In moving forward with corporate restructure and the plan to enter the company into a different sector, Valley High has completed its due diligence and has decided to enter into the multi-billion dollar nutraceutical industry with a letter of intent to acquire GEAR Sports Nutrition Inc. GEAR is an already established brand with nationwide distribution and a large social media following. They have several products already on store shelves and many more developed and ready for release in 2016.
"In reviewing what ground breaking products GEAR has developed and slated for release in 2016, it was clear they were the right acquisition target for us," stated Valley High Interim CEO Clifford Pope. "We feel strongly this acquisition will help us achieve the immediate goal of increased shareholder value and price per share."
"We are very excited for what the future holds for GEAR," stated GEAR President Peter Scalise. "Our original intent was to enter the public markets via an IPO but due to the timeframe and inherent costs of doing so, we decided an acquisition allowing us immediate access to public capital was the more prudent way to go. Mainly to reserve cash flow as we are about to release what we feel to be an industry changing product line that we developed through a license agreement with a worldwide known brand and want to dedicate as much capital as we can to marketing this line."
Valley High Mining Company to Acquire Gear Sports Nutrition
Valley High has completed its due diligence and has decided to enter into the multi-billion dollar nutraceutical industry
April 13, 2016