Today, OMID Holdings, Inc. (OTC Pink: OMID) is pleased to announce its acquisition of a new health and wellness brand: Champ Life. The brand has been wholly-acquired without any net change to the issued and outstanding share structure of OMID. As part of the transaction, the Seller is expected to support various activities related to the launch and future growth of Champ Life, receiving 5% of net revenues from sales. Under certain circumstances, this royalty may be eliminated at the option of OMID management as part of a sale of the brand or following any calendar year wherein Champ Life achieves over $1,000,000 in net revenue.
“We have ambitious plans for Champ Life. In addition to our continued interest in cannabis, we intend to expand our footprint into the athletic and biohacking markets. By introducing nootropic ingredients such as adaptogens from herbs and mushrooms, we will diversify our product portfolio and its beneficial effects. As another example of our previously-stated commitment to shareholders, OMID management has elected to cancel personal shares to offset those issued as part of this acquisition,” stated Adam Frank, OMID’s Chairman & CEO.
About OMID Holdings, Inc.
OMID Holdings, Inc. is a publicly-traded (OTC Pink: OMID) health and wellness company which owns and operates a manufacturing facility in Alpha, New Jersey. The headquarters is FDA-registered and Food Grade Certified for production within its clean room environment. The company is currently focused on the development, manufacture, and sale of hemp-based products for private label and in-house brands.
For more information about the company, please visit https://omidholdingsinc.com/.
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