Full Press Release Details
| Contact: |
| Jack Ross, Chairman / CEO |
| Synergy Strips |
| Jack@synergystrips.com |
| 615-939-9004 |
Strips Corp. Acquires Assets of America's No.1
Health Supplement, FOCUSfactor
MONICA, CA (January 26, 2015) -Synergy Strips Corp. (OTCQB:SNYR) ("Synergy"),
a company that markets and distributes consumer products primarily in the health and wellness industry, today announced
the acquisition of the FOCUSfactor brand, America's
No.1 brain health supplement, from Factor Nutrition Labs, LLC. Knight Therapeutics
Inc. (TSX:GUD), through one of its wholly owned subsidiaries ("Knight"), financed the transaction with a $6 million
secured loan. FOCUSfactor is sold at retail stores including Costco, Sam's Club, Walmart, Walgreens, CVS and The
are pleased to sell the FOCUSfactor brand to Synergy," said Paul Levinsohn,
a principal of Factor Nutrition Labs, LLC. "We have spent the past six years focused on clinical study substantiation and
expansion of FOCUSfactor in the retail sector. We believe it is the perfect time for Synergy to take FOCUSfactor
to the next level of consumer awareness."
the terms of the agreement, the secured loan will bear interest at 15 percent per annum, plus other considerations. The interest
rate will decrease to 13 percent provided Synergy meets specified equity-fundraising targets. In January 2017, the loan matures
and may be extended for up to an additional two years if revenue and profitability milestones are met.
are pleased to support Synergy in their acquisition of FOCUSfactor and look forward to this partnership with an alert partner,"
said Jonathan Ross Goodman, director of Knight.
acquisition of the FOCUSfactor
brand comes after a rare achievement in the nutritional supplement category - a patent on the product's proprietary
formulation. In December 2012, the United States Patent and Trademark Office issued U.S. Patent 8,329,227 covering FOCUSfactor's
proprietary formulation "for enhanced mental function." The issuance of the patent marked one of the few times a patent
has been issued for a nationally branded nutritional supplement.
issuance of the patent for FOCUSfactor came after a 2011 clinical study report which showed that FOCUSfactor improves memory,
concentration and focus in healthy adults. The clinical study of FOCUSfactor was sponsored by Factor Nutrition Labs and was conducted
by Cognitive Research Corporation, a full-service contract research organization that specializes in the effects of nutritional
supplements and pharmaceutical products on human cognition. The study was conducted in compliance with all applicable country
requirements for the conduct of clinical studies, including those outlined by the International Conference on Harmonization, Consolidated
Guidelines on Good Clinical Practices, and the Food and Drug Administration.
are thrilled to add the FOCUSfactor brand to our developing portfolio of best-in-class consumer brands. We intend to build on
the product's proven success and retail strategy," said Jack Ross, CEO of Synergy. "We are also pleased to partner
with a successful lender with a track record of helping to build solid companies."
Synergy Strips Corp.
Strips Corp. (OTCQB:SNYR) is a U.S. company that is in the process of building a portfolio of best-in-class consumer product brands.
Synergy's strategy is to grow its portfolio both organically and by further acquisitions.
is sold at America's leading retailers such as Costco, Sam's Club, Walmart, Walgreens and The Vitamin Shoppe. FOCUSfactor,
America's leading brain health supplement, is a nutritional supplement that includes a proprietary blend of brain supporting
vitamins, minerals, antioxidants and other nutrients. In December 2012, the United States Patent and Trademark Office issued US
Patent 8,329,227 covering FOCUSfactor's proprietary formulation "for enhanced mental function." The issuance
of the patent marked one of the few times a patent has been issued for a nationally branded nutritional supplement. FOCUSfactor
is clinically tested with results demonstrating improvements in focus, concentration and memory in healthy adults.
Knight Therapeutics Inc.
Therapeutics Inc., headquartered in Montreal, Canada, is a specialty pharmaceutical company focused on acquiring or in-licensing
innovative pharmaceutical products for the Canadian and world markets. Knight's shares trade on the TSX under the symbol
GUD. Visit: www.gud-knight.com.
press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that
are subject to risks and uncertainties. All statements, other than statements of historical facts, regarding management's
expectations, beliefs, goals, plans or Synergy's prospects should be considered forward-looking. Readers are cautioned that
actual results may differ materially from projections or estimates due to a variety of important factors, including: Synergy's
ability to integrate the FOCUSfactor product line into its current operations; Synergy's dependence on third parties for
its research and development, manufacturing and distribution functions; Synergy's' dependence on its license relationships;
the risks and uncertainties associated with Synergy's ability to manage its limited cash resources; obtaining additional
financing to support Synergy's operations; protecting the intellectual property developed by or licensed to Synergy for
FOCUSfactor; and Synergy's ability to build its operations to support its business strategy and promote its products. These
and other risks are described in greater detail in Synergy's filings with the SEC, copies of which are available free of
charge at the SEC's website (www.sec.gov) or upon request from Synergy. Synergy may not actually achieve the goals
or plans described in its forward-looking statements, and investors should not place undue reliance on these statements. Synergy
assumes no obligation and does not intend to update these forward-looking statements, except as required by law.