New You, Inc. Merges with ST Brands to Create Holding Company for Global Cannabis-Related Products and Services
Result will be a platform to acquire, finance, and grow synergistic CBD operations and sales
Carlsbad, CA - (NewMediaWire) - May 12, 2021 - New You, Inc. (OTCQB: NWYU) today announced, as disclosed in an 8-K dated May 7, entry into an exchange agreement with ST Brands, Inc., to expand into a holding company of assets that create, develop, market, and sell unique and proprietary cannabidiol (“CBD”) products and services to various segments of the global consumer market.
On May 6, 2021, ST Brands' principal Jason Frankovich was appointed to serve as the new Executive Chairman of the Board.
Ray Grimm will continue as our CEO and New You, Inc. will be the first operating entity to receive the benefits of the strategic resources.
"ST Brands brings years of cannabidiol-related product development expertise along with the capital resources necessary to capitalize on surging global demand for new and optimized CBD products," stated Mr. Grimm. "We are in advanced discussions to acquire several entities that lead their respective fields with the intention of applying our skills and networks to accelerating their top-line growth and improving profitability.”
Mr. Frankovich, age 46, is our new Executive Chairman of the Board of Directors. Since 2012, Mr. Frankovich has served as Founder and principal executive of ST Biosciences, a holding company for cannabis-related companies, where he oversees operations and business development. From 2008 - 2013, he served as partner and trade finance coordinator at the Atlas Investments group, where he specialized in project management of commercial real estate and multi-family investment portfolios. From 2012-2015, he served as partner in New York City-based Hard Beverages and Jetset in New York, a lifestyle beverage company. Previously, he served as Head of Commercial Banking for Concord Bankers and as Marketing Special Assistant at Ameriquest Mortgage Bankers.
About New You, Inc.:
New You, Inc. is a publicly-traded company (NWYU) that currently holds one subsidiary, NEWYOU LLC, a leading marketer and distributor of premium CBD products founded by CEO Ray Grimm Jr. A visionary entrepreneur and wellness industry pioneer, Grimm has founded six health and wellness companies growing three of them to over $50 million in sales in their first five years. New You, Inc. management will be focused on strategies to diversify revenue streams and develop new business models in the months ahead to determine which brands and/or products should be added.
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