Galexxy Holdings Inc. to Acquire Wellbeing Farms LLC.
Rhea-AI Summary
Galexxy Holdings Inc. (GXXY) has signed a Memorandum of Understanding to acquire Wellbeing Farms LLC (WBF) in August 2022. The deal entails issuing 30 million restricted shares, representing approximately 16.5% of GXXY's outstanding stock. This strategic acquisition aims to enhance Galexxy's Techno-Health business by integrating WBF’s proprietary CBD-Mushroom products and innovative marketing strategies, including automated Smart e-kiosks. GXXY’s CEO stated that this acquisition will significantly broaden product offerings and improve market engagement.
Positive
- Acquisition of Wellbeing Farms LLC expands product offerings in the wellness sector.
- Integration of Smart e-kiosks could disrupt the vending machine industry and enhance market reach.
- Strategic focus on upward trending markets for mental health, inflammation, and heart health.
Negative
- Issuance of 30 million shares may lead to shareholder dilution.
News Market Reaction – GXXY
In the trading session that priced this news, GXXY declined 7.52%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Newport Beach, CA, July 27, 2022 (GLOBE NEWSWIRE) -- Galexxy Holdings Inc., (“Galexxy” or “GXXY”) and Wellbeing Farms LLC., (“WBF”) have signed a Memorandum of Understanding to complete a
Following the execution of a formal acquisition agreement, Galexxy will issue Thirty million (30,000,000) shares of its restricted common stock from its Treasury representing approximately
As a result of its recent reorganization, Galexxy (formerly Agtech) is consolidating a number of cutting-edge technologies and IP business assets to build a Techno-Health business focused on upward trending product markets for conditions such as mental and holistic health, anxiety and sleep, inflammation, pain and heart health, in order to increase its focus on the whole wellness industry.
Wellbeing Farms LLC., is a privately owned company specializing primarily in the production and marketing of proprietary CBD-Mushroom combination products. WBF’s uniquely distinctive marketing plan incorporates outdoor promotional Billboards in combination with strategically located Smart e-kiosks which provide same day customer convenience. The Smart e-kiosks, installed by WBF, are a key element of a nationwide plan to strategically locate intelligent, automated vending systems which have the potential to disrupt the vending machine industry.
Ross Lyndon-James, CEO of Galexxy stated that; “The WBF acquisition not only significantly expands Galexxy’s product offerings, it also incorporates a unique marketing strategy to potentially engage and remunerate tens of thousands of health, fitness and social club locations through the installation of WBF’s Smart e-kiosks.”
Michael Biagi, Wellbeing Farms COO added that “We are very pleased to merge our operations into a listed public company because it strengthens our marketing strategy. It will enable WBF to aggressively ramp up production and placement of our proprietary, intelligent, automated vending systems which have both near and long-term potential to disrupt the vending machine industry.”
Galexxy Holdings Inc. Wellbeing Farms LLC
Ross Lyndon-James Michael Biagi
E: ross@galexxy.com E: michael@wellbeingfarms.com
M: (949) 456 3972 M: (949) 335 8269
Forward-Looking Information
This press release contains “forward-looking information” and “forward-looking statements” (collectively, “statements”). All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this press release.
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