Xcelerate,
Inc. Signs Definitive
Memorandum of Understanding with
HS Pharmaceuticals,
LLC
Mauldin, SC -- August 26,
2021 -- InvestorsHub NewsWire -- Xcelerate,
Inc.
(OTC pink
sheets: "XCRT")
today announced that it has signed a
Definitive Memorandum of Understanding with
HS Pharmaceuticals, LLC of Greenville, SC
defining the
terms under which Xcelerate, Inc. will acquire 100% of the membership
interests in HS Pharmaceuticals, LLC as well as a 51% interest in
HS Cosmetics, Inc.
The DMOU calls for the drafting and
signing of an Acquisition Agreement with a pre-determined
valuation of HS Pharmaceuticals as well as the raising of
capital
sufficient to progress the development of HS Pharmaceuticals
IP and to fulfill the expansion of the current HS
Cosmetics
marketing
plan
launched in April of 2021.
"Since the announcement of a letter of
intent with HS Pharmaceuticals
in
May,
the teams
at Xcelerate and HS have been working to define the terms that
have resulted in this DMOU
and
were
able to
agreement with the assistance of our
advisors at Network1 Financial
who
will be working
with us going forward in our capital raising
efforts"
said Michael O'Shea, Xcelerate CEO."
"Xcelerate remains focused on joining
early-stage medical technology companies in a
setting of controlled clinical care
where these new developments can be trialed, tested and
applied," said
O'Shea.
For more
information, please visit
www.xcelerate.global.
Media contact: Justin
Baronoff 561-702-4999;
justin@transmediagroup.com.
SAFE HARBOR
This press
release may contain forward-looking information within the meaning
of Section 21E of the Securities Exchange Act of 1934, as amended
(the "Exchange Act"), including all statements that are not
statements of historical fact regarding the intent, belief or
current expectations of the Company, its directors or its officers
with respect to, among other things: (i) the Company's financing
plans; (ii) trends affecting the Company's financial condition or
results of operations; (iii) the Company's growth strategy and
operating strategy; and (iv) the declaration and payment of
dividends. The words "may," "would," "will," "expect," "estimate,"
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variations thereof are intended to identify forward-looking
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risks and uncertainties, many of which are beyond the Company's
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