Synergy CHC Corp Acquires Another Quality Brand in
"UrgentRx"
WESTBROOK, ME-(Marketwired - Nov 16, 2015) - Synergy CHC Corp
(OTCQB: SNYR) a consumer health care company, today announced it
has acquired a 100% ownership stake in Breakthough Products, Inc.
(UrgentRx). UrgentRx is engaged in the business of developing and
selling medications for headache, heart burn, allergy attack, ache
and pain, and upset stomach in the form of powders.
Under the terms of the agreement, Synergy purchased all the
issued and outstanding capital stock of UrgentRx in exchange for
6,000,000 shares of Synergy common stock. In addition, Synergy
agreed to pay a royalty to a trust for the benefit of the UrgentRx
shareholders equal to 5% of gross sales of the UrgentRx products
following the first $5,000,000 in gross sales on a quarterly basis
for a period of seven years from the closing date.
"We believe UrgentRx will continue to thrive as it joins
Synergy's expanding product portfolio while leveraging the momentum
of the platform and multiple economies of scale it provides," said
Jordan Eisenberg, CEO of UrgentRx. "This is a tremendous
opportunity for UrgentRx to continue to be consumers' best choice
for fast, convenient relief. I am thrilled to join Jack Ross and
the Synergy Management Team. I believe we have a real opportunity
to build a world-class consumer healthcare business bolstered by
the most exciting and innovative brands in the industry."
"We are pleased to add another unique offering to our portfolio;
it is consistent with the company's strategy to grow by further
acquisition. We are deliberately seeking to generate shareholder
value through the addition of products that help improve the lives
of customers while leveraging our existing distribution
relationships. We will continue to be active on the acquisition
trail," said Jack Ross, President and CEO of Synergy.
About UrgentRx
UrgentRx produces a line of fast-acting, portable OTC
medications that provide right now relief for today's busy,
on-the-go consumer. UrgentRx Fast Powders are innovative,
fast-acting flavored powder medications in patented credit
card-sized packets. They can be taken without water, providing
immediate relief for a wide variety of everyday ailments, whenever
and wherever they strike. UrgentRx produces medications to treat
allergy attacks, headaches, aches and pains, heartburn, and upset
stomach, as well as a heart attack first aid that has helped save
multiple lives.
UrgentRx is successfully disrupting and bringing much-needed
innovation to the OTC category by offering products that fit
contemporary consumers' lifestyles. Answering these consumers'
unmet needs, UrgentRx is rapidly becoming the "go-to" brand for
on-the-go relief. The line is sold in over 35,000 stores
nationwide, including many leading national food, drug, mass,
convenience and travel retailers. Notably, UrgentRx pioneered the
use of "found space" displays that take advantage of
previously-unutilized space at checkout.
The company was orginally funded by Sam Zell, David Bonderman,
Herb Simon, Academy Award-winning actress Hilary Swank, worldwide
talent agency WME, as well as multiple family offices. UrgentRx has
been featured on national talkshows The Doctors, Ellen and The View
and has received coverage in The New York Times, Entrepreneur,
Fortune, CNN, The Wall Street Journal, CNBC and Forbes. In 2015,
UrgentRx won the prestigious Inc5000 and was ranked as the 168th
fastest-growing company in America.
Based in Denver, Colorado, UrgentRx was founded by two-time
Goldman Sachs "Most Intriguing Entrepreneur" Jordan Eisenberg.
CREO Capital Securities, LLC was the investment bank for
UrgentRx and its shareholders in this transaction. Joel Montminy,
President & CEO of CREO said "The Synergy team adeptly analyzed
and efficiently closed on this highly complementary combination.
Under their watch, we believe UrgentRX will achieve exciting
performance in the years ahead."
About Synergy CHC Corp. Synergy CHC Corp. is a consumer health
care company that is in the process of building a portfolio of
best-in-class consumer product brands. Synergy's strategy is to
grow its portfolio both organically and by further acquisition.
Synergy's diversified portfolio now includes FOCUSFactor, Neuragen,
Hand MD, and UrgentRx. For more information, please visit
www.synergychc.com.
About FOCUSfactor "Another Synergy Brand" FOCUSfactor is sold at
America's leading retailers such as Costco, Sam's Club, Wal-Mart,
BJ's Walgreens and The Vitamin Shoppe. FOCUSfactor, America's
leading brain health supplement, is a nutritional supplement that
includes a proprietary blend of brain supporting vitamins,
minerals, antioxidants and other nutrients. In December 2012, the
United States Patent and Trademark Office issued US Patent
8,329,227 covering FOCUSfactor's proprietary formulation "for
enhanced mental function." The issuance of the patent marked one of
the few times a patent has been issued for a nationally branded
nutritional supplement. FOCUSfactor is clinically tested with
results demonstrating improvements in focus, concentration and
memory in healthy adults. www.focusfactor.com
About Neuragen "Another Synergy Brand" Neuragen is a topical
product that works directly at the site of the pain as opposed to
oral products. Neuragen reduces the spontaneous firing of damaged
peripheral nerves. By calming these firings at the source, Neuragen
is clinically shown to reduce shooting and burning pains quickly
and without the side effects of orally taken medications. This is
in part due to the small lipophilic molecules found in Neuragen
which rapidly carry the active ingredients through the rough outer
layer of the skin to the site of the pain. Neuragen is available
over the counter in most local pharmacies either in the diabetic
section or the analgesic (pain) section. For more information,
please visit www.neuragen.com.
About Hand MD "Another Synergy Brand' Hand MD is the world's
first anti-aging skincare line formulated specifically for the
hands. Hands reveal a woman's true age and the rejuvenation of the
hand has become women's #1 aging concern. Developed by Kara
Harshbarger and renowned celebrity dermatologist Dr. Alex Khadavi,
Hand MD's extensive clinical trials show significant improvement in
the appearance of fine lines and wrinkles, skin hydration,
hyper-pigmentation and radiance. HAND MD launched on QVC and sold
out in an astonishing 5 minutes. www.hand-md.com
Forward-Looking Statements This press release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995 that are subject to risks
and uncertainties. All statements, other than statements of
historical facts, regarding management's expectations, beliefs,
goals, plans or Synergy's prospects should be considered
forward-looking. Readers are cautioned that actual results may
differ materially from projections or estimates due to a variety of
important factors, including: Synergy's ability to integrate the
Urgent Rx and other recently acquired product lines into its
current operations; Synergy's dependence on third parties for its
research and development, manufacturing and distribution functions;
Synergy's' dependence on its license relationships; the risks and
uncertainties associated with Synergy's ability to manage its
limited cash resources; obtaining additional financing to support
Synergy's operations; protecting the intellectual property
developed by or licensed to Synergy; and Synergy's ability to build
its operations to support its business strategy and promote its
products. These and other risks are described in greater detail in
Synergy's filings with the SEC, copies of which are available free
of charge at the SEC's website (www.sec.gov) or upon request from
Synergy. Synergy may not actually achieve the goals or plans
described in its forward-looking statements, and investors should
not place undue reliance on these statements. Synergy assumes no
obligation and does not intend to update these forward-looking
statements, except as required by law.
Contact: Jack Ross Chairman / CEO Synergy CHC Corp
Jack@synergychc.com 615-939-9004
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