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‘Simply Better Brands’ will continue expansion by exploring strategic acquisitions of more Millennial and Generation-Z brands
VANCOUVER, British Columbia, April 29, 2021 (GLOBE NEWSWIRE) -- PureK Holdings Corp. (the "Company" or "PureK") (TSX Venture: PKAN) is pleased to announce its name change from "PureK Holdings Corp." to "Simply Better Brands Corp." (the "Name Change"). The Company expects the Name Change and a change to its ticker symbol to occur on May 3. The common shares of the Company will continue to trade on the TSX Venture Exchange under its new trading symbol, SBBC, commencing at market open on May 3. The Company's new CUSIP is 82888R105 and its new ISIN is CA82888R1055.
The Name Change highlights the Company’s transition from a CBD and plant-based wellness company to that of a global health, wellness and lifestyle company. "Simply Better Brands" reflects the Company’s commitment to promoting healthy and active lifestyles while building the brands which make them possible. In addition to expanding its majority-owned CBD subsidiary brand, PureKana, LLC ("PureKana"), the Company has over the past five months made or announced strategic acquisitions in industry-leading health, wellness, beauty, pet and lifestyle brands and companies.
"We’ve thoughtfully curated a robust portfolio of differentiated and growing brands that emotionally connect with our coveted demographic of active Millennial and Generation Z consumers," says the Company's CEO Kathy Casey. "We will now leverage our extensive consumer products experience to invest in the omni-channel and global growth of these brands while focusing on operational synergies."
As previously announced, in February 2021, the Company acquired the industry-leading clean-formula skincare company, No B.S. Life, LLC ("No B.S. Skincare"), while in March 2021, the Company executed a binding term sheet ("LOI") to acquire TRU Brands Inc. ("TRU Brands"). Both No B.S. Skincare and TRU Brands are groundbreaking female-led companies in North America that have expanded the Company’s footprint across the beauty and health and wellness sectors. TRU Brands products are available at Costco Canada East locations, and sold online through major U.S. retailers, including Target, Walgreens, and select Whole Foods locations.
"Both No B.S. Skincare and TRU Brands have tremendous and proven female leadership behind them," continues Kathy Casey. "Going forward, the Company will be focused on exploring acquisition opportunities in the following growth verticals: wellness, beauty, plant-based food and active lifestyle brands and technologies."
Completion of the Name Change is subject to the receipt of all required regulatory approvals. Pursuant to the provisions of the Business Corporations Act (British Columbia) and the articles of the Company, shareholder approval for the Name Change is not required, and consequently, the Company is not seeking shareholder approval for the Name Change. Shareholders of the Company are not required to exchange their existing share certificates for new certificates bearing the Company's new name. The Name Change does not affect the Company's share structure or the rights of the Company's shareholders, and no further action is required by existing shareholders.
About PureK Holdings Corp. (to be renamed Simply Better Brands Corp.)
PureK Holdings Corp. (to be renamed Simply Better Brands Corp.) leads an international omni-channel platform with diversified assets in the emerging plant-based, holistic wellness and lifestyle consumer product categories. The Company’s mission is focused on leading innovation for the informed Millennial and Generation Z generations in the rapidly growing plant-based, natural, and active lifestyle space. The Company continues to focus on expansion into high-growth consumer product categories including CBD products, plant-based food and beverage, and the global pet and skincare industries, and other relevant growth sectors. For more information on the Company, please visit https://purekana.com/investor-relations
For further information:
Chief Financial Officer
Ph: +1 (855) 553-7441
Media and Investor Relations
Ph: +1 (917) 232-8960
Certain statements contained in this news release constitute "forward-looking information" and "forward looking statements" as such terms are used in applicable Canadian securities laws. This news release contains forward-looking statements relating to, but not limited to: statements regarding the Company's plans with respect to, and timing of, completion of the Name Change; the Company's acquisition activities. Forward-looking statements and information are based on plans, expectations and estimates of management at the date the information is provided and are subject to certain factors and assumptions, including, among others, that the Company’s financial condition and development plans do not change as a result of unforeseen events, and that the Company obtains necessary regulatory approvals. Forward-looking statements and information are subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking statements and information. Factors that could cause the forward-looking statements and information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, that occurrences such as those referred to above are realized and result in delays, or cessation in planned work, that the Company’s financial condition and development plans change, and delays in regulatory approval, as well as the other risks and uncertainties applicable to the Company, as set forth in the Company’s Filing Statement in respect of its qualifying transaction filed under the Company’s profile at www.sedar.com. The Company undertakes no obligation to update the forward looking statements and information, other than as required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.