BitFrontier Capital Holdings, Inc. (OTC: BFCH), under its operating name EVERMIND Holdings, Inc., has taken a decisive step towards strengthening its position in the cognitive health and wellness industry by entering into a binding Letter of Intent (LOI) to acquire ERApeutics, LLC. The acquisition, valued at $4,000,000, will be executed through the issuance of 400,000,000 restricted common shares at $0.01 per share. This strategic move underscores BFCH's dedication to broadening its influence in a rapidly growing sector.
The EVERMIND™ beverage platform, developed by ERApeutics, LLC, stands out as a physician-formulated, plant-based protein shake aimed at enhancing brain health with both immediate and long-term benefits. Its unique selling points include shelf stability, scientific validation, and commercial readiness. The acquisition encompasses six proprietary nootropic and adaptogenic formulations, alongside an R&D pipeline, academic research, trademarks, and a fully integrated e-commerce platform accessible at https://thinkevermind.com.
Dr. Jordan Balencic, CEO of BFCH, highlighted the strategic importance of EVERMIND™, drawing parallels between its potential impact on cognitive health and the influence of Celsius in the metabolism domain. This acquisition is expected to enhance BFCH's financial health by incorporating intellectual property-backed assets, aligning with the company's broader strategy for an OTCQB uplisting. This development comes on the heels of BFCH's successful elimination of over $2 million in toxic convertible debt, reducing its total liabilities to under $94,000.
The functional beverage market is experiencing robust growth, with industry giants like Keurig Dr Pepper and Coca-Cola making significant investments, underscoring the sector's lucrative potential. EVERMIND™ positions BFCH to tap into this expanding market with its distinctive, brain-focused product offerings. The transaction is anticipated to conclude within 60 to 90 days, subject to due diligence and final agreement execution. Following the acquisition, EVERMIND™ will function as a wholly owned subsidiary of EVERMIND Labs, with possibilities for future spin-offs. For further insights into the acquisition and BFCH's strategic trajectory, interested parties can explore the pitch at https://evermindholdings.com/evermind-beverage/. This acquisition marks a pivotal shift for BFCH from a legacy entity to a dynamic, growth-focused platform in the wellness and performance industries.
