Jupiter Wellness Closes Acquisition of Safety Shot, Plans to Change Company Name and Focus on Launch of World’s First Rapid Blood Alcohol Detox Drink
11 Agosto 2023 - 9:30AM
Jupiter Wellness, Inc. (Nasdaq: JUPW), a diversified company that
supports health and wellness, today announced it closed the
acquisition of all of the operating assets of GBB Drink Lab Inc.,
including the formula, patent, know-how, clinical data, and
inventory of the world’s first rapid blood alcohol detox drink,
branded as Safety Shot.
Several members of the GBB Drink Lab’s executive
team, board members and advisors have joined Jupiter Wellness
including Josh Wagner who now serves as the Company’s Chief Revenue
Officer and David Sandler who serves as Jupiter’s Chief Operating
Officer. John Gulyas, Founder and President of GBB Drink Lab has
joined Jupiter’s Board of Directors. Rick Pascuci, a beverage
industry innovator, and David Long, CEO of Orange Theory Fitness,
both former advisors to GBB Drink Lab, now serve on Jupiter’s
Advisory Board.
Jupiter Wellness expects that a majority of its
revenues will be driven by its Safety Shot business unit in the
coming quarters and years. In alignment with its forecasts, Jupiter
plans to change the Company’s name to Safety Shot and change its
stock ticker and CUSIP.
The world’s first rapid blood alcohol
detoxification product, Safety Shot is created by a doctor,
patented, and validated by initial research. Safety Shot lowers
blood alcohol content by up to 50% in just 30 minutes.
Safety Shot creates a new product category for
rapid alcohol detoxification in the fast-growing hangover remedy
market, valued at $1.56 billion in 2020 and projected to grow at a
CAGR of 14.6% through 2028.
“We couldn’t be more excited about closing this
acquisition as our company is now positioned to launch a
first-of-its kind wellness product that we believe will huge
implications and benefits on wellness and safety around alcohol
consumption,” stated Jupiter Wellness CEO Brian John “With key
members of the Safety Shot team now on our team, a successful
launch of this critical product is well underway. While we continue
to execute on our portfolio of other health and wellness products,
Safety Shot is the Company’s primary focus going forward. We see
this is a tremendous win for Jupiter shareholders.”
About Jupiter WellnessJupiter
Wellness is a diversified company that supports health and wellness
by researching and developing over-the-counter (OTC) products and
intellectual property. The Company's product pipeline addresses a
range of conditions, including hair loss, psoriasis, and vitiligo.
Revenue is generated through the sales of OTC and consumer products
and licensing royalties.
Interested investors and shareholders are
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Forward Looking Statements
This communication contains forward-looking
statements regarding Jupiter Wellness, including, the anticipated
timing of studies and the results and benefits thereof. You can
generally identify forward-looking statements by the use of
forward-looking terminology such as “anticipate,” “believe,”
“continue,” “could,” “estimate,” “expect,” “explore,” “evaluate,”
“intend,” “may,” “might,” “plan,” “potential,” “predict,”
“project,” “seek,” “should,” or “will,” or the negative thereof or
other variations thereon or comparable terminology. These
forward-looking statements are based on each of the Company’s
current plans, objectives, estimates, expectations, and intentions
and inherently involve significant risks and uncertainties, many of
which are beyond Jupiter Wellness’ control. Actual results and the
timing of events could differ materially from those anticipated in
such forward-looking statements as a result of these risks and
uncertainties and other risks and uncertainties affecting Jupiter
Wellness and, including those described from time to time under the
caption “Risk Factors” and elsewhere in Jupiter Wellness’
Securities and Exchange Commission (SEC) filings and reports,
including Jupiter Wellness’ Annual Report on Form 10-K for the year
ended December 31, 2023 and future filings and reports by Jupiter
Wellness. Moreover, other risks and uncertainties of which the
combined company is not currently aware may also affect each of the
companies’ forward-looking statements and may cause actual results
and the timing of events to differ materially from those
anticipated. Investors are cautioned that forward-looking
statements are not guarantees of future performance. The
forward-looking statements made in this communication are made only
as of the date hereof or as of the dates indicated in the
forward-looking statements and reflect the views stated therein
with respect to future events at such dates, even if they are
subsequently made available by Jupiter Wellness on its website or
otherwise. Jupiter Wellness undertakes no obligation to update or
supplement any forward-looking statements to reflect actual
results, new information, future events, changes in its
expectations or other circumstances that exist after the date as of
which the forward-looking statements were made.
Jupiter Wellness Media
Contact: Phone:
561-244-7100Email: info@JupiterWellness.com
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