Emergence Global Enterprises Inc. Announces Acquisition of Coastal Rock Trading LLC
WINDSOR, Ontario, March 17, 2021 (Newswire.com) - Emergence Global Enterprises Inc. ("Emergence Global" or the "Company") (CSE: EMRG) (OTCQB: ELOAF), an acquirer, creator, and builder of reputable natural health consumer foods, products, and brands is pleased to announce that it has completed its acquisition of all of the issued and outstanding member shares in the capital of Coastal Rock Trading LLC ("Coastal Rock") (the "Transaction"), Coastal Rock Trading LLC is a health and sports nutrition brand developer providing new and advanced health products for consumers eager to improve their health using natural solutions. Coastal Rock Trading is also a supplier to both distributors and retailers in Australia, New Zealand, Hong Kong, Taiwan, Vietnam, UAE, Peru, India, Canada, and the USA, Puerto Rico, and the Dominican Republic.
Coastal Rock's consumer brands Fuzion 365, Kinetic Supps, and SportFit365 will add to our portfolio of consumer products as we continue to build our library of natural product offerings.
The acquisition was completed pursuant to a share purchase agreement (the "Purchase Agreement"), dated March 17, 2021. Under the terms of the Purchase Agreement, the members of Coastal Rock (the "Vendor") received aggregate consideration of 1,250,000 common shares in the capital of the Company ("Common Shares") issued to the Vendor at the closing time. The Price per Share at the close of the market on the day prior was $.99.
According to Joe Byrne, President & CEO of Emergence Global Enterprises, "Coastal Rock Trading and its associated brands make an excellent addition as we continue to build on our portfolio of natural health products as well as opening new territory opportunities to both our current brands and white label business internationally. We continue to be driven by our mission to help others make a difference in their health, we continue to execute our plan in becoming a global vertically integrated player in the organic, natural food, and supplement marketplace."
Additional information about the Company can be found on SEDAR under the Issuer Profile of "Emergence Global Enterprises Inc." or on OTC MARKETS.
About the Company
Emergence Global Enterprises Inc. ("Emergence") is an acquirer, creator, and builder of reputable natural health consumer foods, products, and brands. Emergence has become a North American developer and distributor of branded natural health foods, supplements, and sports nutrition specialty supplements. The Company is currently considering several development projects.
$EMRG.C $ELOAF
For further information on the Company, please contact: Joseph Byrne, President & Chief Executive Officer and a Director at phone: 519-257-0460 or by email at: joe@emergenceglobalinc.com.
Cautionary Statement Regarding Forward-Looking Information
Forward-Looking Statements
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: closing and the terms and conditions of the proposed transaction; the business and operations of the Company after closing the proposed transaction. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political, and social uncertainties; delay or failure to receive board, shareholder, or regulatory approvals; and the uncertainties surrounding the nutraceutical and botanical industry. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. There can be no assurance that the proposed transaction will occur or that the anticipated financial, economic, or strategic benefits will be realized.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) or OTC Markets accepts responsibility for the adequacy or accuracy of this press release.
Source: Emergence Global Enterprises Inc.