Business
Vyvo Becomes Publicly Traded in a Transaction Valued at $50 Million with Helo Corp.
Vyvo Becomes Publicly Traded in a Transaction Valued at $50 Million with Helo Corp..
About this update from Helo Corp.
[{"type":"text","content":"SAN FRANCISCO, CA / ACCESSWIRE / January 14, 2021 / Helo Corp. (OTC PINK:HLOC) ("Helo" or the "Company), a leading developer of wearable wireless devices embedded with Life Sensing TechnologyTM and dedicated to improving wellness worldwide, is pleased to announce the closing of its acquisition of Vyvo Inc. ("Vyvo") on January 1, 2021, which transfers the Vyvo business into a publicly traded entity. Vyvo is building a worldwide community of passionate users who leverage technology to live healthier and happier lives with greater prosperity.The all stock transaction encompasses the issuance by Helo of 50 million common shares, 100 Preferred A Super Voting shares and 2 million Preferred B shares in exchange for Vyvo's strategic assets, including patents, technologies and operational assets. These assets include Nutramatic, GlucoStrap, Artificial Intelligence(AI) protocols and machine learning processes and Vyvo Network Software. As part of the transaction, $1.8 million of Helo's debt was forgiven. In addition, Vyvo members who are already shareholders will automatically attain shares in HLOC.This transaction, effective January 1, 2021 has enabled Helo Corp. to secure all of the technological assets and capabilities necessary to transition from a wholesale device business to a business-to-consumer business model where HLOC secures increased revenues from the sale of its devices (as it captures a greater portion of the value chain) and additional revenues from the sale of other Vyvo products and services.Sean McVeigh, Helo's Chief Executive Officer, commented, "This transaction that brings Vyvo public is a major milestone for us and we wish to thank all who made it possible. We look forward to executing on our strategic plan by capitalising on Vyvo's leading position in the digital health industry, and building shareholder value for our holders, employees, partners and Vyvo members."Fabio Galdi, Vyvo's Chief Executive Office, stated, "Going public has always been part of the Vyvo's mission and now that we have achieved this important objective, we can bring even more value to Vyvo members who, as shareholders, will continue to promote Vyvo going forward, securing Vyvo's revenue stream. We will utilize our new public currency as an incentive and retainment tool for ou...