TNTY news
True Nature Updates on Retail Strategy, Compounding and Staffing
ATLANTA, GA--(Marketwired - Aug 2, 2017) - True Nature Holding, Inc. (OTCQB: TNTY) (the "Company") today provides an update on its previously announced actions on business development and staffing:
Price Choice Pharmacy Acquisition:
On January 19, 2017 the Company entered into a Letter of Intent ("LOI") to acquire the two (2) retail operations of Price Choice Pharmacy in Miami, Florida. On July 27, 2017, however, the Company was informed by the seller that it received an alternative proposal from a third party that included higher compensation and fewer terms. Accordingly, the Company has discontinued its efforts with Price Choice. "Over the past few months, we have learned a great deal about the retail 'embedded' marketplace and we've gained encouraging insight into the Hispanic markets. We believe there is a clear, open opportunity to provide smaller grocery chains with a pharmacy operation that will help them become more competitive with larger chains that offer full services, including pharmacy services," said Dr. Jordan Balencic, Chairman of the Board of Directors. He continued, "The key executives of Price Choice remain close to the Company, including Mr. Leo Smith, who is a member of our non-executive Advisory Board. We expect them to continue to assist us as we press forward."
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