Mangoceuticals Inc. (NASDAQ: MGRX) (“Mangoceuticals” or “MGRX”), a company focused on developing, marketing, and selling a variety of health and wellness products via a secure telemedicine platform under the brands MangoRx and PeachesRx, is pleased to announce that it has entered into an Intellectual Property Purchase Agreement to acquire all intellectual property, product formulations, know-how, distribution, supplier relationships and related assets of Smokeless Technology Corp. (“Smokeless Tech”), a Canadian-based pouch innovation company specializing in stimulant and functional pouches.
Mangoceuticals Inc. (NASDAQ: MGRX) (“Mangoceuticals” or “MGRX”), a company focused on developing, marketing, and selling a variety of health and wellness products via a secure telemedicine platform under the brands MangoRx and PeachesRx, is pleased to announce that it has entered into an Intellectual Property Purchase Agreement to acquire all intellectual property, product formulations, know-how, distribution, supplier relationships and related assets of Smokeless Technology Corp. (“Smokeless Tech”), a Canadian-based pouch innovation company specializing in stimulant and functional pouches.
“We expect this acquisition to unlock the next phase of growth for Mangoceuticals, as we believe to have fast-tracked a go-to-market roadmap aligned with what we expect to be one of the most disruptive categories in the market today”, said Jacob Cohen, Founder and CEO of Mangoceuticals, who continued, “For Mangoceuticals, this acquisition represents a rare opportunity to enter the high-growth nutraceutical pouch delivery space, while reaffirming the company’s mission to be an investor and developer of various health and wellness companies with executable business models and intellectual properties.”
In addition, as part of its concerted effort to unlock its next phase of growth, Mangoceuticals has added significant bench strength and professional pedigree to its management team by engaging Consumer Packaged Goods (CPG) veteran and expert, Tim Corkum. Mr. Corkum, who most recently held the position of President at JUUL Labs Canada, previously spearheaded smoke-free initiatives across multiple markets during his tenure with Philip Morris International.
Mangoceuticals intends to leverage Mr. Corkum’s seasoned expertise as an opportunity to both develop newly branded non-pharmaceutical and nutraceutical products as well as to integrate stimulant formulations with pharmaceutical ingredients intended to be sold under the MangoRx and PeachesRx brands.
With the addition of Mr. Corkum to the leadership team, we plan to seek to grow, relying on our immediate strategic synergies—leveraging Mangoceuticals’ established distribution network, compounding pharmacy relationships, and planned upcoming Diabetinol launch, using influencer campaigns and direct-to-consumer sales channels that are already in the process of being deployed. We expect this to position Mangoceuticals as a high-torque nutraceutical platform with multi-format delivery potential, and believe pouches represent the next logical expansion in a fully integrated commercial strategy.
Article published by Mangoceuticals
