HAVN Life Sciences Inc C.HAVN

C.HAVN News - Aquisition of US company

[Cropwr1976]

By Shadd Dales On Feb 1, 2022 Havn Life Sciences (CNSX: HAVN) (OTCMKTS: HAVLF) CEO Tim Moore recently caught up with The Dales Report after a long absence from the podcast, with an update on the companys operations. Havn recently entered into a definitive agreement to acquire Spore Life Sciences, a revenue-generating wellness brand focused on functional mushroom formulations. It currently has a consumer base of more than 110,000 people, as well as 40,000 subscribers. Moore said the decision to acquire Spore Life Sciences was a long time in the making: Weve talked over the last two years about our desire to entire the U.S. market with our nutraceuticals or nutritional supplements, he said. The all-stock deal enables Havn to accelerate that plan and acquire a business thats already in revenue without having to spend millions of dollars in cash to build it. The CEO said the market for the total nutritional supplement industry is in the billions of dollars, while functional mushrooms are the fastest growing segment. Even with their volume, Spore did a total of $9 million, $5 million of which was done in the fourth quarter, said Moore, acknowledging that the company currently has a very small percentage of the market share. The nutritional supplement business will hopefully provide Havn with an opportunity to become cashflow positive within the next 12 months, according to the CEO, with help from its subscription based recurring revenue model.

[up2005]

This is a slow to market sector. The future is solid but the time line of ONE year is realistic. Have been in the deal for some time now, had thought we would be further down the road, BUT, their are some many barriers when developing new markets. Have a company that infuses THC into craft beers and coffee drinks. It is working hard to find market penetration in Ontario, BC, Alberta, NWT. It