Bionoid Pharma, Inc. Signs Binding Letter of Intent to Acquire Main E-Commerce Platform of Your Supplement Supply Store Ltd.
Rhea-AI Summary
Bionoid Pharma (OTC PINK:BINP) has signed a Binding Letter of Intent to acquire EnhancedSupplements.net, the main e-commerce platform of Your Supplement Supply Store The acquisition, structured as an Asset Purchase Agreement, will allow Bionoid to retain all revenue generated before the final agreement signing. The company plans to integrate the platform with its Maverick AI capabilities to enhance customer experiences in the health and wellness sector. This strategic move aims to accelerate Bionoid's expansion in the e-commerce space and strengthen its market presence.
Positive
- Immediate revenue retention from the e-commerce platform prior to final agreement
- Strategic expansion into health and wellness e-commerce sector
- Integration opportunity with existing Maverick AI technology
Negative
- No disclosed acquisition cost or financial terms
- Pending final Asset Purchase Agreement completion
TORONTO, ON / ACCESSWIRE / November 12, 2024 / Bionoid Pharma, Inc. ("Bionoid") (OTC PINK:BINP) is excited to announce the signing of a Binding Letter of Intent (LOI) with Your Supplement Supply Store Ltd. to acquire its leading e-commerce platform, EnhancedSupplements.net. This acquisition marks a pivotal step in Bionoid's strategic growth plan to accelerate its expansion into the health and wellness sector, supported by a scalable e-commerce platform that can be seamlessly enhanced with Maverick AI.
Under the terms of the LOI, Bionoid will retain all revenue generated prior to the signing of the final Asset Purchase Agreement (APA), ensuring a smooth transition of ownership and uninterrupted operations. This transaction, structured as a straightforward Asset Purchase Agreement, will allow Bionoid to quickly integrate EnhancedSupplements.net into its expanding portfolio. This acquisition is expected to strengthen Bionoid's presence in the e-commerce space and propel growth within the health and wellness market.
"Our acquisition of EnhancedSupplements.net is an exciting opportunity for Bionoid to leverage our AI capabilities and expand our footprint in health and wellness," said Wayne Cockburn, CEO of Bionoid Pharma, Inc. "This is an important step in our long-term vision to deliver innovative, AI-driven solutions that enhance customer experiences and build brand loyalty."
For further information, contact:
Wayne Cockburn, CEO
Phone: (905) 505-0770
Email: bionoidpharma@gmail.com
www.bionoidpharma.com
SOURCE: Bionoid Pharma, Inc.
View the original press release on accesswire.com
FAQ
What is Bionoid Pharma (BINP) acquiring in the November 2024 deal?
How will BINP handle revenue from EnhancedSupplements.net during the acquisition?
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