Ladybug and Growhouse Nutraceuticals Ltd. Advance Expansion
Growhouse and Vitawin Supplements Ltd. Discuss Asset Purchase Options
TULSA, OK, Jan. 16, 2024 (GLOBE NEWSWIRE) -- via – Ladybug Resource Group, Inc.; (OTC PINK: LBRG) ("Ladybug" or the "Company"), through its subsidiary Growhouse Nutraceuticals Ltd., is strategically enhancing its quarter-over-quarter revenue growth through key acquisitions in the health and wellness sector. A part of this strategy includes the potential acquisition of assets from Vitawin Supplements Ltd., a move aimed at bolstering Growhouse's footprint in the e-commerce nutraceutical market. Vitawin Supplements Ltd. () is a rapidly expanding health and wellness company, based in Coquitlam, British Columbia.
"As we look ahead to 2024, Growhouse is actively seeking opportunities that resonate with our goals for growth and innovation," stated Tamara Maxfield, B.A., CEO of Growhouse. She further added, "The prospective acquisition of e-commerce assets from Vitawin Supplements Ltd. is a key step in our journey. This move is more than just a product line expansion; it's about forging a more engaging and customer-focused experience.”
Ms. Maxfield added, "The growth we experienced in 2023 was remarkable, and we anticipate that this acquisition will significantly boost our presence in the market. In my role as CEO, I believe this move will not just lead to a potential estimated increase in our quarterly revenue by around $600,000 but will also strengthen our dedication to providing outstanding value to both our customers and stakeholders.”
For the 2024 calendar year, the Company is embarking on an ambitious strategic plan aimed at accelerating its growth. This plan is centered around expanding its customer base and enhancing its e-commerce product offerings. A critical element of this strategy is the acquisition of valuable assets that are in line with the Company's growth goals. In line with this, Growhouse has initiated active discussions with Vitawin Supplements Ltd., a notable player in the nutraceutical industry. The objective is to acquire certain e-commerce assets from Vitawin which are anticipated to complement Growhouse’s existing product portfolio.
This strategic decision by Growhouse is more than just a financial maneuver; it's a crucial component of the long-term strategic plan. Through the integration of assets from Vitawin Supplements Ltd., Growhouse is aiming to enhance the diversity of its e-commerce product line. This, in turn, is expected to attract a wider range of customers. Furthermore, this acquisition is seen as a key driver in boosting Growhouse's overall revenue, contributing to a stronger, more competitive, and financially sound business framework. Such a framework is designed to effectively respond to the dynamic requirements of both the e-commerce and nutraceutical industries.
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About Ladybug Resource Group Inc.
Ladybug Resource Group Inc. is rapidly establishing itself as a notable creator of e-commerce platforms, particularly focusing on wellness and nutraceutical companies. This enterprise has expanded its reach by launching Growhouse Nutraceuticals Ltd., a venture that specializes in marketing and selling a range of wellness and nutraceutical products. Growhouse Nutraceuticals Ltd. primarily targets sports nutrition and peak performance consumers, catering to a specific niche in the wellness and health supplement market. This strategic move indicates Ladybug Resource Group Inc.'s commitment to tapping into specialized market segments within the broader wellness industry.
Safe Harbor for Forward-Looking Statements: This news release contains forward-looking statements which are not statements of historical fact. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes,” “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties, and other factors involved with forward-looking information could cause actual events, results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include but are not limited to changes in general economic and financial market conditions. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Company Contact:
Alan K. Fetzer, Chairman and CEO
Ladybug Resource Group Inc.
1408 S. Denver Avenue, Tulsa, OK 74119
