Sep 5 2014
Twinlab Consolidated Holdings, Inc. (OTC: TLCC) and Twinlab Consolidation Corporation ("TCC") announced today that they have entered into an agreement to merge in a stock-for-stock transaction with an anticipated closing date of September 15, 2014.
Following the merger, TLCC's business will be directed to the operations of TCC and its subsidiaries. CEOs of both entities are enthusiastic about the merger, which will position TCC for growth and provide expanded opportunities for acquisitions.
CEO of TCC, Tom Tolworthy remarks, "We are thrilled to enter into this merger with Twinlab Consolidated Holdings, Inc. This partnership will help support our long-term vision of TCC. There is an extraordinary opportunity in the health and wellness space and this partnership supports the creation of a business that is focused on the needs of the end-consumer with an eye on emerging trends and market direction that informs our future."
"We are really excited about working with TCC and creating a unified company that will support its future success" says Luz Vasquez, CEO of Twinlab Consolidated Holdings, Inc.
The respective boards of directors of TLCC and TCC have each approved the Merger Agreement and the transactions contemplated thereunder. The Merger Agreement remains subject to the approval of the stockholders of TCC. The closing of such transactions and the effectiveness of the Merger is anticipated to occur on or about September 15, 2014. However, there can be no assurances that the transactions contemplated under the Merger Agreement will be consummated, as the Merger Agreement may be terminated pursuant to the provisions thereof.
SOURCE Twinlab Consolidation Corporation