China Food and Beverage Company (OTC: CHIF), an Esports technology company, today announced that the Company has entered into a Letter of Intent to acquire a majority stake in on-demand streaming fitness platform, Moshn Life Tech. CHIF intends to complete the acquisition by the end of June. When concluded, this will mark the first acquisition since the Company entered in to the booming Esport arena. Industry experts project that the global Esport market will amass more than $1 billion in revenue for 2021, with additional growth in media rights and the livestreaming market. Terms of the Letter of Intent were not immediately disclosed.
MOSHN.fit’s vision is to make the world a healthier place through personalized fitness for all and enable members to live a healthier life. MOSHN.fit users have access to tailored training content, both live and on-demand with personalized access to top coaches and trainers for premium members. The MOSHN app can be downloaded on Apple and Android and more info can be found at www.MOSHN.fit
MOSHN.fit proprietary wearable technology allows users to track personal fitness progress, meet coaches, connect with friends and live a healthier life through an affordable and easily accessible platform.
MOSHN.fit hardware and app enable coaches and trainers to connect to their existing community and meet new trainees while providing the ultimate fitness experience for their followers. Combining data and the MOSHN.fit CRM engine, trainers and coaches can lead live and on-demand fitness classes as well as build personalized fitness programs for premium members.
Adrian Capobianco, CEO of MOSHN stated, “MOSHN has a unique offering, international scale and a solid foundation, which is ready for substantial growth. We are excited about the partnership, as we look to scale MOSHN's business and innovate with new partners and the CHIF group of companies in the near future.”
James Tilton, president of CHIF stated, “I am thrilled that we will be able to make our entrance into the explosive Esport arena with the pending acquisition of MOSHN. It is extremely rare that you can find such a combination of state-of-the-art technology and an A-List team in any industry. This is truly a monumental day for CHIF and all of our loyal shareholders.”
CHIF’s vision is the establishment of a fully integrated technology company that provides turnkey technological solutions to the Esports industry. Over time, the Company plans to provide a wide range of services such as software solutions, e-commerce, advisory services, financial services and information technology.
For further information please contact CHIF at [email protected]
The CHIF Twitter account can be accessed at https://twitter.com/chif_tech
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that, all forward-looking statements involve risks and uncertainties, including without limitation, the ability of China Food and Beverage Company to accomplish its stated plan of business. China Food and Beverage Company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward- looking statements included herein, the inclusion of such information should not be regarded as a representation by China Food and Beverage Company or any other person.
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