NEW YORK, Sept. 4, 2014 /PRNewswire/ -- Twinlab
Consolidated Holdings, Inc. (OTC: TLCC) and Twinlab Consolidation
Corporation ("TCC") announced today that they have entered into an
agreement to merge in a stock-for-stock transaction with an
anticipated closing date of September
15, 2014.
Following the merger, TLCC's business will be directed to the
operations of TCC and its subsidiaries. CEOs of both entities are
enthusiastic about the merger, which will position TCC for growth
and provide expanded opportunities for acquisitions.
CEO of TCC, Tom Tolworthy
remarks, "We are thrilled to enter into this merger with Twinlab
Consolidated Holdings, Inc. This partnership will help support our
long-term vision of TCC. There is an extraordinary opportunity in
the health and wellness space and this partnership supports the
creation of a business that is focused on the needs of the
end-consumer with an eye on emerging trends and market direction
that informs our future."
"We are really excited about working with TCC and creating a
unified company that will support its future success" says
Luz Vasquez, CEO of Twinlab
Consolidated Holdings, Inc.
The respective boards of directors of TLCC and TCC have each
approved the Merger Agreement and the transactions contemplated
thereunder. The Merger Agreement remains subject to the approval of
the stockholders of TCC. The closing of such transactions and the
effectiveness of the Merger is anticipated to occur on or about
September 15, 2014. However,
there can be no assurances that the transactions contemplated under
the Merger Agreement will be consummated, as the Merger Agreement
may be terminated pursuant to the provisions thereof.
About Twinlab Consolidation
Corporation
Twinlab Consolidation Corporation is an
industry-focused health and wellness company committed to
developing top brands. An employee-owned company, TCC aligns the
interest of all stakeholders and has a portfolio of products that
are made in America using the finest ingredients from around the
world. In addition to its namesake brand, Twinlab®, established in
1968, TCC also manufactures and sells other well-known category
leaders including the Metabolife® line of diet and energy products;
Fuel line of sports supplement products; Alvita® teas, established
in 1922 as a single-herb tea line; Trigosamine® joint support
products as well other health and wellness brands. Twinlab's
manufacturing facility in American Fork,
Utah is an NSF GMP and NSF GMP for Sport certified facility.
Visit www.twinlab.com for more information.
About Twinlab Consolidated Holdings,
Inc.
Twinlab Consolidated Holdings, Inc., a development
stage company, intends to design and develop a mobile beauty
shopping tool application that offers beauty product reviews,
location based coupons, and platform for interaction with social
networks specific to the products for Apple and Android platforms.
The company was formerly known as Mirror Me, Inc. and changed its
name to Twinlab Consolidated Holdings, Inc. in August 2014. Twinlab Consolidated Holdings, Inc.
was founded in 2013 and is based in San
Diego, California.
Forward-Looking Statement: The statements in this press release,
such as "creating a unified company that will support its future
success," and "there is an extraordinary opportunity in the health
and wellness space", and any implied or perceived benefits from the
Merger between TLCC and TCC, and any other effects resulting from
any of the above, are forward-looking statements. Such statements
involve risks and uncertainties, including, but not limited to, our
ability to complete closing conditions to the merger, and any other
difficulties related to risks and effects of legal and
administrative proceedings and governmental regulation, future
financial and operational results, competition, general economic
conditions, and the ability to manage and continue our growth.
Should one or more of these risks or uncertainties materialize,
or should underlying assumptions prove incorrect, actual outcomes
may vary materially from those indicated. Important factors that
could cause actual results to differ materially from the
forward-looking statements we make in this news release include
market conditions and those set forth in reports or documents we
file from time to time with the SEC. We undertake no obligation to
revise or update such statements to reflect current events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
SOURCE Twinlab Consolidation Corporation
