FORT LAUDERDALE, FL -- (Marketwired) -- 10/02/17 -- Armeau Brands Inc. ("Armeau" or the "Company") (OTC PINK: ARUU) is pleased to announce that the Company has entered into a Securities Exchange Agreement (the "Exchange Agreement") with the members of 271 Lake Davis Holdings, LLC, d/b/a SanSal ("SanSal"), pursuant to which SanSal has become a wholly-owned subsidiary of the Company. Founded in 2015, SanSal is a Colorado-based producer of superior quality whole plant broad spectrum phytocannabinoid hemp oils and extracts. SanSal currently operates a 140-acre farm and production facilities in Pueblo, Colorado, and is registered with the Colorado Department of Agriculture to grow industrial hemp pursuant to federal law.
Pursuant to the Exchange Agreement, Armeau acquired all the outstanding limited liability company interests of SanSal in exchange for the issuance to SanSal's members, pro rata, of 7,800,000 "restricted" shares of ARUU common stock, whereupon the holder of the Company's previously outstanding 7,500,000 shares of "restricted" common stock contributed those shares to the capital of the Company for cancellation. Following the SanSal acquisition, there are currently 9,750,000 shares of Company common stock issued and outstanding. The Company has no Preferred shares issued and outstanding.
In connection with consummation of the acquisition, Alexander M. Salgado and Erduis Sanabria, members of SanSal's management team, were appointed to the Company's board of directors and as the Company's Chief Executive Officer and Executive Vice President, respectively. Jaitegh Singh, Armeau's President, then stepped down from such office and as a director, but continues with the Company as Vice President and Secretary.
"We are very pleased to have completed the acquisition of SanSal, which is now a wholly-owned subsidiary of the Company," commented Mr. Singh. "We look forward to working with our new partners to support their current business and growth strategy."
About Armeau Brands
Armeau Brands Inc. (OTC PINK: ARUU) was incorporated in Nevada in March 2011 and since that time has focused its business efforts on seeking to produce and market its own brand of ice wine using Armenian-harvested grapes. Following, its completion of the SanSal acquisition, the Company now intends to focus its business efforts on SanSal's business of producing of superior quality, whole-plant. broad spectrum phytocannabinoid hemp oils and extracts. The Company has made application to FINRA for a name change to SanSal Wellness Holdings, Inc (and a corresponding change in its trading symbol) and implementation of a six for one forward stock split. The Company files periodic reports with the Securities and Exchange Commission, which can be viewed at www.sec.gov.
Cautionary Language Concerning Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including those with respect to the Company's mission statement and growth strategy, are "forward-looking statements." Although the Company's management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company's future results to differ materially from those anticipated. Potential risks and uncertainties include, among others, general economic conditions and conditions affecting the industries in which the Company operates; the uncertainty of regulatory requirements and approvals; and the ability to obtain necessary financing on acceptable terms or at all. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update any of the information contained or referenced in this press release.
Armeau Brands Inc. IR/Media Contact
Toll-Free: (888) 549-7888
E-mail: investors@sansalwellness.com
