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EX-99 - EXHIBIT 99.1 - New You, Inc.ex991.htm

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

Form 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): March 11, 2021

 

New You, Inc.

(Exact name of the registrant as specified in its charter)

 

Nevada

(State or other jurisdiction
of incorporation or organization)

000-52668
(Commission
File Number)

26-3062661
(IRS Employer

Identification Number)

 

6351 Yarrow Drive, Ste E, Carlsbad, California  92011

(Address of principle executive offices) (Zip code)

 

Registrant’s telephone number, including area code: 800-260-9062

 

3246 Grey Hawk Court, Carlsbad, CA 92010

(Former name or address if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.below):

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) 

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Section 8. – OTHER EVENTS

 

Item 8.01 Other Events.

 

On March 11, 2021, we entered into a Letter of Intent (the “LOI”) with ST Brands, Inc., a Wyoming corporation (“ST”). The LOI outlines the terms for a potential merger or share exchange agreement (the “Potential Acquisition”) under which we will acquire all of the issued and outstanding common stock of ST in exchange for our issuance, on a pro rata basis to the shareholders of ST, new shares of our preferred stock having the right to convert to the cumulative equivalent of ninety percent (90%) of our issued and outstanding share capital. The LOI contemplates that our existing business and assets will remain and continue under our ownership following the closing of the Potential Acquisition.

 

The Potential Acquisition is subject to various conditions and contingencies, including the satisfactory completion of due diligence by both parties and ST’s ability to furnish audited consolidated financial statements. The LOI is furnished herewith as Exhibit 99.1.

 

SECTION 9 – Financial Statements and Exhibits

 

Item 9.01 Financial Statements and Exhibits.

 

Exhibit No. Description
99.1 Letter of Intent with ST Brands, Inc.

 

SIGNATURES

  

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on behalf of the undersigned hereunto duly authorized.

   

New You, Inc.

 

Date: March 12, 2021  

By: /s/ Ray Grimm, Jr.

Ray Grimm, Jr.

Chief Executive Officer

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