Transaction will provide substantial high growth monetization and product diversification opportunities within the Consumer Products Group
The agreement further provides Limitless X a vehicle to gain exposure to the investment community
LOS ANGELES, May 12, 2022 /PRNewswire/ -- Limitless X Inc., ("the Company") a creative and empowering lifestyle agency that has launched industry-leading products in the dietary and CBD supplement sectors, announced today it has entered into a definitive share exchange agreement with Bio Lab Naturals, Inc., (OTC: BLAB) ("the Company") which operates in the mobile LED screen rental and sales industry
As part of the share exchange agreement, BLAB will issue 97 million shares to Limitless X shareholders at the close of the transaction. An additional 9 million shares will be issued to Limitless X shareholders pro-rata to their interests, which will result in those shareholders owning 90% of BLAB's outstanding shares six months post acquisition.
"We are excited about taking our company public through this vehicle and deliver what we believe will be incredible results to our shareholders," said Jas Mathur, CEO of Limitless X. "Our merger with Bio Labs will provide us the opportunity to gain exposure within the investment community which will be a critical resource for financing and implementing our strategic growth initiatives as we strive to build our brand and presence within the consumer products arena."
Upon completing the proposed acquisition with Bio Lab Naturals, the combined entity will continue to trade publicly under the BLAB ticker symbol. Following the close, an application will be submitted to FINRA to obtain a new symbol. Bio Lab Naturals will carry on its business and core operations, including Prime Time Live, Inc., a Denver, CO-based company that specializes in providing clients with high-resolution mobile LED screens for entertainment, corporate, civic and sporting events.
The Company expects the acquisition to close within the next 7 business days. However, closing of the acquisition is subject to usual terms and conditions and no assurance can be given that the parties will be able to complete the transaction.
Led by venture capitalist and social media personality Jas Mathur, Limitless X boasts an integrated direct-to-consumer model, memorable brands and superior products, and an ambassador network including A-list music stars, movie stars, athletes, and more. With this transaction, the Company anticipates expanding its global eco-system and continuing to provide unique product and service-oriented businesses within the Health & Wellness, Beauty & Skincare, and CBD industries.
About Jas Mathur
Jas Mathur is an investor and entrepreneur who has developed multiple brands in the marketing, health and wellness spaces generating tens to hundreds of millions of dollars in revenue each year. The digital marketing and branding firm he founded, Limitless, has launched numerous industry leading products in the dietary and CBD supplement sectors. He is a trendsetter with more than 7 million Instagram followers and frequently collaborates with leaders in the sports and entertainment industries.
Jas' passion is helping accelerate the achievement of people's health, wellness and business goals, inspired by his personal transformation story of losing over 250lbs in his twenties. Now a sought-after expert in developing fitness and training programs, he's helped many high-profile figures embark on their own health journeys and seeks to do the same for today's youth. Suitably, he recently partnered with Dr. Oz's nonprofit, Healthcorps, to jumpstart health and wellness programs targeted at teens and young adults.
As Jas transformed his life and body, he applied his newfound passion for health and wellness to launch Limitless. Prospective services he is blueprinting for the company include personality development, life coaching and educational platforms, in addition to the brand portfolio.
About Limitless X
Limitless X is a creative and empowering lifestyle agency specializing in the full spectrum of digital advertising and marketing. The Company has global eco-system with three verticals and a series of unique product and service-oriented businesses within each, focused on the Health & Wellness, Beauty & Skincare, and CBD Industry.
About Bio Lab Naturals, Inc
Bio Lab Naturals, Inc., through its subsidiary, Prime Time Live, Inc., provides LED screens to customers throughout the United States. Its high resolution multi-dimensional mobile LED screens are rented for major events as well as sold through a national distributor to customers who are looking to expand their marketing capabilities.
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