FitLife Brands, Inc. (“FitLife” or the “Company”) (OTCPK: FTLF), a provider of innovative and proprietary nutritional supplements for health-conscious consumers, today announced that it has completed the previously announced acquisition of Mimi’s Rock Corp. (“Mimi’s Rock” or “MRC”) (TSXV: MIMI, OTCQB: MIMNF). The acquisition was effected through a statutory plan of arrangement (the “Arrangement”) under the provisions of the Business Corporations Act (Ontario).
Pursuant to the Arrangement, among other things, a wholly owned subsidiary of FitLife acquired all the issued and outstanding common shares of MRC. The Arrangement became effective at 12:01 a.m. on February 28, 2023, resulting in MRC becoming an indirect wholly owned subsidiary of FitLife. FitLife funded the acquisition using a combination of cash on hand and the proceeds of a new $12.5 million term loan.
Dayton Judd, CEO of FitLife commented, “We are excited to welcome Mimi’s Rock to the FitLife family. We look forward to working closely with the talented team at Mimi’s Rock to help drive further growth and profitability for their brands.”
About FitLife Brands
FitLife Brands is a developer and marketer of innovative and proprietary nutritional supplements for health-conscious consumers. FitLife markets over 130 different dietary supplements to promote sports nutrition, improved performance, weight loss and general health primarily through domestic and international GNC franchise locations as well as through more than 17,000 additional domestic retail locations and, increasingly, online. FitLife is headquartered in Omaha, Nebraska. For more information, please visit our website at www.fitlifebrands.com.
About Mimi’s Rock Corp.
Mimi’s Rock Corp. (www.mimisrock.com) is an online dietary supplement and wellness company which markets and sells its products under the Dr. Tobias, All Natural Advice and Maritime Naturals brand names. The Dr. Tobias brand features over 30 products, including the top-selling Dr. Tobias Colon 14-Day Cleanse and the #1 selling Omega 3 Fish Oil on Amazon.com. All Natural Advice and Maritime Naturals products focus on skin and beauty care. Products sold under the All Natural and Maritime Naturals brand names are made in Canada and registered with Health Canada and under the EU Cosmetics Act. All Natural Advice has been featured on BNN as a top selling skincare brand in Canada, and has been rated the #1 Beauty Brand on Amazon Canada for the past four years.
Disclaimer:
The information contained in this article is for educational and informational purposes only and is not intended as a health advice. We would ask you to consult a qualified professional or medical expert to gain additional knowledge before you choose to consume any product or perform any exercise.
