Connect with us

Headlines

McLovin’s Pet Food to be Acquired by Caduceus

The deal is expected to close this month.

mm

Published

on

CHEYENNE, WY — Caduceus Corp Inc., a publicly traded holding company focused on consumer goods acquisitions, plans to acquire California-based McLovin’s Pet Food Inc.

The transaction, subject to customary closing conditions, is expected to close this month.

Alex Chen, CEO and director of Caduceus, said: “We are excited about the opportunity to bring McLovin’s under the Caduceus Corp umbrella. Consumer goods is an important and growing sector, especially given the current times.”

David Ji, CEO of McLovin’s Pet Food, said, “We pride ourselves on the great level of quality behind our manufacturing process and more importantly the fact that McLovin’s sourcing is held to the highest standards of ethics and safety. The McLovin’s products are made in USA & Canada and we believe this is a competitive advantage for us.”

More details from the announcement:

The terms outlined in the LOI are subject to the parties successfully entering into a definitive agreement (the “Definitive Agreement”) in respect of the Transaction on or before April 30, 2021. The material terms of the Transaction are as follows:

Advertisement

In consideration for the Transaction, the Company will issue an aggregate of 1.5B restricted common shares of Caduceus (the “Consideration Shares”) to McLovin’s shareholders at a deemed price of $0.075 per Consideration Share in exchange of all of the issued and outstanding securities in the capital of McLovin’s Pet Food, Inc. and a lump sum of USD 500,000. More details on the transaction, including operations going forward will be disclosed upon closing.

Advertisement

FEATURED VIDEO

Sponsored by Cogent Solutions Group

Reduce Your Pet’s Hip & Joint Discomfort with the Most Researched Hyaluronan on the Market

Nearly 60% of dogs and 90% of cats suffer from joint discomfort. Trixsyn joint supplement contains a patented and proven hyaluronic acid molecule for maximum efficacy to promote joint, bone, soft tissue, and cartilage health, keeping your pet feeling comfortable, for longer. Trixsyn is veterinarian recommended, safe and all-natural, and contains research-proven ingredients. Get your paws on the most-researched hyaluronic acid on the market. Learn more at Trixsyn.com.

Promoted Headlines

Most Popular