SNAP Brands Ventures Ltd. signed a letter of intent to purchase an award-winning Canadian college to further contribute to the research and development of Snap Brands ÜRBIOCODEMT and ÜRSTAXMT platforms.
VANCOUVER, BC, June 21, 2022 /CNW/ – SNAP Brands Ventures Inc. (“SNAP”) is pleased to announce that it has entered into a non-binding letter of intent (“LI”) to purchase an award-winning, internationally recognized Canadian college. scale (“College”) . SNAP intends to use the College’s specialties in holistic medicine to further assist in the research and development of SNAP’s ÜRBIOCODEMT and ÜRSTAXMT platforms. Pursuant to the terms of the letter of intent, the parties have agreed to a 60-day due diligence period and will proceed to negotiate and execute in good faith a definitive agreement which will set out all terms of the transaction. proposed.
SNAP’s Telehealth app uses audio signal processing and machine learning to analyze 30-second audio clips of a user’s voice to quickly and accurately identify known and unknown health conditions such as low vitamin deficiency, inflammation, poor cardiovascular and/or cognitive health. SNAP then correlates these biomarkers (called ÜRBIOCODEMT) to products, such as their premium line of personalized health and wellness products known as ÜRSTAXMT
The Canadian College that SNAP intends to purchase has annual revenues of more than $4 million (CAD) of its main business units, with an annual EBITDA of approximately $1.5 million (GUJAT).
Dino MinichielloSnap Brands CEO: “With nearly two decades of profitability, this world-renowned Canadian college fits well with our global SNAP Brands model of integrating traditional and cutting-edge medical and health practices with the goal of increasing global availability of sustainable healthcare.”
About SNAP Brands Ventures Ltd. Vancouver BC Canada
Snap Brands is developing a first-of-its-kind direct-to-consumer (D2C) telehealth service. Snap uses audio biomarkers to associate and recommend health products to improve your overall well-being and quality of life. Snap Brands also researches, develops and markets the best of the best health supplements under the ÜRSTAXMT brand, which is their in-house product portfolio. ÜRSTAXMT is proudly produced in North Americashipping to customers in Canada and United States.
The Company has entered into a merger agreement with a reporting issuer under a reverse takeover (RTO) transaction and concurrently intends to apply for listing on a Canadian stock exchange. The reporting issuer is completing a corporate reorganization to reflect the merger which, if completed, Snap Brands will become a public reporting issuer. Further details on changes to the company to become a public issuer will be announced as they occur.
SOURCE SNAP Brands Ventures Inc
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