CHEYENNE, WY.— Caduceus Corp, Inc., a publicly traded holding company focused on consumer goods acquisitions, announced April 12 that the company has signed a binding letter of intent to acquire McLovin's Pet Food, Inc. The acquisition is anticipated to close by the end of April.
The terms of the agreement state that Caduceus Corp will issue an aggregate of 1.5 billion restricted common shares of Caduceus to McLovin's shareholders at a price of $0.075 per share in exchange for all of the issued and outstanding securities in the capital of McLovin's Pet Food, Inc. and a lump sum of $500,000. More details on the transaction, including operations going forward will be disclosed upon closing.
"We are excited about the opportunity to bring McLovin's under the Caduceus Corp umbrella,” said Alex Chen, chief executive officer and director of Caduceus. “Consumer goods is an important and growing sector, especially given the current times."
McLovin’s specializes in freeze-dried raw pet foods and treats. The company’s science-based approach to premium, biologically-appropriate, raw nutrition supports pets’ overall health and well-being. The company says freeze-drying preserves important vitamins, minerals and nutrients in its formulas which contain no grain, soy, gluten or artificial ingredients.
"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,” said David Ji, chief executive officer of McLovin's Pet Food. “The McLovin's products are made in USA & Canada and we believe this is a competitive advantage for us."
Caduceus Corp is a Wyoming-based holding company focusing on the acquisition and merger of commercialized businesses supplying quality, healthy and innovative products and solutions. The Company is traded on the Over-the-Counter Bulletin Board of NASDAQ under the trading symbol "CSOC".
"Our proven access to capital creates opportunities to pursue attractive targets in very profitable consumer goods space,” Chen said. “We intend to complete this transaction shortly, following which we will announce further details on the operations and what we plan for 2021."
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