You are here
Sport Endurance Signs Letter of Intent to Acquire CBD Animal Health and Wellness Company, Bona Vida
BROOKLYN, N.Y., Feb. 07, 2019 (GLOBE NEWSWIRE) -- Sport Endurance, Inc. (OTCQB: SENZ) (the “Company”), to be reincorporated as Better Choice Company, Inc., today announced that it has signed a Letter of Intent (“LOI”) to acquire Bona Vida Inc. (“Bona Vida”), an innovative emerging CBD platform, focused on developing a portfolio of brand and product verticals within the animal and human health and wellness space. Bona Vida will be exclusively focused on CBD derived from industrial hemp, with the goal of becoming the dominant worldwide player in this high growth industry.
“The potential acquisition of Bona Vida is a key step forward towards becoming a leader in the CBD pet space,” said David Lelong, Chief Executive Officer of Sport Endurance. “As part of our business strategy, we have been exploring opportunities to further develop a CBD-infused line of animal products. Bona Vida offers a range of trusted CBD products as well as expertise in formulation, research and development, manufacturing support, quality control, and company oversight that will prove to be extremely valuable as the Company continues to grow. Additionally, the integration of Bona Vida allows us to diversify our product development and distribution strategy in a way that will be synergistic with our proposed acquisition of TruPet, which offers its own unique product line and distribution channels.”
Damian Dalla-Longa, CEO of Bona Vida, said, “The Bona Vida team and I are pleased to be working with a team that shares the same vision and enthusiasm that I have for the pet CBD industry. We are at the beginning of a fundamental shift in the global acceptance of CBD as a lifestyle improvement product and with the passing of the Hemp Farming Act within the 2018 Farm Bill in December 2018, we see exciting new market opportunities opening for CBD-based wellness products across the board,” said Dalla-Longa. “We believe that positive regulatory tailwinds will continue to enhance market access for consumers and that industrial hemp is quickly becoming an agricultural commodity with almost limitless product alternatives.”
“Bona Vida strives to be the market leader in all of these verticals by deploying a contract manufacturing and distribution model that currently does not exist in the space. This will provide Bona Vida with a first-mover competitive advantage, help scale the business quickly and deliver maximum value to all shareholders,” said Dalla-Longa.
About Bona Vida Inc.
Bona Vida’s goal is to be the leading developer of a portfolio of brand and product verticals within the animal and adult health and wellness space and plans to become the preeminent player in the global hemp-derived CBD industry. Importantly, Bona Vida will only be sourcing CBD from industrial hemp. Bona Vida is developing and operating in the global hemp-derived CBD space with a focus on the following markets: Pets (dogs and cats), Veterinary, Livestock and human health and wellness. For more information, please visit: www.bonavida.com and @bonavidacbd on Facebook, Instagram and Twitter. Bona Vida can be reached at: email@example.com.
About Sport Endurance, Inc., to be Reincorporated as Better Choice Company, Inc.
At the foundation of Sport Endurance is the belief that good health practices and nutrition contribute to and promote a higher quality of life. Sport Endurance’s has made a significant investment in Trupet, LLC, an online seller of pet foods, flea and tick products pet nutritional products and related pet supplies. It expects to acquire the remaining equity interests of Trupet this Spring at the same time it acquires Bona Vida. Sport Endurance is currently seeking opportunities in the CBD, hemp, and legal cannabis industries. For more information, please visit http://www.sportenduranceinc.com and https://www.betterchoicecompany.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding Trupet’s acquisition of Trupet and Bona Vida, Bona Vida’s plans to
grow its business and its goal of being the dominant player and market leader in the hemp CBD space. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “will,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Some or all of the results anticipated by these forward-looking statements may not be achieved. Important factors that could cause actual results to differ from those in the forward-looking statements include our inability to reach a definitive agreement with the principal Bona Vida investors and obtain the necessary vote needed to merge with Bona Vida, the results of our continuing due diligence investigation into both Trupet and Bona Vida, the future short-term market for our common stock and the market for microcap companies in general, our ability to complete a material financing necessary to acquire both Trupet and Bona Vida and Bona Vida’s ability to effectively grow its business. Further information on our risk factors is contained in our filings with the SEC. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
Sport Endurance, Inc.
David Lelong, President and CEO