Pressure BioSciences, Inc. (OTC:PBIO), a company focused on pressure-based instruments and services for the cannabis industry, has announced a definitive agreement to acquire Uncle Bud's, a natural health and wellness leader. The transaction, which marks a strategic forward integration for PBIO, combines Uncle Bud's extensive product range and strong online community with PBIO's advanced technology and scientific expertise.
The merger will create a formidable presence in various consumer product markets, notably leveraging PBIO's UltraShear technology. This platform is known for producing nanoemulsified products with superior bioavailability and speed of action, a critical factor in the health and wellness domain.
Toni Braxton, a multiple Grammy Award-winning artist and a long-standing advocate of Uncle Bud's, expressed her enthusiasm for the acquisition. "I am thrilled to be a part of this exciting acquisition of Uncle Bud's, a brand that I have loved from the beginning," said Braxton. She highlighted the shared vision of quality and innovation between the two companies and her eagerness to be part of their growth trajectory.
Garrett Greller, director of marketing and co-founder of Uncle Bud's emphasized the transformative nature of the acquisition. "With a commitment to quality, effective solutions, and an impressive lineup of celebrity partners, Uncle Bud's has democratized Hemp & CBD wellness," Greller stated. He further noted the potential for innovation across multiple sectors, including pain relief, sexual wellness, skincare, beverages, food and pet care.
Bruno Schiavi, president and co-founder of Uncle Bud's remarked on the synergy between the two companies. "This merger with PBIO is a game-changer," Schiavi said. He underscored the unique opportunities presented by the UltraShear platform in developing wellness products with superior bioavailability and clean-label attributes.
From PBIO's perspective, Ric Schumacher, president and CEO, welcomed the expertise and experience of Uncle Bud's team. "This dynamic combination is what we have been seeking to accelerate the penetration of the UltraShear technology through multiple markets," Schumacher said. He pointed to several new product line opportunities ripe for transformative delivery.
Jeff Peterson, PBIO's chairman stressed the strategic significance of the merger. "The integration of Uncle Bud's into PBIO's financials is expected to be immediately accretive and a major accelerator to PBIO's top-line revenue growth," Peterson added. He also expressed optimism about the combined companies' ability to attract new investment, strengthen their balance sheet, and potentially uplist to major stock exchanges like NASDAQ or NYSE ahead of schedule in 2024.
Under the terms of the agreement, Uncle Bud's stockholders will receive preferred stock of PBIO, convertible into PBIO common stock with additional shares contingent on revenue and net profit targets in 2024. The Boards of Directors of both companies have unanimously approved the transaction, with closure expected by January 19, 2024, subject to customary closing conditions.
