NEWPORT BEACH, CA / ACCESSWIRE / May 1, 2024 / Galexxy Holdings Inc. ("Galexxy" or "Company") (OTC PINK:GXXY) funds Adaptin, a new company in the expanding $5.6 trillion-dollar global wellness market.
Galexxy Holdings, Inc. is pleased to announce the creation of a new company, Adaptin, LLC ("Adaptin"). The new company will provide enhanced opportunities in the rapidly growing functional mushroom and adaptogen market, valued at USD $32B globally in 2023, and expected to grow at a compound annual growth rate of 11.2% through 2030. In connection with the formation of Adaptin, the Company has made the strategic decision to dissolve Galexxy, LLC.
"We are thrilled to embark on this transformative journey along with Tyler and Elizabeth," said Michael Biagi, CEO of Galexxy. "We are fortunate to have their vision, along with over 45 years combined experience leading nutrition, personal care, and beauty companies, as we bring innovative products and new business models to market." Tyler Whitehead has been appointed CEO and Co-Founder and Elizabeth Thibaudeau has also joined Adaptin as a Co-Founder.
Adaptin's strategic approach will create new accessible categories of potent, clean, and safe adaptogens combined with powerful and transparent new omnichannel compensation plans to provide unparalleled opportunities for its community of health and wellness customers and brand creator advocates.
"We are excited to partner with Mick and the strength of the team at Galexxy to continue to innovate and bring new wellness solutions into the rapidly changing direct selling landscape," said Tyler Whitehead. He continued, "with an aligned shared vision for Adaptin, and I looking forward to bringing this business forward."
Galexxy Holdings, Inc. will maintain a 56.5% ownership stake in Adaptin LLC, underscoring our commitment to funding and supporting sustained success in this category. This new partnership will leverage the strengths of the new entity to drive innovation, enhance global market expansion potential, and demonstrate that we remain focused on bringing the highest quality products and sustained customer engagement across all our Galexxy holdings.
Galexxy is also announcing the retirement of Geza Molnar as CFO and Board Member, and Tyler will be appointed to the Galexxy Holdings Board of Directors.
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Contact:
Galexxy Holdings Inc.
Rachel Fyffe, VP Communications
E: Rachel@galexxyholdings.com
O: (949) 418-7450
Forward-Looking Information
This press release contains "forward-looking information" and "forward-looking statements" (collectively, "statements"). All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates, and projections as of the date of this press release.
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SOURCE: Galexxy Holdings Inc.
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