CYIOS CORP. TO ACQUIRE PRIVATELY HELD SPECIALTY HEALTH AND WELLNESS COMPANY CHOICEWELLNESS, INC. AND DR's CHOICE BRAND OF PRODUCTS
LAS VEGAS, April 13, 2020 (Newswire.com) - CYIOS Corp (OTC:CYIO), a strategic advisory company focused on the future of FinTech, Health and Medical Services, Crypto, Blockchain and AI, today announced it has executed a Letter of Intent to acquire 100% of the ownership of privately held ChoiceWellness, Inc. ("CW"). CW is a health and wellness Company that has developed a specialty line of CBD products including topicals and tinctures primarily distributed through Doctors' offices, medical practices and surgical centers. Upon closing, CYIO will own 100% of CW, in exchange for the issuance of preferred stock that will have the effect of giving the shareholders of CW a 20% equity interest in the Company. This transaction will not result in a change in control of the Company. The Company anticipates that the acquisition of CW will be completed this month.
Dr. Edward Pearson, Chief Medical Advisor- ChoiceWellness stated "The DR's CHOICE line of products were specifically designed with a particular target market in mind, that being the medical professional community. Our products have been sold exclusively in Doctors' offices, Chiropractor offices, surgical and orthopedic centers, where patients are generally seeking medical professional help from ailments caused by pain, inflammation, and/or other chronic like symptoms. Many patients are finding our products very helpful in achieving a normal lifestyle without daily aches and pains. In addition, our proprietary broad-spectrum CBD oil, in combination with enhanced levels of the cannabinoid CBG has received wonderful accolades from many users, praising its benefits which users say helps with anxiety, focus, pain issues, etc. The company is now in the process of expanding its product categories as well as opening up distribution for ChoiceWellness products to the general public through a new online store soon to be released. In evaluating multiple potential suitors interested in acquiring CW, we decided the transaction with CYIOS made the most sense. We believe the capital structure is attractive and their having none of the usual toxic lenders should provide us with a clear path to create shareholder value for all stakeholders."
David Greene, CEO-CYIOS, commented "We are thrilled to have picked up ChoiceWellness as a prior attempt to acquire the Company by another public company was canceled during the due diligence phase. We believe the capital structure of CYIOS is an appealing attribute and we look forward to working with the team of professionals from ChoiceWellness. The Company has developed a unique distribution channel by marketing health and wellness products directly with medical professionals which we believe we can scale and further expand their distribution. In addition, ChoiceWellness is working on a new product category, targeted at reducing the spread of viruses, such as the current pandemic. We have already begun designing a new website and online shopping experience for the current line of DR's CHOICE products as well as products in development. The new website is anticipated to go live shortly."
About ChoiceWellness, Inc.
ChoiceWellness, Inc. is a health and wellness company that has brought to market the DR's CHOICE line of products. DR's CHOICE was developed with a mission to offer Doctors and Medical Practitioners their own Professional Grade CBD BRAND with a suite of products they could stand behind and be confident to offer to their patients. Our customers can be assured that DR's CHOICE CBD products have gone through the highest scrutiny of testing for purity, potency and quality. DR's Choice products have been brought to market for Doctors and Medical Professionals seeking a better solution for patients suffering from pain, inflammation, anxiety or other persistent symptoms. For more information please visit www.choicewellnessbrands.com
About CYIOS Corporation
CYIOS Corporation is a strategic advisory company focused on the future of FinTech, Health Services, Medical Services, Cryptocurrency, Blockchain and AI (Artificial Intelligence). The team has in-depth knowledge of the financial services industry, medical and health services, and blockchain. CYIOS is focused on the development, distribution, and licensing of proprietary products as well as the evaluation of potential acquisition opportunities. Further, the Company continues to seek and evaluate attractive business opportunities and to leverage its resources and expertise to build a diversified, sustainable business model.
FORWARD-LOOKING STATEMENTS: This release contains "forward-looking statements." Forward-looking statements also may be included in other publicly available documents issued by the Company and in oral statements made by our officers and representatives from time to time. These forward-looking statements are intended to provide management's current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid. They can be identified by the use of words such as "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," should," "would," "could," "will" and other words of similar meaning in connection with a discussion of future operating or financial performance.
Examples of forward-looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance.
Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause the Company's actual results and financial condition to differ materially from those expressed or implied in the forward-looking statements. Such risks, uncertainties and other factors include, among others such as, but not limited to economic conditions, changes in the laws or regulations, demand for products and services of the company, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward-looking statements. Any forward-looking information provided in this release should be considered with these factors in mind. We assume no obligation to update any forward-looking statements contained in this report.
Media Contact: CEO and Director David Green
Source: CYIOS