ENTERS AGREEMENT TO PROVIDE DIP FINANCING TO ZURVITA INITIATING CHAP 11 PROCESS By Investing.com

GOTHENBURG, Sweden, December 22, 2024 /PRNewswire/ — Zinzino has a press release of 20240617 announced that the letter of intent to acquire 100% of the shares of the North American direct selling company. Zurvita Group Inc. “Zurvita or Company” was signed. Since then, Zinzino discuss with the owners Zurvita Group Inc. and instead decided that the purchase price of Zurvita’s assets in Chapter 11 continued for the existing Company. Zinzino’s the best.

Zinzino provides debtor-in-possession (DIP) financing to Zurvita, which filed for Chapter 11 bankruptcy. December 20, 2024. By entering as a creditor in Chapter 11 Zurvita with all debts 4.5 million dollars, Zinzino at the same time he proposes to acquire the company’s property at the so-called fee of beaten horses. If the offer is approved, the DIP loan will be converted into a portion of the purchase price paid for the loan, which will be determined after Zurvita completes a sale process subject to higher and better rates in accordance with the applicable provisions of Chapter 11. Other customers reserve the right to offer Zurvita fees during the process and if another request is accepted, Zinzino’s the loan will be repaid and some of the costs associated with the process will be reimbursed.

Zurvita is a direct selling health company with operations in United States, Canada and Mexico. The brand portfolio offers a wide variety of health and wellness products. The business has annual sales of approx $30 million which has beautiful edges. A possible transaction with Zinzino is expected to increase growth through synergies arising from the combined network, combined with Zinzino’s test-based product concept. Therefore, the Company’s profit will be able to grow well by using it Zinzino’s at the technical and organizational level.

Visionary ideas, technological foresight, proper nutrition of experiments at the level of mobile phones and a strong state of using the current methods will form the basis of the new cooperation. Following the acquisition of VMA Life in 2020, Enhanzz in 2022, a strategic partnership with ACN and the recent acquisition of Xelliss assets, Zinzino has been looking for more capital investments to maintain its sustainable, profitable growth, strengthen its distribution capabilities, expand into new markets and enhance its product portfolio in new customer areas.

• “Personal advice and tailored solutions are the future, not only in health and wellness,” says Bergheim Pettersen DayCEO of Zinzino. “Together, we have years of combined industry experience and everything needed to deliver the ultimate personalized direct selling experience”. Jay ShaferCEO and co-founder of Zurvita, says “After considering many options for the company and under the guidance of our consultants and third party consultants, we feel that this provides a great opportunity to continue the Zurvita mission, provide the highest quality products, and provide development for our employees and consultants. We are excited to see what the future holds for Zurvita.

For more information:Bergheim Pettersen Day CEO Zinzino +47 (0) 932 25 700, www.zinzino.com

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Description: Carnegie Investment Bank AB (announcement)

Zinzino AB (publ.) is obliged to publish this information in accordance with EU rules governing market abuse. Information provided by the contact person above for publication at 20.00 on the 21st of December 2024.

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