Friday, January 18, 2019 1:27:57 PM
Effective as of December 14, 2018, a wholly-owned subsidiary (the "Paradise Buyer") of Healthier Choices Management Corp. (the
"Company") closed on its acquisition of substantially all of the assets of Paradise Health Foods, Inc. ("Paradise"), which owned and
operated health and nutrition stores in Melbourne, Florida and Palm Bay, Florida. In addition, the Paradise Buyer assumed certain
leasehold obligations and entered into a short-term transition agreement with the sole stockholder of Paradise. The cash purchase price
to acquire the assets and business of Paradise was approximately $2.09 million. Contemporaneous with the Paradise closing, Healthy
U Wholesale, Inc., a wholly-owned subsidiary of the Company (the "TVS Buyer"), entered into, and closed, a Membership Interest
Purchase Agreement to acquire 100% of the equity interests in The Vitamin Store, LLC ("TVS"). TVS operates an online vitamin,
supplement, and health-related products business at www.thevitaminstore.com. The cash purchase price to acquire TVS was
approximately $873,400. The Asset Purchase Agreement for the Paradise transaction was included as Exhibit 2.1 to the Company's
Current Report on Form 8-K filed on November 21, 2018 and the Membership Interest Purchase Agreement has been included as
Exhibit 2.2 hereto. (See company website for full report)
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