(MENAFN- GlobeNewsWire - Nasdaq) StemSation International announced today the execution of a Letter of Intent outlining the terms for the Acquisition of the private marketing company, Gorilla Marketing Group, LLCPLANTATION, Fla., Oct. 21, 2024 (GLOBE NEWSWIRE) -- StemSation International (OTC: STSN), a South-Florida based company that has licensed technology for the production and distribution of flavored, canned oxygen products, is announcing the execution of a Letter of Intent that outlines the terms and milestone steps for the acquisition of 100% of the privately-held marketing company, Gorilla Marketing Group, LLC (GMG).
GMG is the owner and distributor of high-end vape products under the brand AlienHouse . The products include disposable vape cartridges in a range of flavors along with THC-P hemp derivatives. The company also markets their branded, 'Zombie-themed' apparel and marketing materials.
“We previously announced our new focus on seeking an acquisition in the consumer goods space with an emphasis on the impulse spaces by the cash registers of convenience stores,” stated Benjamin Silber, CEO of StemSation International.“This has led to the execution of a Letter of Intent to acquire 100% of Gorilla Marketing Group,” he continued.“This is an active company that is already growing in the market space that offers us the greatest potential for mid and long-term growth. We are working with the owners and management of GMG to create definitive documents and audited financials to complete the acquisition as quickly as possible. Once this first acquisition is completed, we will continue to seek additional companies and technologies to fuel consistent growth,” he concluded.
Upon completion of the acquisition, the management of GMG will join StemSation International. The executed Letter of Intent requires definitive agreements to be created along with audited financials to be provided by GMG. The company expects the acquisition to be completed by the end of the year.
“We are excited to be joining the StemSation family,” commented Mike Gaya, CEO of GMG.“It's an exciting time to be in the consumer goods space and in the THC-P vape market specifically. AlienHouse's marketing blends bold, imaginative visuals with clever storytelling that resonates with a wide audience. It's not just about selling a product; it's about selling a lifestyle-one that embodies the cutting-edge, adventurous spirit of the brand itself. AlienHouse has built a loyal customer base, and its continued innovation keeps the brand ahead of the curve. We have a unique foothold in this space and expect the market to grow substantially over the next few years,” he continued.“Merging into the public markets with StemSation will provide the potential for growth funding as well as enhanced valuation for our company. We also believe that we can bring a lot of value for the current StemSation stakeholders as we expand their portfolio of technologies,” he concluded.
According to newly released data from the National Association of Convenience Stores (NACS), convenience stores saw record sales in stores in 2023. Total convenience industry sales in 2023 were $859.8 billion, of which $327.6 billion were from in-store sales. The display space around the cashier is the most crucial area in the store to build incremental sales. There is a sales advantage at the register space because the customer has already committed to making a purchase. At this point, the store is leveraging impulse behaviors to increase incremental sales.
StemSation expects to have additional updates shortly as they fulfill on their current business plan.
About Gorilla Marketing Group (GMG)
GMG is the owner of the AlienHouse brand which is growing market share in the vape industry. AlienHouse delivers the highest standards in vape cartridges, where every product reflects the brand's commitment to excellence. The brand's success has been fueled by its creative and seductive marketing techniques, which have allowed AlienHouse to carve out a distinct identity in a competitive marketplace. These campaigns are meant to grab attention and create connections with GMG consumers, fueling loyalty, brand awareness and sales of branded merchandise.
About StemSation International
StemSation International, Inc. (OTC: STSN) is researching the developing, marketing and distribution of flavored, canned oxygen products. These products will be distributed in a lifestyle model to the beverage industry as well as colleges, restaurants and bars. The Company is also seeking acquisitions to complement their current products. StemSation is headquartered in Plantation, Florida.
SEC Disclaimer
This press release contains forward-looking statements. The words or phrases "would be," "will allow," "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in StemSation international's ("the Company") business plan. The execution of the Letter of Intent should not be construed as an indication in any way whatsoever of the future value of the Company's common stock or its financial value. The Company's filings may be accessed at the OTC Market's disclosures at Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company cautions readers not to place reliance on such statements. Unless otherwise required by applicable law, we do not undertake, and we specifically disclaim any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.