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Fortium’s expansion to capitalize on rapidly growing direct-to-consumer sporting goods industry
FAYETTEVILLE, Ark., January 26, 2022--(BUSINESS WIRE)--Fortium Holdings Corp. ("Fortium") (OTC: FRTM), today announced the formation of Norr LLC ("Norr"), a wholly-owned Fortium subsidiary, supporting Fortium’s initial entrance into the rapidly growing, direct-to-consumer segment of the broader sporting goods industry in the United States. The creation of Norr marks Fortium’s second expansion into new high-growth markets, following Fortium’s recent entrance into the cannabis industry via the formation of Elysian Premium Corp. ("Elysian") (see link to the Elysian press release here).
Norr, headquartered in New Jersey, will establish its footprint to specifically target youth sporting categories by employing a direct-to-consumer business model focused on providing high-quality, yet affordable products. Fortium believes it can benefit significantly from the continued migration of commerce away from traditional brick and mortar retail outlets, to on-line vendors, such as Amazon. Norr’s initial product line of skateboards is already available on its website for pre-order. Norr intends to further expand its product offering into a range of additional sporting good categories over time.
Norr has developed a marketing strategy for its products that will focus on developing various types of introductory and instructional content deployed via social media channels. This "how to" content is aimed at increasing awareness and sparking interest amongst various youth categories, encouraging young people to take up learning a new sport using Norr’s products and content.
"We are extremely excited to announce Fortium’s latest expansion with our entrance into the fast-growing, direct-to-consumer sporting goods industry in the United States via the formation of Norr," stated Richard Horgan, Chief Executive Officer of Fortium. "This is a business model and product line which I have significant experience working in, and our direct-to-consumer focus provides the continued degree of convenience and affordability consumers demand in today’s digital world. We believe that Norr’s initial product offerings are positioned to grow rapidly beyond the world of skateboarding, into a wide range of action sports market opportunities."
For additional information, please visit https://norrskate.com/.
About Fortium Holdings Corp
Founded in 2021, Fortium is a diversified holding company with two wholly owned subsidiaries: Elysian Premium Corp. ("Elysian") and Norr LLC ("Norr"). Elysian is establishing a nationally distributed, luxury cannabis brand with a vertically integrated, "seed-to-store" business model. Norr is a direct-to-consumer focused action sports company that will provide quality sporting equipment at affordable prices through platforms like Amazon. Norr’s goal is to help today’s youth overcome the barriers to entry in the action sports industry.
Cautionary Note Regarding Forward-looking Statements
This press release contains statements, estimates and projections with respect to anticipated future events that may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements, including statements regarding the scalability of our on-line direct to consumer sporting goods business. These forward-looking statements reflect various assumptions made by Fortium concerning anticipated results, which may or may not prove to be correct. All statements contained herein that address operating performance, future direction, management and control of Fortium, events or developments that are expected to occur in the future (including statements related to earnings, expectations, sales of assets, capital expenditures, or statements expressing general optimism about future operating results) are forward-looking statements.. The words "believe," "may," "estimate," "continue," "anticipate," "intend," "intention," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. Actual results could differ materially from those reflected in the forward looking statements contained herein as a result of a variety of factors, many of which are beyond Fortium’s control. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include the possibility that we are unable to acquire assets or businesses management identifies as viable on favorable terms or at all, the potential for friction which may arise between us and third parties, and regulatory challenges. Other risks are included in our filings with the Securities and Exchange Commission, including under the caption titled "Risk Factors" on Form 10-Q for the fiscal quarter ended September 30, 2021 and our Annual Report on Form 10-K for the fiscal year quarter ended December 31, 2020. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as may be required by law.
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