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CURE, Inc (Stock Symbol: CURR) announces the acquisition of Sera Labs

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CURE, Inc (Stock Symbol: CURR) announces the acquisition of Sera Labs

August 18
19:06 2020
A Leader with Proprietary Products and a Multi-Channel Distribution Platform in a $20 Million Transaction

Privately held Sera Labs, a leading health and wellness company, announced today that it has entered into a Memorandum of Understanding for a 100% acquisition by CURE (OTC: CURR) for a total up-front consideration of $20 million, comprising $19 million in CURE stock at a valuation of $2.75 per share, and $1 million in cash, with an initial, additional commitment of $4 million for working capital in support of accelerating Sera Labs’ growth. The transaction also includes the potential for an earn out of up to $20 million in CURE stock at a valuation of $3.34 per share within two years of the closing of the acquisition, contingent upon Sera Labs achieving certain key financial targets. The structure of the earn out is designed to align risk and reward between CURE stockholders and Sera Labs’ management, with a focus on strong operational alignment and financial execution. The transaction is expected to close, subject to a definitive agreement and customary closing conditions, by the fourth quarter of 2020.

Sera Labs was founded in 2018. Net sales (unaudited) for the most recent quarter ended June 30, 2020, totaled $1.8 million, reflecting a steep sales growth trajectory and early strong reception for its novel products.The increase in sales, as projected for the third and fourth quarters and beyond, is subject to this agreement’s new infusion of capital, and attributable to newly signed distribution agreements, the acceptance of additional retailers and the explosive growth of Sera Labs’ digital opt-in subscription model, which is just beginning to show rapid growth in line with internal projections

CURR is a new Delivery Company that Improves Efficiency, Safety and Patient Experience that is about to take the world by storm

  • Innovative Development & Enhancement Company.
  • Balance Sheet Strengthened by $1.4 Million from June Warrant Exercise.
  • Canopy Rivers Chairman John K. Bell, FCA, FCPA, ICD.D is on CURR’s board of directors.
  • CURR has over 22 Patents and Patents Pending Worldwide
  • Applications in the Multi-Billion Dollar ED Market

For more information on CURE (OTCQB: CURR) visit: https://finance.yahoo.com/quote/CURR/profile?p=CURR

Media Contact
Company Name: CURE Pharmaceutical Holding Corp.
Contact Person: Media Relations
Email: Send Email
Phone: (805) 824-0410
Address:1620 Beacon Place Oxnard, CA 93033
Country: United States
Website: https://www.curepharmaceutical.com/

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