Golden Global Corp. Enters Into Letter Of Intent to Acquire 3 Fitness Centers; Announces Establishment of NUTRASTAX™ Supple...
April 07 2016 - 3:03PM
InvestorsHub NewsWire
Boca Raton, FL -- April 7, 2016 -- InvestorsHub NewsWire --
Golden Global Corp. (OTCPINK:
GLDG) today announced that in furtherance of its goal of
creating and integrating a platform of complementary fitness
industry businesses, it has entered into a letter of intent to
acquire the membership base and operating assets of three Fitness
Centers, which operate in the Ohio area.
Consummation of the acquisition is subject to the completion of due
diligence, execution of definitive transaction documents between
the parties and preparation of audited and unaudited financial
statements for the business acquired.
In addition, Golden Global Corp. also announced that it has
established its NUTRASTAX™ Fitness Supplement Division, under which
it intends to market and sell a line of fitness supplements under
the NURTRASTAX™ brand. The Company anticipates that it fitness
supplement line will include energy, fat burning, muscle building
and athletic enhancement products, which will be marketed through
established industry distributors.
Golden Global Corp. sees the planned acquisition and establishment
of the NUTRASTAX™ Fitness Supplement Division, as key steps in
creating and integrating a platform of complementary fitness
industry businesses.
Erik Blum, our CEO, stated “In keeping with our announced business
restructuring and deployment of our integrated fitness business
platform, we are acquiring three fitness centers and intend to
rebrand them as Global Fitness™ Training Centers. We intend to
promote the Global Fitness™ brand to establish fitness centers
where our trainers will specialize in developing an individual
workout plan (IWP) for each member. The IWP will include a regimen
of training and crossover workouts, combined with fitness
supplements. As no two people are alike, we believe that each
member needs a custom-tailored IWP. Our NUTRASTAX™ Fitness
Supplement Division will clearly augment operation of our planned
chain of Global Fitness™ Training Centers, while also allowing us
to market our planned product line independent of our centers. We
believe that there are significant synergies that will be achieved
by integrating these new businesses with our existing hitter system
and that together, they will form the anchor for expansion of our
overall platform.”
About Golden Global Corp. Golden Global Corp. (OTCPink:
GLDG) is a Florida-based holding company, which is engaged in
creating and integrating a platform of fitness industry
businesses.
Disclaimer/Safe Harbor
This Golden Global Corp. news release contains forward-looking
statements within the meaning of the Securities Litigation Reform
Act. The statements reflect the Company's current views with
respect to future events that involve risks and uncertainties.
Among others, these risks include failure to meet schedule or
performance requirements of the Company's contracts, the Company's
ability to raise sufficient development and working capital, the
Company's liquidity position, the Company's ability to obtain new
contracts, the emergence of competitors with greater financial
resources, and the impact of competitive pricing. In the light of
these uncertainties, the forward-looking events referred to in this
release might not occur as planned or at all.
Contact:
For Further Information Contact:
Eric Blum, CEO
ceo@goldenglobalcorp.com
561.430.5935
SOURCE: Golden Global Corp