share_log

Forza Innovations Inc. Acquisition of Sustainable Origins

GlobeNewswire ·  Mar 3, 2022 09:07

SAN DIEGO, CA, March 03, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – Forza Innovations Inc.  (OTC Pink: FORZ) (the "Company") a health-tech wearable innovation company is pleased to announce the successful completion of the previously announced acquisition of Sustainable Origins. 

This notable acquisition is part of Forza Innovations' ongoing strategic plan for future revenue and expansion. From our newly appointed innovation lab in San Diego and growing team we are poised to make this acquisition of Sustainable Origins and optimize the company's current operations to quickly generate steady revenue streams which will help finance the production of our WarmUp products and other innovations that are in development.

"While our primary focus is the innovation and development of wearable health-tech products, our goal is to strategically acquire innovative business that will contribute to Forza Innovations' overall revenue stream," stated Johnny Forzani, President and CEO of Forza Innovations Inc.  

Forza Innovations Inc. has closed the purchase agreement of a combination of cash and stock to acquire Sustainable Origins, which will operate as a wholly-owned subsidiary of the Company. Assets held by Sustainable Origins are included as part of the purchase. 

Sustainable Origins provides a clean, sustainable, and eco-friendly future through the recycling of used cooking oil collected from restaurants, casinos, sporting arenas and food processing plants. Used Cooking Oil collected is ultimately sold to companies producing Biodiesel, an efficient replacement to dirty fossil fuels for a greener future. 

Aloysius Callaghan, Director of Sustainable Origins comments that, "We are excited to work with Forza and expand our business of collections and refinement of renewable fuel inputs. There are numerous partnerships and opportunities that will be executed in the near future that will solidify our foundation and will allow us to transition into other aspects of the renewable fuel space".

Johnny Forzani further stated, "I am excited to announce the first strategic acquisition under the Forza umbrella. Sustainable Origins is a Start-up company in the rapidly emerging Environmental, Social, and Governmental industry. Mr. Callaghan has already made tremendous strides during Sustainable Origins' first year of operations. With this acquisition, the Forza team is able to provide Sustainable Origins with the tools needed to continue building a sustainable, growing business. We are excited to work with this new and impressive company and expand together."

Further information about the acquisition can be found in the Form 8-K that the Company has filed with the SEC on March 3, 2022.

About Forza Innovations Inc.

The Company is in the health-tech wearable performance business.  The Company has acquired all of the ownership and the rights to certain late, developmental stage, WarmUp products.  WarmUp are cutting edge, innovative, wearable, back compression devices.  The therapeutic application of heat causes a change in temperature of the soft tissues which decreases joint stiffness and relieves inflammation. 

Please refer to the Company's website .

For further information please contact the Company at: info@forzainnovates.com  

On behalf of the Board,

Forza Innovations Inc. 

Johnny Forzani, President & Chief Executive Officer

Forward-Looking Statements

Some of the statements contained in this press release constitute forward-looking statements.  Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends, and similar expressions concerning matters that are not historical facts, such as statements regarding the closing of the exchange agreements and expected reduction in our total outstanding debt and annual interest payments.  In many cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "outlook," "potential" or the negative of these terms or other comparable terminology.  The forward-looking statements contained in this press release reflect our current views about future events and are subject to risks, uncertainties, assumptions, and changes in circumstances that may cause events or our actual activities or results to differ significantly from those expressed in any forward-looking statement.  Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future events, results, actions, activity levels, performance, or achievements.  Readers are cautioned not to place undue reliance on these forward-looking statements.  We discuss many of these risks in greater detail under the heading "Risk Factors" in the quarterly and annual reports filed with the Securities and Exchange Commission (SEC).  The forward-looking statements contained in this press release reflect our views and assumptions only as of the date of this press release. We undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events.


Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
    Write a comment