BitFrontier Capital Holdings, Inc. (OTC: BFCH), operating as EVERMIND Holdings, Inc., has taken a significant step forward by signing a binding Letter of Intent (LOI) to acquire ERApeutics, LLC, the developer behind the EVERMIND™ beverage platform. This acquisition is poised to enhance BFCH's portfolio with a science-supported, cognitive health-focused beverage that is ready for commercialization, reinforcing the company's position in the wellness and performance sectors.
The transaction, valued at $4,000,000, involves the issuance of 400,000,000 restricted common shares at a fixed price of $0.01 per share. This move not only signifies BFCH's commitment to expanding its cognitive health platform but also aligns with its strategy to strengthen its balance sheet and meet the benchmarks for an OTCQB uplisting. The EVERMIND™ platform includes six proprietary formulations, an R&D pipeline, and a fully integrated e-commerce stack, positioning BFCH to capitalize on the growing demand for functional beverages.
Dr. Jordan Balencic, CEO of BFCH, emphasized the strategic importance of this acquisition, stating, EVERMIND™ is not just a beverage asset but a platform designed to scale and anchor the company's broader wellness ecosystem. With over $1.1 million in development-stage assets and a pipeline of complementary products, EVERMIND™ represents a significant opportunity for BFCH to tap into the lucrative functional beverage market.
The functional beverage sector has seen notable investments, such as Keurig Dr Pepper's $300M valuation investment in Poppi and Coca-Cola's majority stake in Health-Ade, highlighting the industry's potential. BFCH's acquisition of EVERMIND™ positions the company to participate in this trend, offering a unique, brain-first product that addresses mental clarity, mood, and cognitive performance.
Expected to close within 60 to 90 days, subject to due diligence, this acquisition marks a pivotal moment for BFCH as it transitions from a legacy status to a growth-oriented platform. With a strengthened balance sheet and a clear strategy for institutional engagement, BFCH is setting the stage for future success in the cognitive health and wellness industry.
