Firma Holdings Corp. Announces Acquisition of Innovative Product Solutions Inc
WHEATON, May 4, 2021 - Firma Holdings Corp. (OTC PINK:FRMA) is pleased to announce that it has entered into an Agreement to acquire a 51% interest in the existing shares of Innovative Product Solutions Inc (IPS), a Colorado based product marketing and development company based on a typical 30 day Due Diligence period, https://iproductsolutions.com
Sebastien Dufort stated; "We are extremely excited to complete this transaction, which gives Firma Holdings control of IPS, a global management company. IPS has the resources to manage every aspect of the process necessary to prepare new innovative products for launch and sales expansion in the retail market place, while reaching the consumer, and building prominent retailers product categories incrementally. Additionally, Firma Holdings, IPS, and Firma's shareholders may have opportunities to participate in equity offerings in IPS clients at an early stage."
IPS is led by President and CEO, Paul Luna, who has managed teams in product development including the full roll out to consumers. IPS has a seasoned team of professionals with a long history of successful product launches. The management team can be found here https://iproductsolutions.com/our-team/
Current IPS clients include but not limited to are;
PROOF Ice Cream - An artisan ice cream company in Columbia, South Carolina, Proof is changing the way people think about dessert. PROOF uses patented formulas and production techniques and is handcrafted daily using top-shelf liquor as a key ingredient to create a savory end-product with an unmatched creamy consistency. https://proofalcoholicecream.com
STRÄVA Coffee - Is a high end CBD coffee manufacturer based in Colorado. STRÄVA is a belief, a commitment, and a promise; it signifies 7 attributes of purpose, quality and transparency that we embrace and ensure are delivered in every product that bears the STRÄVA mark. https://www.stravacraftcoffee.com
Country Smooth - Is a premium American Whiskey that was born out of a love for country music and the American lifestyle. A smooth, approachable, modern spirit created to broaden the appeal of an American classic to a modern audience of women and men, whiskey lovers and novices alike. http://countrysmooth.com
A summary of agreement terms is as follows;
- At the signing of this agreement, Firma Holdings will issue 30,000,000 shares of restricted common stock to the shareholders of IPS in exchange for 51% of the IPS shareholders pro-rata share interests in IPS.
- If the operations of IPS do not generate, during the period ending one year after the Closing, but prior to the second anniversary of the Closing, more than $1,000,000 of gross revenue with EBITDA of at least $250,000, then the shareholders of IPS will return to Firma 7,500,000 shares of common stock
Firma expects this to be the first of a number of acquisitions in accordance with Firma Holding's new corporate directives, Firma Holdings Corp. is an organized and engaged in the business of fostering early-stage companies through the different developmental phases. The intent is to acquire an interest in a company that already has the potential to succeed on its own; use Firma Holding's resources to further assist the acquisition target to grow and develop; and at the appropriate time, distribute the shares to our shareholders.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the Company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. Please read the full disclaimer at www.firmaholdingscorp.com
SOURCE: Firma Holdings Corp.
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