SOHM Inc (SHMN)

[hardlesson]

(Added) Although, if you were to read their PR's they have said everything but the word "closed."
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"has finished its due diligence"
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SOHM, Inc., Announces Important Details of Its California Pharmaceutical Company Acquisition Expanding Manufacturing into the US Market
Press Release | 11/11/2021
Expanding SOHM, Inc's Pharmaceutical manufacturing capabilities under FDA licensing opens new opportunities for OTC, Cosmeceuticals, Veterinary, and Prescription Rx.

CHINO HILLS, CA / ACCESSWIRE / November 11, 2021 / SOHM, Inc. (OTC PINK:SHMN), a Pharmaceutical, Nutraceutical, and Cosmeceutical company that manufactures and markets generic drugs covering numerous treatment categories, released more information today regarding its long-awaited acquisition of a leading Southern California based pharmaceutical company.

Mr. Baron Night, President and CEO of SOHM Inc., said, "From the beginning, SOHM has worked hard to develop and deliver transformative and critically needed products to patients and consumers around the globe. Manufacturing under FDA licensing will enhance our efforts and our presence in the cosmeceutical market while spring boarding our pharmaceutical manufacturing programs which allow us to deliver more affordable products to more patients in need."

This step forward provides SOHM with a cGMP-compliant, FDA licensed contract manufacturing facility that has been in business since 2000. Expanding the core capabilities through this acquisition allows the Company to begin talks with its distribution network for exclusive opportunities within new verticals, providing an increase in revenues, profits, and financial stability with significant value to shareholders.

The acquisition facility, located in Santa Ana, the heart of Southern California, is a major transportation corridor. Currently, the facility produces semi-solid, liquid and topical products, holding more than 300 proprietary formulations. The current production capacity is 41,000 gallons per year, with additional room to expand to 160,000+ gallons per shift, per year within the same facility allowing for increased revenues and profitability.

"We look forward to welcoming our new partners and to building on our combined expertise in pharmaceutical manufacturing, stated Mr. Night. "We are incredibly proud of what our Company has accomplished and look forward to the next chapter."

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the Company has achieved another milestone of setting up its manufacturing hub in the USA." With this acquisition,

the acquisition would happen in a phased manner due to the nature of business and compliance safeguards. The details of the acquired Company

The acquisition is in line with the Company's strategy for its growth and stability and brings synergies between the two companies.

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https://www.otcmarkets.com/stock/SHMN/news