The Company is Divesting its Wellness Unit to Create Value
for Shareholders and to Focus on Commercialization of its Safety
Shot Dietary Supplement
JUPITER,
Fla., Sept. 26, 2024 /PRNewswire/ -- Safety
Shot, Inc. (Nasdaq: SHOT) ("Safety Shot" or "the Company") is
excited to announce that the Company has entered into a Separation
and Exchange Agreement with its subsidiary Caring Brands, Inc.
("Caring Brands") whereby Caring Brands will operate as its own
entity.
Safety Shot is transferring its wellness consumer products
segment, along with associated assets, intellectual property, and
liabilities, to Caring Brands, an innovative developer of natural
based therapeutics and wellness products. Caring Brands focuses on
the treatment of hair growth, psoriasis, vitiligo, and atopic
dermatitis (eczema).
Spinning off the wellness unit will help each separate entity to
pursue its own distinct strategy and business, while allowing
shareholders to evaluate how each business is performing.
Moving forward Caring Brands will be responsible for all
costs associated with the operation of its wellness business.
Caring Brands' intent is to go public via an initial public
offering (IPO) within the next three months.
As part of the agreement to divest Caring Brands, Safety Shot
will receive three million shares of Caring Brands stock. To create
value for shareholders, the Company's Board plans to issue a
dividend of two million shares for Safety Shot shareholders.
"Separating our wellness business into its own public entity is
a strategic move that allows the Company to maximize its
efforts on the commercialization of the Safety Shot Dietary
Supplement, our proprietary supplement that reduces Blood Alcohol
Content by supporting the metabolism of alcohol.
About Safety Shot, Inc.
Safety Shot, Inc., a wellness and dietary supplement company,
has developed Safety Shot, the first patented wellness product on
Earth that lowers blood alcohol content by supporting its
metabolism, while boosting clarity, energy, and overall mood.
Safety Shot is available for purchase online
at DrinkSafetyShot.com and Amazon. The Company is
introducing business-to-business sales of Safety Shot to
distributors, retailers, restaurants, and bars throughout 2024. For
more information on Safety Shot,
visit www.drinksafetyshot.com and Amazon.
Forward-Looking Statements
This press release includes certain disclosures that contain
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995 about us and our industry
that involve substantial risks and uncertainties. All statements
other than statements of historical facts contained in this press
release, including statements regarding Safety Shot's ability to
develop and commercialize a product that lowers blood alcohol
content, the timing, progress and results of non-clinical studies
and clinical trials, including our product development plans and
strategies, Safety Shot's future results of operations or financial
condition, business strategy and plans, and objectives of
management for future operations, are forward-looking statements.
In some cases, you can identify forward-looking statements because
they contain words such as "anticipate," "believe," "contemplate,"
"continue," "could," "estimate," "expect," "intend," "may," "plan,"
"potential," "predict," "project," "should," "target," "will," or
"would" or the negative of these words or other similar terms or
expressions. Forward-looking statements are based on Safety Shot's
current expectations and are subject to inherent uncertainties,
risks and assumptions that are difficult to predict. Factors that
could cause actual results to differ include, but are not limited
to, our ability to comply with applicable U.S. and foreign laws,
rules, and regulations, product liability claims, our ability to
develop and market Safety Shot and the risks and uncertainties that
are described more fully in the section titled "Risk Factors" in
Safety Shot's Form 10-Q for the fiscal year ended June 30, 2024, filed with the Securities and
Exchange Commission on August 15,
2024, and its other filings with the Securities and Exchange
Commission. Forward-looking statements contained in this press
release are made as of this date, and Safety Shot undertakes no
duty to update such information except as required under applicable
law.
Media and Investor Contact:
Autumn Communications
Jess Weinberger
Phone: 201-213-3239
Email: shot@autumncommunications.com
Investor Relations
Medon Michaelides
Phone: 561-244-7100
Email: investors@drinksafetyshot.com
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SOURCE Safety Shot
