LiveWire Ergogenics, Inc. Announces Letter of Intent Relating to an Asset Purchase and Royalty Agreement With Adia Nutrition,...
May 15 2013 - 3:05PM
Marketwired
LiveWire Ergogenics, Inc. (OTCQB: LVVV) has entered into a Letter
of Intent (the "Letter") to acquire production assets and to pay
royalties to Adia Nutrition, Inc. ("Adia") (PINKSHEETS: ADIA).
Pursuant to the Letter, LiveWire would acquire the assets used
to operate the business of Adia and simultaneously enter into a
revenue-based royalty agreement. Adia would receive $1.0 million of
convertible preferred stock in LiveWire and will remain a public
company receiving royalty income based upon the continued growth of
Adia products sold over the internet and in new markets. LiveWire
would assume responsibility for manufacturing, order fulfillment,
distribution, marketing, accounting and legal matters. Except as
expressly set forth in the definitive agreements providing for the
asset purchase and royalty payments, LiveWire would not assume any
liabilities of the Company.
Wen Peng, CEO of Adia, said, "This transaction allows us to
partner with LiveWire and consolidate distribution with a partner
who has exceptional order fulfillment and state of the art
electronic interaction with retailers. Adia will receive a royalty
stream from existing distribution and we can focus our energies in
marketing our products, without the expense or time associated with
inventory management and order fulfillment. This partnership moves
our company forward significantly."
Bill Hodson, CEO of LiveWire commented, "Adia represents a
natural brand extension for LiveWire and allows us to expand our
sales channel. We believe by offering Adia products through our
existing network, we can reach more retailers with better pricing,
and lower our costs across more products. We are very excited to
add Adia to the LiveWire portfolio and we look forward to expanding
our brands."
About Adia Nutrition, Inc.
Adia Nutrition is a publicly traded company: (PINKSHEETS: ADIA)
specializing in great tasting and shelf stable probiotics.
Probiotics are live beneficial microorganisms that are found in the
digestive tract. Adia offers five flavors of probiotic drink
powders including the first probiotic powder to contain a natural
appetite suppressant called Adia Slim and two flavors of probiotic
chews. Flavors include Raspberry Lemonade with Luralean™, Lemon
Lime with electrolytes, Berry, Orange Mango and a sugar-free Green
Tea. They offer significantly more probiotics and significantly
less sugar and calories than the more traditional yogurts and
dairy-based drinks. Adia sells their product across the country and
can be found in health clubs, independent pharmacies and health
food stores. According to a market research report titled
'Probiotics Market,' published by Markets and Markets
(www.marketsandmarkets.com), the global probiotics market is
expected to be worth US $32.6 billion by 2014. Moreover, the global
market is expected to record a CAGR of 12.6%. For more information,
visit our website at www.adianutrition.com.
About LiveWire Ergogenics, Inc. (OTCQB: LVVV)
and LiveWire Energy™ Chews LiveWire Energy™ chews are
manufactured in Anaheim, California by LiveWire Ergogenics,
Inc.
Designed for consumers with an action-packed lifestyle, LiveWire
Energy™ chews are pocket-sized, portable alternatives to bulky
energy drinks or shots. Available in seven different flavors, the
Company's grab-n-go packaging responsibly displays the amount of
caffeine in each chew, including Citrus Mango (90 mg caffeine),
Pomaberry (90 mg caffeine), Chocolate (100 mg caffeine), Mint
Chocolate (120 mg caffeine), Sour Apple (90 mg caffeine), Cinnamon
Fire (90 mg caffeine), and Coffee (100 mg caffeine).
LiveWire Ergogenics, Inc. was formed in 2008 and its products
are available for purchase at thousands of retail outlets
nationwide or are available online at:
http://www.livewireenergy.com
For additional information: Telephone:
877.678.7169 Email: info@livewireenergy.com Facebook:
http://www.facebook.com/LiveWireEnergychews Twitter:
http://twitter.com/#!/EnergyChews Investor Information visit
http://www.otcmarkets.com/stock/LVVV/quote
Safe Harbor Forward-Looking Statements To
the extent that statements in this press release are not strictly
historical, including statements as to revenue projections,
business strategy, outlook, objectives, future milestones, plans,
intentions, goals, future financial conditions, future
collaboration agreements, the success of the Company's development,
events conditioned on stockholder or other approval, or otherwise
as to future events, such statements are forward-looking, and are
made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. The forward-looking
statements contained in this release are subject to certain risks
and uncertainties that could cause actual results to differ
materially from the statements made.
INVESTOR RELATIONS CONTACT John Davenport IRvox
Communications 877-678-7169 Email: Email Contact
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