TULSA, OK, Jan 14, 2020 (GLOBE NEWSWIRE) – via NEWMEDIAWIRE – Limitless Venture Group, Inc. (PINK OTC: LVGI) Enters $ 9.7 Billion Keto Market, Expected To Reach Over $ 15.6 billion by 2027, through an acquisition of the controlling stake in KetoSports, Inc. (KSI) (http://ketosports.com). KetoSports is âTHE PIONEERâ of the ketones market segment and the FIRST company to introduce exogenous ketones to the US market, with its KetoForce product in 2012. KSI sells a full line of simple to mix supplements that flush the body with ketones. to induce acute ketosis within minutes. KSI products were designed by renowned organic chemist, Patrick Arnold. Mr. Arnold leads the KSI research team to focus on the development of ketogenic products for a healthy lifestyle as well as weight loss and increased athletic performance. Over the past 4 years, the KSI team has grown the company to around $ 1.3 million in annual sales for 2019, through a host of channels that include GNC, Dick’s Sporting Goods, TJX / Homegoods and WalMart.com . LVGI and KSI have been in talks for approximately 90 days and reached an agreement through a fully executed terms sheet dated 12/27/19. The acquisition will be finalized when LVGI has the required capital, raised through its currently filed Reg A offer, to which we have just received our first round of comments and are in the process of responding.
âWe are extremely excited to enter this multi-billion dollar market with KetoSports, Inc. as a partner. KetoSports, Inc. is led by a leading team including leader in ketone research, Patrick Arnold. A major contribution to ketogenic research for Dr. Arnold was the creation of a new ketone diester, which has been shown to dramatically reduce inflammation in mice and has great potential to help those suffering from cancer and epilepsy. Through his research on ketones, Mr. Arnold has developed safe and effective weight loss and athletic performance products, such as ketone salts, which can be found in the Ketosports product line. (For more information please read: https://www.theatlantic.com/health/archive/2019/11/patrick-arnold-ketones-baseball-balco/601399/)
âThis corporate dream team at KetoSports, Inc. will also be a tremendous compliment to our other subsidiaries, especially Boobeary, as the markets and sales channels have great synergy. KetoSports will also have immediate access to our Boobeary CBD lab, which will allow us to create a full line of keto / CBD products in the near future. This acquisition should be the basis for the continued growth of LVGI, âsaid Joseph Francella, CEO of LVGI.
About KetoSports, Inc.
The KetoSports mission began in 2012 when it launched the first ketone product, KetoForce, in the US market. Since then, KetoSports and the keto market have grown tremendously. But KetoSports hasn’t lost sight of why and how it started. KetoSports grew out of the need to help people who might benefit from ketones therapeutically, but soon realized the many benefits these products offer, even to the average Joe or Jane who chose to diet, to be active or to be more aware of their general well-being. For these reasons, KetoSports has quickly grown from a single breakthrough product to a full line of products that support diet, active lifestyle, and therapeutic use through superior science. With a focus on markets outside of the keto diet alone, KetoSports has seen applications for these products abound, making KetoSports synonymous with effective energy and health supplementation, not just dietary support.
âWe are very excited about our partnership with LVGI and its associated brands. This partnership will create a union ready to fully develop in the Keto market, shorten the development time for new product offerings, and leverage existing sales channels. We can’t wait to re-emerge KetoSports as a market leader and multi-million dollar organization, âsaid Savitri Boodram Jones, CEO of KetoSports.
About BooBeary products:
BooBeary Products is a premium brand of CBD products created by former footballer Edward “Boo” Williams in conjunction with Gamma Pharmaceuticals, a CGMP facility registered with the FDA. CGMP refers to the current Good Manufacturing Practices regulations enforced by the FDA, which provide for systems to ensure proper design, monitoring and control of manufacturing processes and facilities. Compliance with CGMP regulations ensures the identity, strength, quality and purity of pharmaceutical products by requiring that drug manufacturers adequately control manufacturing operations. This includes establishing strong quality management systems, obtaining all the appropriate natural and organic materials, establishing robust operating procedures, detecting and investigating product quality deviations, and maintaining reliable testing laboratories. This formal system of controls ensures that Boobeary hemp products meet strict standards of quality and consistency with tracking from seed to sale.
About future acquisitions
LVGI has determined that the fastest way to create value for the company and shareholders is to acquire existing income-generating businesses. KetoSports is the first of these acquisitions and LVGI is now actively seeking small businesses, with revenues of $ 1 million or more, to fully acquire, majority, or form a joint venture with. This will give LVGI immediate revenue and profit, cash flow to help finance buildings and equipment, and a solid foundation for future expansions. LVGI anticipates such a business combination on a quarterly basis from the first quarter of 2020.
About Limitless Venture Group, Inc.
Limitless Venture Group Inc. (LVGI) has recognized the formidable future of emerging markets created by the recent passage of the Federal Farm Bill which legalized industrial hemp and hemp-derived products. To capitalize on this trend, LVGI has started to focus its attention on innovative healthcare and science sectors and will implement this strategy through its wholly owned subsidiary Summit Harbor Holdings (SHHI). SHHI strives to be the premier thought leader in the innovative healthcare and science industry while delivering value to LVGI shareholders. Additional information can be found on our websites, www.lvginc.com and www.summitharbor.com or follow us on Twitter @lvginc_ and @shhinc.
This press release contains forward-looking statements within the meaning of the Private Forward-Looking Statements: Securities Litigation Reform Act of 1995. Statements in this press release that are not historical facts, including, without limitation, statements that follow. relate to the Company’s expectations with respect to the future impact on the Company’s results of new products under development, may be considered forward-looking statements. Words such as “expects”, “intends to”, “plans”, “could”, “could”, “should”, “anticipates”, “likely”, “believes” and words of Similar significance also identify forward-looking statements. These statements are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyzes and other information based on forecasts of future results, estimates of amounts not yet determined and management’s assumptions. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of their publication. Except as required by applicable law, we assume no obligation to update any forward-looking statements to reflect any event or circumstance that may arise after the date of this release.