WINDSOR, ONTARIO, CANADA, March 5, 2021 /EINPresswire.com/ -- Emergence Global Enterprises Inc. (“Emergence Global” or the “Company”) (CSE: EMRG) (OTCQB: ELOAF), an acquirer, creator, and builder of reputable natural health consumer foods, products, and brands, is pleased to announce that it has completed its acquisition of all of the issued and outstanding member shares in the capital of ProDynn Distribution, LLC ("ProDynn") (the "Transaction"), a distributor of branded all-natural foods, sports, and nutrition specialty supplements. The acquisition was completed pursuant to a share purchase agreement (the “Purchase Agreement”), dated March 5, 2021. Under the terms of the Purchase Agreement, the sole member of ProDynn (the "Vendor") received aggregate consideration of 1,000,000 common shares in the capital of the Company ("Common Shares") issued to the Vendor at the closing time. The Price per Share at the close of the market on the day prior was $.85.
According to Joe Byrne, President & CEO of Emergence Global Enterprises, “The acquisition of ProDynn Distribution will provide the needed logistics and supply chain support that is needed by Emergence Global enterprises as we continue to expand our footprint across the food and nutrition marketplace.” Jeff Hoffman of ProDynn Distribution, LLC said that” This move to join a growing company in the health and nutrition marketplace provides ProDynn with additional products, channels, and potential customers as both companies continue to expand their scope of operations. We look forward to joining Emergence and bringing our great value, service, and dedication to our industry and customers.”
Additional information about the Company can be found on SEDAR under the Issuer Profile of “Emergence Global Enterprises Inc." or on OTC MARKETS.
About the Company
Emergence Global Enterprises Inc. ("Emergence") is an acquirer, creator, and builder of reputable natural health consumer foods, products, and brands. Following the acquisition of Nubreed Nutrition, Inc., Emergence has become a North American developer and distributor of branded sports and nutrition specialty supplements. The Company is currently considering several development projects.
For further information on the Company, please contact: Joseph Byrne, President & Chief Executive Officer and a Director at phone: 519-257-0460 or by email at: firstname.lastname@example.org.
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: closing and the terms and conditions of the proposed transaction; the business and operations of the Company after closing the proposed transaction. Forward looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; and the uncertainties surrounding the nutraceutical and botanical industry. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward- looking statements, whether as a result of new information, future events or otherwise, except as required by law. There can be no assurance that the proposed transaction will occur or that the anticipated financial, economic or strategic benefits will be realized.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) or OTC Markets accepts responsibility for the adequacy or accuracy of this press release.
Emergence Global Enterprises Inc.
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