Enertopia Closes Binding LOI for Acquisition of Supplements
Business
Vancouver, BC -- March 10, 2016 -- InvestorsHub NewsWire
-- Enertopia Corporation (ENRT-OTCBB) (TOP-CSE) (the
"Company" or "Enertopia") is pleased to announced it has closed a
binding Letter Of Intent to acquire 100% of an established
profitable private nutritional vitamin/supplement company.
The established profitable private nutritional
vitamin/supplement company has been in business for over 5 years
showing good positive cash flows. All products are manufactured by
a GMP, NSF, FDA approved manufacturer in the United States.
Enertopia has agreed subject to further due diligence, review of
financials and financing to a total amount of $350,000 for the
acquisition, with $300,000 due on the signing of the Definitive
Purchase Agreement. The Definitive Purchase Agreement is expected
to be completed before the end of April.
One of Enertopias initiatives is the task to grow its business
in the Health and Wellness sector. Over the past several months
Enertopia has been very dedicated in meeting its objectives by
reviewing businesses that will enable the Company to pursue these
opportunities in health and wellness. In particular, Enertopia has
been focused on nutritional vitamin and supplement businesses. The
Company believes this $20 billion plus market in the United States
alone offers significant opportunities currently and for the
future.
As the increased aging demographic is living longer, they are
looking for natural and holistic ways to help them stay youthful
and healthy through their twilight years. Health is not just a
goal, it is both a lifestyle choice and a thriving consumer market
continuing to grow at a pace of 5% per year. This is well above the
growth of the United States economy as more people every year move
to natural and holistic ways to healing and better wellbeing.
Enertopia believes that the confluence of people being their own
personal advocates, rising incomes, mobile technology and
e-commerce platforms make the supplements business and its over
35,000 stores ripe for mergers and acquisitions that provide
opportunities over the next decade.
We are very excited about the unfolding of events in the coming
weeks. We as a company thrive to be there for our clients and
consumers and to be there to provide an option for them to turn to
for a more fulfilling, healthier and happier lifestyle. We are
dedicated to helping and empowering lives and making a difference,
stated CEO, Mr. Robert McAllister.
The Company also announces that the Needle in the Haystack
challenge has ended with no submissions meeting the requirements to
qualify under the contest rules.
About Enertopia
The Companys mission is to empower people with a better way of
living through healthy lifestyle choices in helping you live your
life your way. Our core values of honesty, integrity, and
commitment help to define our corporate practices and demonstrate
our dedication in helping individuals whether they are encountering
health issues based on age, diet or have suffered a traumatic
physical, mental or an emotional event.
Enertopia's shares are quoted in Canada with symbol TOP and in
the United States with symbol ENRT. For additional information,
please visit www.enertopia.com or v-love.co or call
Robert McAllister: (250) 765-6412
FORWARD-LOOKING STATEMENTS
This release includes forward-looking statements. Statements which
are not historical facts are forward-looking statements. The
Company makes forward-looking public statements concerning its
expected future financial position, results of operations, cash
flows, financing plans, business strategy, products and services,
competitive positions, growth opportunities, plans and objectives
of management for future operations, including statements that
include words such as anticipate, if, believe, plan, estimate,
expect, intend, may, could, should, will, and other similar
expressions are forward-looking statements. Such forward-looking
statements are estimates reflecting the Companys best judgment
based upon current information and involve a number of risks and
uncertainties, and there can be no assurance that other factors
will not affect the accuracy of such forward-looking statements.
Access to capital, or lack thereof, is a major risk and there is no
assurance that the Company will be able to raise required working
capital. Factors which could cause actual results to differ
materially from those estimated by the Company include, but are not
limited to, government regulation, managing and maintaining growth,
the effect of adverse publicity, litigation, competition and other
factors which may be identified from time to time in the Companys
public announcements and filings. There is no assurance that
existing capital is sufficient for the Companys needs or that it
will need to attempt to raise additional capital. There is no
assurance that any planned corporate activity, business venture, or
initiative will be pursued, or if pursued, will be successful.
The CSE has not reviewed and does not accept responsibility for
the adequacy or accuracy of this release