iBrands Corp. (IBRC)

[brunners]

According to Michael Ogburn, iBrands newly appointed CEO, “The signing of this agreement with Green Tree is a transformational event for iBrands. It fulfills our commitment to create shareholder value by acquiring well-known companies with strong infrastructures and tremendous up-side. This transaction, upon completion, will be the most significant in company history as it will expand our distribution channel into the convenient store markets. Green Tree currently distributes to over 500 C-stores in the Southwest with revenue of $2.5 million. They have been given the green light for another 4,500 stores beginning in the second quarter. This gives us a new platform to distribute our energy drink and vapor products that we are currently selling. We believe the acquisition is consistent with our strategic direction, fits within our retail and outsourcing model, provides new distribution opportunities for our existing products, are financially attractive to shareholders, and will result in annual corporate revenues of approximately $11 million with the Green Tree segment representing 60% of revenues and 55% of profits”, he said.