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TORONTO, Ontario - TheNewswire - May 7, 2020 - In a strategic move to greatly bolster its House of Brands Portfolio, Sire Bioscience Inc. has agreed to purchase 100% of the issued and outstanding common shares of Fusion Nutrition Incorporated.
Full details of the share purchase are available here. Pending Canadian Securities Exchange approval, SIRE will acquire $145,682 of Fusion Nutrition common shares at a value of $0.05 per share.
In an exclusive MarketRadio interview, Sire Bioscience CEO Brian Polla sits down with host Pat Beechinor;
The acquisition greatly enhances Sire Bioscience's speed to market in the nutraceutical space as SIRE leverages FUSION's experience, expertise and distribution. In fact, this agreement puts Sire product into 800 Canadian retail stores, plus FUSION's online distribution network.
The sports nutrition industry continues to boom as the core consumer base (bodybuilders and elite athletes) has broadened to include more casual participants (recreational athletes, fitness enthusiasts, and overall health and wellness seekers). According to research group Statista, the global sports nutrition market was valued at USD$50.84 billion in 2018 and is expected to reach USD$81.5 billion by 2023. With FUSION's insight into the category, SIRE believes it will be uniquely positioned to launch more relevant and highly customized products at a faster pace.
Sire Bioscience Marketing Director Adrian Burke says the announcement's timing could not be better, given current affairs and since most athletes can train with physical distancing;
"traditionally springtime is when Canadians climb out of their winter caves and start moving,...and with the training comes the usual aches and pains associated.. Now when athletes purchase their regular supplements, they can also purchase some muscle relief as well."
It will also position SIRE for cannabinoid infusion with the onset of Cannabis Health Product ("CHP") designation from Health Canada. SIRE will continue to look to expand into food, drug, and mass-market across North America with a best-in-class CBD-infused sports supplement line.
Sire Bioscience Inc. is headquartered in Mississauga, Ontario and has its wholly owned facility in Leamington, Ontario. The land parcel includes 50 acres of prime horticultural land, with a 160,000 sq. ft. facility of combined greenhouse and indoor space. It is publicly traded on the CSE, OTC and Frankfurt as (CSE:SIRE). (OTC:BLLXF) and (FSE:BR1B) respectively.
For further details, please contact Mr. Adrian Burke at 519-242-9556 or via email:
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