LAS VEGAS--(BUSINESS WIRE)--Publicly-held Smokefree Innotec, Inc. (OTC Pink: SFIO) announces the completion of the reverse takeover by Betta4u Brands Inc. and confirmation of SFIO business model shift to the health and wellness retail products market.
“The focus and strategy going forward in the coming weeks will be to bring the status of the company current with OTC Markets, and begin to reveal existing contracts and revenues as well as the strategy for growing the business model exponentially with planned acquisitions,” stated Bernard Rubin, Chief Executive Officer. “We have received several new contracts with national brands that we will be announcing in the coming weeks and I’m especially excited about these new contracts will mean for our future revenues.”
Betta4U Brands Inc. announced the acquisition of high pH alkaline bottled water company NEO Water in February, 2019. The acquisition leads Betta4U's target of $100 million in annualized revenues from a growing and expanding portfolio of beverage companies to be acquired over the next 24 months. The acquisition of NEO Water was comprised of primarily cash and stock.
Smokefree Innotec has started compiling the initial information to OTC Markets needed to become current. In connection therewith, the company also plans to seek a name and symbol change by application to FINRA in order to better reflect the newly combined company’s new business model. Management expects that such milestones will be completed in the coming months. Management plans to start releasing frequent updates as there are many new material events that they wish to keep shareholders abreast of.
Universal Management has begun the closeout process with the courts to discharge as court appointed custodian. “I’m extremely pleased we were able to revitalize and transform Smokefree Innotec back into a viable business once more,” stated Corionne Washington, Court Appointed Custodian. “We believe that the Betta4U Brands leadership is ready and primed to deliver for the SFIO shareholders.”
Statements in this press release that are not historical fact may be deemed forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although Smokefree Innotec, Inc. believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, Smokefree Innotec, Inc is unable to give any assurance that its expectations will be attained. Factors that could cause actual results to differ materially from expectations include the company’s ability identify a suitable business model for the corporation.
About NEO Water:
NEO Water, founded in 2011 by health and wellness entrepreneur Ben Behrouzi, was one of the first high pH alkaline bottled water brands to achieve national distribution. Since 2011, the brand has seen consistent growth and is carried in over 2,500 locations nationwide from small to large retailers including Whole Foods Market, Giant Eagle, Acme Markets and Fred Meyer stores. NEO Water is primarily distributed by UNFI, KEHE and select Direct Store Delivery distributors to retailers across natural, grocery, convenience, wellness and specialty channels of trade. The company posted over $10 million in revenues at the time of its acquisition.
About Betta4U Brands:
Betta4U Brands Inc. is a Delaware corporation managing a growing portfolio of world-class beverages in the health and wellness space. For more information, contact firstname.lastname@example.org.