Wheat Ridge, CO -- February 18, 2021 -- InvestorsHub NewsWire --
Torque Lifestyle Brands Inc. (OTC
Pink: TQLB) ("Torque Lifestyle" or the "Company") (www.torquelb.com) an emerging
leader in the active lifestyle sports nutrition and supplements
marketplace, is excited to announce the signing of a Letter of
Intent (the "LOI") to acquire American Metabolix (AmericanMetabolix.com), a
leading producer of sports nutrition and health supplements
products.
American Metabolix has become a rapidly growing premium supplement
company in the world with sports nutrition and Ketogenics ("Keto").
Its products are featured and available at GNC, Bodybuilding.com,
and other high end sports nutrition retailers globally. American
Metabolix products were sold in over 600 brick and mortar locations
in 2020 and are expected to increase that number through 2021. The
Company's revenues were in excess of $1 million in the pandemic
year of 2020 and they expect to substantially increase that as
COVID related issues subside and as online presence and spend
increases.
Leonard K. Armenta Jr, President of Torque Lifestyle, noted, "Jason
and Markus have built something special at American Metabolix, and
we are excited to bring the business into our model and leverage
its cutting-edge product development, industry leading quality
standards, and broad distribution footprint. They are trailblazers
in the supplements space, disrupting the market with the world's
first keto meal replacement product. We look forward to building on
that tradition as we broaden our product category reach and expand
our distribution resources."
American Metabolix was founded in 2012 by Jason Duran and Markus
Trillsch, both of whom have established themselves as experienced
innovators in the sports supplement industry, developing multiple
disruptive brands and products. The pair were first involved in
Cellucor, beginning in 2003, and left in 2011 to launch American
Metabolix, with a dedicated vision centered on quality and
authenticity.
American Metabolix has gone on to win awards as a sports nutrition
and supplements brand in every relevant category while remaining
true to its core value proposition.
Management notes that "Keto" is actually an abbreviation for
"ketosis", which refers to a metabolic state involving the
transformation of stored fatty tissue into ketones by the liver to
energize basic body functions, which the liver is programmed to do
when facing an absence of new carbohydrates in fresh dietary
inputs.
The Keto diet trend was ranked as the most popular consumer diet in
the 7th annual Pollock Communications and Today's Dietitian "What's
Trending in Nutrition" 2019 survey. The global ketogenic diet
market is expected to reach nearly $15 billion by 2027, according
to a recent report by Grand View Research.
"We are very excited about leveraging and scaling the tremendous
foundation that has been built at American Metabolix, and we look
forward to updating current and prospective investors as we move
toward finalization of this acquisition, pending a process of
good-faith negotiation of final terms," added Armenta.
About Torque
Lifestyle Brands Inc.
Torque Lifestyle Brands Inc. (OTC
Pink: TQLB) is focused on driving performance through
acquisitions and by advancing original brands in the rapidly
growing supplemental nutrition marketplace.
Cautionary
Statement Regarding Forward-Looking Statements
Statements contained herein that
are not based upon current or historical fact are forward-looking
in nature and constitute forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. Such forward-looking
statements reflect the Company's expectations about its future
operating results, performance, and opportunities that involve
substantial risks and uncertainties. These statements include but
are not limited to statements regarding departure of the company's
CEO. When used herein, the words "anticipate," "believe,"
"estimate," "upcoming," "plan," "target," "intend" and "expect" and
similar expressions, as they relate to Progressive Care Inc., its
subsidiaries, or its management, are intended to identify such
forward-looking statements. These forward-looking statements are
based on information currently available to the Company and are
subject to a number of risks, uncertainties, and other factors that
could cause the Company's actual results, performance, prospects,
and opportunities to differ materially from those expressed in, or
implied by, these forward-looking statements.
Corporate
Contact:
invest@torquelb.com
Investor
Relations Contact:
EDM Media, LLC
https://edm.media
(800) 301-7883