(TheNewswire)
DENVER, Colorado and VANCOUVER, British Columbia – TheNewswire - March 20th,2024 - Koios Beverage Corp.(CSE: FIT; OTC: FITSF) (the "Company" or"KOIOS”) is pleased to announce that ithas entered into a non-binding letter of intent dated March 19th, 2024(the “ LOI ”) with a leading Canadian based beverage company (the “Purchaser” ). The LOI outlines the terms for the potential sale of theCompany’s wholly owned subsidiary Koios Inc. (the “ Proposed Transaction ”).
The Proposed Transaction is subject to, among othermatters, a due diligence review by the Purchaser, board approvals ofthe Proposed Transaction by each party, execution of proprietaryrights agreements with certain key employees, the assumption of theCompany's premises lease obligations by the Purchaser, CSE approval,shareholder approval, if required, and the signing of a bindingdefinitive agreement (the " Definitive Agreement "). The purchaseprice will be negotiated and based upon certain principal assumptions,including the existence of strong relationships with existingcustomers, gross and annualized revenue metrics and the expectedresults of the Purchaser's due diligence.
The LOI is non-binding and neither the Company nor thePurchaser is under any obligation to enter, or continue negotiationsregarding the purchase price, the Definitive Agreement or to proceedwith the Proposed Transaction. Other than as specifically set out inthe LOI, no binding agreement will exist between the Company and thePurchaser relating to the Proposed Transaction unless and until theDefinitive Agreement has been finalized and executed.
The Company has agreed to a non-exclusivity negotiationwith a timeline of entering into the Definitive Agreement on or beforeApril 30, 2024, during this time, the Company can negotiate with othercompanies interested in partnerships with the Company. There can be noassurances that any component of the Proposed Transaction willproceed, nor can there be any assurance as to the final definitiveterms thereof.
On behalf of the Board of Directors of the Company,
KOIOS BEVERAGE CORP.
“Chris Miller”
Chris Miller, CEO, and Director
For further information, please contact:
Gina Burrus
844-255-6467
THE CANADIAN SECURITIES EXCHANGE (CSE) HAS NOT REVIEWEDAND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OFTHIS RELEASE.
About Koios Beverage Corp.
The Company is an emerging functional beverage companywhich has an available distribution network of more than 5,100 retaillocations across the United States in which to sell its products.Koios has relationships with some of the largest and most reputabledistributors in the United States, including Europa Sports, MuscleFoods USA, KeHE, and Wishing-U-Well. Koios uses a proprietary blend ofnootropics and natural organic compounds to enhance human productivitywithout using harmful chemicals or stimulants. Koios products havebeen shown to enhance focus, concentration, mental capacity, memoryretention, cognitive function, alertness, brain capacity and createall day mental clarity. Its ingredients are specifically designed totarget brain function by increasing blood flow, oxygen levels, andneural connections in the brain.
Koios produces one of the only drinks in the worldinfused with MCT oil. MCT oil is derived from coconuts and has beenshown to help the body burn fat more effectively, create lastingenergy from a natural food source, produce ketones in the brain,allowing for greater brain function and clarity, support healthyhormone production, and improve immunity. For more information, pleasevisit our website: https://www.koiosbeveragecorp.com .
Forward-Looking Statements
This news release contains “forward-lookinginformation” within the meaning of applicable Canadian securitieslegislation. Often, but not always, forward-looking information andinformation can be identified by the use of words such as “plans”,“expects” or “does not expect”, “is expected”,“estimates”, “intends”, “anticipates” or “does notanticipate”, or “believes”, or variations of such words andphrases or state that certain actions, events or results “may”,“could”, “would”, “might” or “will” be taken, occur orbe achieved. These forward-looking statementsgenerally include statements that are predictive in nature and dependupon or refer to future events or conditions, including, but notlimited to statements related to the Company’s business in general,the ability to complete the Proposed Transaction, including receipt ofnecessary approvals, the timing of completion of the contemplatedtransactions, including the parties' ability to satisfy the conditionsor approvals to the consummation of the transaction, the possibilityof any termination of the agreement and theoverall performance of the functional food and beverage market.
The forward-looking information reflects management'scurrent expectations based on information currently available and aresubject to a number of risks and uncertainties that may cause outcomesto differ materially from those discussed in the forward-lookinginformation. Although the Company believes that the assumptions andfactors used in preparing the forward-looking information arereasonable, undue reliance should not be placed on such informationand no assurance can be given that such events will occur in thedisclosed time frames or at all. Factors that could cause actualresults or events to differ materially from current expectationsinclude: (i) adverse market conditions; (ii) changes to the growth andsize of the functional beverage markets; and (iii) other factorsbeyond the control of the Company. The Company operates in a rapidlyevolving environment. New risk factors emerge from time to time, andit is impossible for the Company’s management to predict all riskfactors, nor can the Company assess the impact of all factors on theCompany’s business or the extent to which any factor, or combinationof factors, may cause actual results to differ from those contained inany forward-looking information. The forward-looking informationincluded in this news release are made as of the date of this newsrelease and the Company expressly disclaims any intention orobligation to update or revise any forward-looking information whetheras a result of new information, future events or otherwise, except asrequired by applicable law.
The statements in this news release have not beenevaluated by Health Canada or the U.S. Food and Drug Administration.As each individual is different, the benefits, if any, of taking theCompany’s products will vary from person to person. No claims orguarantees can be made as to the effects of the Company’s productson an individual's health and well-being. The Company’s products arenot intended to diagnose, treat, cure, or prevent any disease.
This news release may contain trademarked names ofthird-party entities (or their respective offerings with trademarkednames) typically in reference to (i) relationships had by Koios withsuch third-party entities as referred to in this release and/or (ii)client/vendor/service provider parties whose relationship with Koiosis/are referred to in this release. All rights to such trademarks arereserved by their respective owners or licensees.
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