Synergy CHC Corp creates deeper Partnership with Knight Therapeutics
January 04 2017 - 9:00AM
Marketwired
Synergy CHC Corp creates deeper Partnership with Knight
Therapeutics
WESTBROOK, ME-(Marketwired - Jan 4, 2017) - Synergy CHC Corp
("Synergy") (OTCQB: SNYR) and Knight Therapeutics Inc. (TSX: GUD)
announced as of December 23rd that, ("Knight"), through one of its
wholly-owned subsidiaries has committed to invest up to US $2
million as a lead order toward the purchase of common shares of
Synergy CHC Corp ("Synergy") (OTCQB: SNYR) conditional on Synergy
meeting certain fundraising targets in 2017.
In addition, Knight entered into an agreement with Synergy to
swap its share purchase warrants and stock options of Synergy,
which entitled Knight to purchase up to 9.1 million shares of
Synergy at exercise prices ranging from US $0.25 to US $0.49 per
share, in exchange for 7.5 million common shares of Synergy valued
at US $2.9 million based on Synergy's December 23, 2016 closing
price of US $0.39 per share. Knight originally received the share
purchase warrants and stock options in connection with its secured
loans to Synergy issued in 2015. Following the exchange, Knight
owns 17.6 million or 19.9% of Synergy's common shares
outstanding.
Separately, with respect to FOCUSfactor® and Hand MD™, Knight
appointed Synergy as its exclusive third party direct channel
distributor in Canada, Israel, Romania, Russia and sub-Saharan
Africa; and as its exclusive third party retail channel distributor
in Canada. Additionally, Knight amended its direct channel
distribution agreement with Synergy for Flat Tummy Tea in Canada.
The initial term of these agreements ends on February 15, 2021.
"While we missed the Christmukkah rush, we are confident that
our continued partnership with Synergy will bring joy to both our
company's respective shareholders," said Jonathan Ross Goodman, CEO
of Knight.
"We are very pleased to have licensed the right's of our brands
back in the knight territories and also further deepen our
incredible partnership with Knight. We are very blessed to have
Knight as our partner" said Jack Ross, CEO of Synergy CHC.
About Knight Therapeutics Inc. Knight Therapeutics Inc.,
headquartered in Montreal, Canada, is a specialty pharmaceutical
company focused on acquiring or in-licensing innovative
pharmaceutical products for the Canadian and select international
markets. Knight Therapeutics Inc.'s shares trade on TSX under the
symbol GUD. For more information about Knight Therapeutics Inc.,
please visit the company's web site at www.gud-knight.com or
www.sedar.com.
About Synergy CHC Corp. Synergy CHC Corp. is a consumer health
care company that is in the process of building a portfolio of
best-in-class consumer product brands. Synergy's strategy is to
grow its portfolio both organically and by further acquisition.
Synergy's diversified portfolio now includes FOCUSFactor™, Flat
Tummy Tea™, Neuragen™, and Hand MD™ . For more information, please
visit www.synergychc.com.
About FOCUSfactor® "Another Synergy Brand" FOCUSfactor is sold
at America's leading retailers such as Costco, Sam's Club,
Wal-Mart, BJ's Walgreens, CVS and The Vitamin Shoppe. FOCUSfactor,
America's leading brain health supplement, is a nutritional
supplement that includes a proprietary blend of brain supporting
vitamins, minerals, antioxidants and other nutrients. In December
2012, the United States Patent and Trademark Office issued US
Patent 8,329,227 covering FOCUSfactor's proprietary formulation
"for enhanced mental function." The issuance of the patent marked
one of the few times a patent has been issued for a nationally
branded nutritional supplement. FOCUSfactor is clinically tested
with results demonstrating improvements in focus, concentration and
memory in healthy adults. www.focusfactor.com
About Flat Tummy Tea® "Another Synergy Brand" Flat Tummy Tea's
uniquely formulated two-step herbal detox tea works to naturally
help speed metabolism, boost energy and reduce bloating to flatten
your tummy. It's currently sold exclusively online to a global,
20-30 year old female, predominantly American market.
Since being founded in 2013, Flat Tummy Tea has grown rapidly,
largely attributed to the strength of their branding and their
innovative and effective use of social media. Their secret is a
very specific process and ROI based algorithm used on various
online platforms. To date, Flat Tummy Tea has built a targeted
social media following of over 1,100,000, many of whom are now
customers.
Flat Tummy Tea now has over 13,000 positive written reviews on
their website, flattummytea.com or visit their Instagram page.
About Neuragen® "Another Synergy Brand" Neuragen® is a topical
product that works directly at the site of the pain as opposed to
oral products. Neuragen® reduces the spontaneous firing of damaged
peripheral nerves. By calming these firings at the source,
Neuragen® is clinically shown to reduce shooting and burning pains
quickly and without the side effects of orally taken medications.
This is in part due to the small lipophilic molecules found in
Neuragen® which rapidly carry the active ingredients through the
rough outer layer of the skin to the site of the pain. Neuragen® is
available over the counter in most local pharmacies either in the
diabetic section or the analgesic (pain) section. For more
information, please visit www.neuragen.com.
About Hand MD® "Another Synergy Brand" Hand MD is the world's
first anti-aging skincare line formulated specifically for the
hands. Hands reveal a woman's true age and the rejuvenation of the
hand has become women's #1 aging concern. Developed by Kara
Harshbarger and renowned celebrity dermatologist Dr. Alex Khadavi,
Hand MD's extensive clinical trials show significant improvement in
the appearance of fine lines and wrinkles, skin hydration,
hyper-pigmentation and radiance. HAND MD launched on QVC and sold
out in an astonishing 5 minutes. www.hand-md.com
Forward-Looking Statements This press release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995 that are subject to risks
and uncertainties. All statements, other than statements of
historical facts, regarding management's expectations, beliefs,
goals, plans or Synergy's prospects should be considered
forward-looking. Readers are cautioned that actual results may
differ materially from projections or estimates due to a variety of
important factors, including: Synergy's ability to integrate any
new products into its current operations; the risks and
uncertainties associated with Synergy's ability to manage its cash
resources; obtaining additional financing to support Synergy's
operations; Synergy's dependence on third parties for its research
and development, manufacturing and distribution functions;
Synergy's dependence on its license relationships; protecting the
intellectual property developed by or licensed to Synergy; and
Synergy's ability to build its operations to support its business
strategy and promote its products. These and other risks are
described in greater detail in Synergy's filings with the SEC,
copies of which are available free of charge at the SEC's website
(www.sec.gov) or upon request from Synergy. Synergy may not
actually achieve the goals or plans described in its
forward-looking statements, and investors should not place undue
reliance on these statements. Synergy assumes no obligation and
does not intend to update these forward-looking statements, except
as required by law.
Contact Information: Jack Ross Chairman / CEO Synergy CHC Corp
Jack@synergychc.com 615-939-9004
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