ISLAND PARK, N.Y., April 22, 2024 (GLOBE NEWSWIRE) — NetBrands Corp., a Delaware corporation (OTC: NBND) announces that the company has issued a letter of intent and plan to acquire OMM Imports, LLC, Elevare Skincare LLC, and Market Innovations, LLC. Zero Gravity is a leading player in the skin care home use devices operating successfully since 2016. Their line of products is consistent of patented FDA-approved class II medical devices, as well as other devices that aim to treat pain and hair loss. The technology used in the FDA Approved Products is based on LED and infrared light therapy to help individuals improve their skin health and appearance by fighting and slowing down the natural skin aging process. The FDA Approved Products demonstrated in clinical trials their effectiveness in improving overall skin health by fighting wrinkles, sunspots, and acne. The products are distributed in the USA and other 30 countries around the globe.
The combined company will focus on the advancement of new devices and complementary skin care creams and serums to complement its already strong product line which is distributed worldwide. The combined company will continue to operate with the same management team and co-founders under NetBrands Corp as it will seek to expand its reach via acquisitions in health, wellness, and beauty vertical. The acquisition will be contingent on the successful negotiation and execution of a definitive agreement with Zero Gravity and will be consummated through a combination of cash consideration shares of new common stock to be issued.
NetBrands Corp operates as a global holding company through several divisions, with one of its divisions being M&A searching to acquire eCommerce businesses in various verticals.
Last year, NetBrands Corp introduced a new business model with the goal of expanding its digital footprint organically and via acquisitions. Prior to this announcement NetBrands has reviewed over a dozen businesses and only was able to isolate a small number which had fit in its criteria and accepted on favorable terms.
“We are in full roll-up mode, and are confident that this business combination will pave the way for several new ecommerce acquisitions with positive cash flow in the future,” said Paul Adler, President & CEO of NetBrands Corp.
About NetBrands Corp
Headquartered in Island Park, NY – NetBrands Corp operates as a diversified holding company through several divisions with one of its divisions being M&A acquiring ecommerce assets as well as private business in various verticals and scales them up.
About Zero Gravity Skin
Zero Gravity invented a series of patented, FDA-approved medical-grade anti-aging devices using the most up-to-date science and technology available in our world today. A collection of our devices helps women and men battle against fine lines, wrinkles, sunspots, acne and even hair loss, without even leaving the house.
