VANCOUVER, BC / ACCESSWIRE / October 19, 2022 / LOVE Pharma Co. ("LOVE" or the "Company") (CSE:LUV) (FSE:G1Q0), is pleased to announce that it has completed its acquisition (the "Acquisition") ofDoc Hygiene Pharmaceuticals Inc. ("Doc Hygiene") (as originally disclosed in a press release on August 16, 2022).
Pursuant to the terms of the share purchase agreement, the Company paid a total of US$300,000 in connection with the Acquisition through the issuance of a convertible promissory note representing an aggregate principal amount of US$150,000, convertible into common shares in the capital of Love at a price equal to the lesser of $0.05 and the last trading price on the Canadian Securities Exchange prior to the conversion, and the assumption of US$150,000 of indebtedness of Doc Hygiene.
Zach Stadnyk, Love Pharma CEO, stated "We're excited to officially close Doc Hygiene and work with the company's proprietary Intellectual Property ("IP"), website and e-commerce platform, and established brand within the consumer-packaged goods space. We believe the completion of the acquisition further compliments our robust portfolio of exclusive IP within the consumer over-the-counter therapeutics."
Website: https://dochygiene.com
Zach Stadnyk, CEO and Director
About Love Pharma Inc.
With a focus on the global sexual Health and Wellness markets, Love Pharma Inc. (CSE:LUV) (FSE:G1Q0) was founded in 2020, with a mission to bring to market innovative products that enhance sexual health and wellness while providing an improved quality of life. Love Pharma holds exclusive licenses to produce market, package, sell, and distribute patent-protected therapeutic and pharmaceutical products throughout Europe, the United Kingdom, and North America.
For further information, please contact:
Investor Relations
Telephone: 1 (604) 343-2977
E-mail: investors@love-pharma.com
www.love-pharma.com
Cautionary Statement in Forward-Looking Information
This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities legislation (together, "forward-looking statements". Forward-looking statements can be identified by the expressions "seeks", "expects", "believes", "estimates", "will", "target" and similar expressions. The forward-looking statements are not historical facts, but reflect the current expectations of the Company regarding future results or events and are based on information currently available to them. Certain material factors and assumptions were applied in providing these forward-looking statements. All forward-looking statements in this press release are qualified by these cautionary statements. The Company believes that the expectations reflected in forward-looking statements are based upon reasonable assumptions; however, the Company can give no assurance that the actual results or developments will be realized by certain specified dates or at all. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, a forward-looking statement speaks only as of the date on which such statement is made. The Company undertakes no obligation to publicly update any such statement or to reflect new information or the occurrence of future events or circumstances except as required by securities laws. These forward-looking statements are made as of the date of this press release. These forward-looking statements may be affected by risks and uncertainties in the business of Doc Hygiene and general market conditions, including COVID-19.
SOURCE: Love Pharma Inc.
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