Primo Nutraceuticals clarifies LOI signed March 31

2020-04-03 14:05 ET - News Release
Mr. Andy Jagpal reports
PRIMO NUTRACEUTICALS INC., SIGNS SHARE ACQUISITION LOI WITH CELEBRITY BRAND BEAUTY KITCHEN

Pursuant to discussions with the Investment Industry Regulatory Organization of Canada, Primo Nutraceuticals Inc.'s board and management team have provided more clarity to its shareholders in regard to the press release issued on March 31, 2020.
The company has signed a non-binding letter of intent with Heather Marianna LLC, doing business as Beauty Kitchen, a Nevada-based company. The LOI is non-binding, and subject to possible change and the signing of a definitive agreement.
Primo and Beauty Kitchen intend to draft and execute a definitive agreement with detailed terms and conditions in the near future. Beauty Kitchen intends to incorporate a Canadian corporation, Marianna Inc., in which it will conduct operations in Canada. Primo will acquire an ownership interest of 25 per cent of the common voting (to be confirmed) shares in Marianna for consideration to be determined in the definitive agreement. Primo wishes to inform its shareholders that the transaction described by the LOI is subject to change, pending signing of the definitive agreement.
We seek Safe Harbor.
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