ANAHEIM, CA--(Marketwired - May 15, 2013) - LiveWire Ergogenics, Inc. (
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: (
About LiveWire Ergogenics, Inc. (
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:
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Investor Information visit http://www.otcmarkets.com/stock/LVVV/quote
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