendistillery.com), all located in Bend, Oregon. AQSP has also signed a letter of intent to acquire Savage Enterprises, owner of the award-winning hemp-derived brand DeltaFX (www.DeltaEffex.com) and the CBD brand Savage CBD (www.SavageCBD.com), and to enter in California marijuana. by purchasing Premier Greens LLC and MKRC Holdings, LLC, the closing of transactions of which is subject to a number of contingencies. Please read the documents filed by AQSP with the United States Securities and Exchange Commission, which describe in detail its business and associated risk factors. Learn more by subscribing to the AQSP newsletters at www.LiftedMade.com and www.LFTDPartners.com.
Caution Regarding Forward-Looking Statements Certain statements contained in this document are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. This information includes the growth and profitability strategies, as well as the products and future plans of Fresh Farms E-Liquid, LLC, Savage Enterprises, Lifted Made and LFTD Partners Inc. (formerly Acquired Sales Corp.) and related entities. These forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors that may cause or contribute to the actual results of operations of these companies or to the performance or achievements of these companies. companies differ materially from those expressed or implied by forward-looking statements. These companies do not undertake to publicly update forward-looking statements, whether as a result of new information, future events or otherwise. Actual results, performance or achievements could differ materially from those anticipated in these forward-looking statements due to certain other factors, including the risk factors set forth in documents filed by LFTD Partners Inc. with the United States Securities and Exchange Commission. United.
Fresh Farms E-Liquid, LLC
To the attention of : Patrick Taylor, Marketing Director
E-mail: [email protected]