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MIRAMAR, Fla., Sept. 21, 2021 (GLOBE NEWSWIRE) -- Stemtech Corporation (“Stemtech”) (OTCQB: GNTW), an innovative nutraceutical company and a pioneer in the field of stem cell nutrition, announced today that it has received $1.4M in funding from Sharing Services Global Corporation (OTCQB: SHRG), a leading development company and service provider in the direct-to-consumer space, with over $100M in annual revenues. The Sharing Services Global Corporation combined platform leverages the capabilities and expertise of various companies that market and sell products direct to the consumer.
“Stemtech is proud to receive funding from Sharing Services Global Corporation as a strategic investment,” said Charles Arnold, Chairman and CEO of Stemtech. “As a significant player in the direct selling industry, SHRG understands the potential of Stemtech Corporation, and we believe that this strategic investment will be mutually beneficial, and is validation for our growth strategy going forward.”
As part of the transaction, John “JT” Thatch, the CEO of Sharing Services Global Corporation will join Stemtech Corporation as a member of its Board of Directors. Mr. Thatch has successfully started, owned and operated businesses in various industries that include service companies, retail, wholesale, education, finance, real estate management and technology. Mr. Thatch successfully merged a technology company into a company that was a publicly traded entity, and became CEO of the company for five years which currently trades on the NASDAQ stock exchange under name CUI Global. He has continued to work in the public and private sector since as a C-level Executive. He was named CEO of Sharing Services Global Corporation in March 2018.
RHK Noble Capital Markets doing business through the broker dealer Noble Capital Markets, Inc. served as placement agent for the transaction. “We are hopeful and encouraged by the progress Charles Arnold and his team have made in advancing Stemtech and look forward to the next phase of development as a publicly traded company,” said Richard H. Kreger.
Additional information regarding the SHRG transaction is set forth in the GNTW Form 8K dated September 20, 2021, which was filed with the Securities and Exchange Commission.
About Stemtech Corporation
Stemtech Corporation, a leading nutraceutical company with a direct sales distribution model, was founded on April 18, 2018, after acquiring the operations from its predecessor Stemtech International, Inc. which was founded in 2005. From 2010 through 2015, Stemtech International, Inc., was recognized four separate times on the Inc. 5000 Fastest-Growing Companies list. In 2018, the Company underwent an extensive executive reorganization, and continued operations under new leadership. Stemtech specializes in creating products and formulas that are patent-protected in the U.S. and in select international markets. The Company’s patented formulas help the release, circulation and migration of the body’s adult stem cells from its bone marrow. The Company markets its products under the following brands: RCM System, stemrelease3™, Stemflo® MigraStem™, DermaStem®, DermaStem Lift, OraStem® (Oral Health Care), and D-Fuze™. Its products are all-natural and plant-based and manufactured under cGMP (Current Good Manufacturing Practices) under the auspices of the Dietary Supplemental Health and Education Act (DSHEA). For more information, please visit www.stemtech.com.
About Sharing Services Global Corporation
Sharing Services Global Corporation (OTCQB: SHRG), formerly Sharing Services Inc., is a publicly traded diversified company dedicated to maximizing shareholder value through the acquisition and development of innovative companies, products and technologies. The Sharing Services combined platform leverages the capabilities and expertise of various companies that market and sell products direct to the consumer. One of its primary divisions is Elevacity U.S., LLC a sales and marketing company based on utilization of independent contractors as the sales force). For more information, visit: www.SHRGInc.com.
About RHK Noble Capital Markets
RHK Noble Capital Markets does business through Noble Capital Markets, Inc. a research-driven investment bank and broker dealer focused on small cap emerging growth companies in the healthcare, technology, media, transportation & logistics and natural resources sectors. Its people are talented, dedicated, experienced professionals who come together with a common cause; advising on long-term client-solutions by employing innovative, collaborative and responsive strategies. They are passionate and personable approaching things from their clients' perspective. Empowering their clients to create employment, engineer technological and medical breakthroughs, producing products and services that lay the foundation for the future. For more than 30 years these have been Noble’s guiding principles. Noble is registered with FINRA, SIPC and MSRB. For more information please visit: Investment Banking - Noble Capital Markets.
This announcement contains forward-looking statements within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such statements include but are not limited to statements identified by words such as "believes," "expects," "anticipates," "estimates," "intends," "plans," "targets," "projects" and similar expressions. The statements in this release are based upon the current beliefs and expectations of our company's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Numerous factors could cause or contribute to such differences, including, but not limited to, results of clinical trials and/or other studies, the challenges inherent in new product development initiatives, the effect of any competitive products, our ability to license and protect our intellectual property, our ability to raise additional capital in the future that is necessary to maintain our business, changes in government policy and/or regulation, potential litigation by or against us, any governmental review of our products or practices, as well as other risks discussed from time to time in our filings with the Securities and Exchange Commission, including, without limitation, our latest 10-Q filed July 13th, 2021. We undertake no duty to update any forward-looking statement or any information contained in this press release or in other public disclosures at any time. Finally, the investing public is reminded that the only announcements or information about Stemtech Corporation which are condoned by the Company must emanate from the Company itself and bear our name as its Source.
For Further Information, Contact:
Investors: Frank J. Pena, 908-675-0581, email@example.com