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Jade Art Group, Inc. Announces LOI to Acquire Mother's Touch Formula
Jade Art Group, Inc. Announces LOI to Acquire Mother's Touch Formula.
About this update from Jade Art Group, Inc.
[{"type":"text","content":"June 24, 2022, at 4:35 PM ESTJADE ART GROUP, INC ANNOUNCES LOI to ACQUIRE MOTHER’S TOUCH FORMULABirmingham, AL., June 24, 2022 – Jade Art Group, Inc. (“JADA” or the “Company”) (OTC: JADA) announced today it has signed a Letter of Intent to acquire Mother’s Touch Formula, a Texas-based producer of baby formula with the capacity to supply retail vendors on a national scale (“Mother’s Touch”). Upon closing the acquisition, Mother’s Touch will operate as a wholly-owned subsidiary of the Company.Wayne Sellers, CEO of the Company said, “We are excited to be negotiating definitive agreements with Mother’s Touch and look forward to our future together. Their high-quality products will fill a significant void in the baby formula market at more competitive and affordable prices. We are grateful for the opportunity to bring them into the JADA family.”The parties anticipate closing the acquisition in July 2022. Jade Art Group, Inc. is a Birmingham Alabama-based food, technology, safety, agriculture, and energy company.Mother’s Touch Formula is a Probiotic Prebiotic, as well as DHA & ARA approved by the FDA. Mother’s Touch provides complete nutrition for new babies. Based in Texas, Mother’s Touch Formula is the USA-based manufacturer that will provide baby formula for national accounts with the capacity currently available that has come on line in the last 60 days. Mother’s Formula is also an approved WIC provider and will be adding capacity in the coming months.Forward-looking statementsCertain statements contained in this document constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. For these purposes, forward-looking statements are statements that address activities, events, conditions, or developments that the Company expects or anticipates may occur in the future. In some cases, forward-looking statements can be identified because they contain words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “likely,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” or similar expressions and the negatives of those terms. Such forward-looking statements involve risks and uncertainties that may cause actual events, results, or performance ...