World News: 14:55 GMT Tuesday 14th January 2020. [Limitless Venture Group Inc. via Globe Newswire via SPi World News]
TULSA, OK, Jan. 14, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Limitless Venture Group, Inc. (PINK OTC: LVGI) is entering the 9.7 Billion Dollar Keto market, which is expected to grow to over 15.6 Billion by 2027, through an acquisition of the majority ownership in KetoSports, Inc. (KSI) (. KetoSports is “THE PIONEER” of the ketone market segment and the FIRST company to bring exogenous ketones to the US marketplace, with their KetoForce product in 2012. KSI sells a full line of simple, stir-in, supplements that flushes the body with ketones to induce acute ketosis within minutes. KSI products were designed by the renowned organic chemist, Patrick Arnold. Mr. Arnold is leading the research team at KSI to focus on developing 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 approximately $1.3M in annual sales for 2019, via a host of channels that include GNC, Dick’s Sporting Goods, TJX/Homegoods and WalMart.com. LVGI and KSI have been in discussions for about 90 days and have reached an agreement through a fully-executed Term Sheet dated 12/27/19. The acquisition will close when LVGI has the required capital, raised through its currently filed Reg A offering, of which we have just received our first set of comments and are in the process of answering.
“We are extremely excited to be entering this multi-billion dollar market with KetoSports, Inc. as our partner. KetoSports, Inc. is headed by a top-notch team including a leader in ketone research, Patrick Arnold. A major contribution to Ketogenic research for Mr. Arnold was that he created a new ketone diester, which has been shown to significantly reduce inflammation in mice and has great potential to help people suffering from cancer and epilepsy. Through his ketone research, Mr. Arnold has developed safe and effective weight-loss and athletic-performance products like ketone salts which can be found in the Ketosports line of products. (For more information please Read: )
“This corporate dream-team at KetoSports, Inc., will be a tremendous compliment to our other subsidiaries as well, especially for Boobeary, as the markets and sales channels have great synergy. KetoSports will also gain 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,” stated Joseph Francella, CEO of LVGI.
About KetoSports, Inc.
The KetoSports mission started in 2012 when it released the first ketone product, KetoForce, to the US marketplace. 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 could therapeutically benefit from ketones, but soon realized how many benefits these products provide to even the Average Joe or Jane who has chosen to diet, be active or be more conscious about their overall wellbeing. For those reasons KetoSports quickly grew 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 of these products abound, making KetoSports synonymous with effective energy and health supplementation, not just diet support.
“We are very excited about our partnership with LVGI and its related brands. This partnership will create a union poised to fully develop in the Keto marketplace, shorten the time to development of new product offerings and leverage existing sales channels. We look forward to re-emerging KetoSports as a market leader and multi-million dollar organization,” explained Savitri Boodram Jones, CEO of KetoSports.
About BooBeary Products:
BooBeary Products are a premium brand of CBD products created by ex-football player Edward ”Boo” Williams in conjunction with Gamma Pharmaceuticals, CGMP facility that is registered with the FDA. CGMP refers to the Current Good Manufacturing Practice regulations enforced by the FDA which provides for systems that assure proper design, monitoring, and control of manufacturing processes and facilities. Adherence to the CGMP regulations assures the identity, strength, quality, and purity of drug products by requiring that manufacturers of medications adequately control manufacturing operations. This includes establishing strong quality management systems, obtaining appropriate all natural and organic materials, establishing robust operating procedures, detecting and investigating product quality deviations, and maintaining reliable testing laboratories. This formal system of controls assures that Boobeary hemp products meet strict quality and consistency standards with Seed to Sale tracking.
About Future Acquisitions
LVGI has determined the quickest way to create Company and shareholder value is through acquisitions of existing, revenue generating, companies. KetoSports is the first of such acquisitions and LVGI is now actively searching for small Companies, with revenues of 1 Million Dollars or more, to either acquire in whole, a majority of or create a Joint Venture with. This will give LVGI immediate revenues and profits, a cash-flow stream to assist with financing of buildings and equipment, and a solid base for future expansions. LVGI is planning one such business combination per quarter beginning in the first quarter of 2020.
About Limitless Venture Group, Inc.
Limitless Venture Group Inc. (LVGI) has recognized the tremendous future in the emerging markets created through the recent passage of the Federal Farm Bill which legalized industrial hemp and hemp derived products. To capitalize on this trend, LVGI has begun to focus its attention within the innovative health and science sectors and will execute this strategy through its wholly owned subsidiary Summit Harbor Holdings (SHHI). SHHI strives to be the premier thought leader in the innovative health and sciences sector while providing value to LVGI shareholders. Additional information can be found on our websites, and or follow us on Twitter @lvginc_ and @shhinc.
This release contains forward-looking statements within the meaning of the Private Forward-Looking Statements: Securities Litigation Reform Act of 1995. Statements contained in this release that are not historical facts, including, without limitation, statements that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development, may be deemed to be forward-looking statements. Words such as "expects", "intends", "plans", "may", "could", "should", "anticipates", "likely", "believes" and words of similar import also identify forward-looking statements. These statements are subject to risks and uncertainties. Forward-looking statements are based on current facts and analysis and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Readers are urged not to place undue reliance on the forward-looking statements, which speak only as of the date of the release. Except as may be required under applicable law, we assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.
Globe Newswire: 14:55 GMT Tuesday 14th January 2020
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