$JADA Jade Art Group, Inc. Announces LOI to Acquire Mother's Touch FormulaPress Release | 06/24/2022
June 24, 2022, at 4:35 PM EST
JADE ART GROUP, INC ANNOUNCES LOI to ACQUIRE MOTHERS TOUCH FORMULA
Birmingham, AL.,June 24, 2022Jade Art Group, Inc.(JADA or the Company) (OTC: JADA) announced today it has signed a Letter of Intent to acquire Mothers Touch Formula, a Texas-based producer of baby formula with the capacity to supply retail vendors on a national scale (Mothers Touch). Upon closing the acquisition, Mothers Touch will operate as a wholly-owned subsidiary of the Company.
Wayne Sellers, CEO of the Company said, We are excited to be negotiating definitive agreements with Mothers Touch and look forward to our future together. Their high-quality products will fill a significant void in the baby formula market at more competitive and affordable prices. We are grateful for the opportunity to bring them into the JADA family.
The parties anticipate closing the acquisition in July 2022.
Jade Art Group, Inc. is a Birmingham Alabama-based food, technology, safety, agriculture, and energy company.
Mothers Touch Formula is a Probiotic Prebiotic, as well as DHA & ARA approved by the FDA. Mothers Touch provides complete nutrition for new babies. Based in Texas, Mothers Touch Formula is the USA-based manufacturer that will provide baby formula for national accounts with the capacity currently available that has come on line in the last 60 days. Mothers Formula is also an approved WIC provider and will be adding capacity in the coming months.
Certain statements contained in this document constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. For these purposes, forward-looking statements are statements that address activities, events, conditions, or developments that the Company expects or anticipates may occur in the future. In some cases, forward-looking statements can be identified because they contain words such as anticipate, believe, continue, could, estimate, expect, intend, likely, may, might, plan, potential, predict, project, seek, should, target, will, would, or similar expressions and the negatives of those terms. Such forward-looking statements involve risks and uncertainties that may cause actual events, results, or performance to differ materially from those indicated by such statements. These risks and uncertainties include, but are not limited to, domestic and international economic conditions, including exchange rates, the effects of competition and regulation, uncertainties in the financial markets, consumer and small business spending patterns and debt levels, breaches of security or privacy of member or business information, conditions affecting the acquisition, development, ownership or use of real estate, capital spending, actions of vendors, rising costs associated with employees (generally including health-care costs), energy and certain commodities, geopolitical conditions (including tariffs), the ability to maintain effective internal control over financial reporting, COVID-19 related factors and challenges, including (among others) the duration of the pandemic, the unknown long-term economic impact, reduced shopping due to illness, travel restrictions or financial hardship, shifts in demand away from discretionary or higher-priced products, reduced workforces due to illness, quarantine, or government mandates, temporary store closures due to reduced workforces or government mandates, or supply-chain disruptions, capacity constraints of third-party logistics suppliers, and other risks identified from time to time in the Companys public statements and reports filed with theSecurities and Exchange Commission. Forward-looking statements speak only as of the date they are made, and the Company does not undertake to update these statements, except as required by law.