Company to take an active role in assisting CK41 in launching purEffectTM
SCOTTSDALE, Ariz., Feb. 12 /PRNewswire-FirstCall/ -- eFoodSafety.com, Inc. (OTC Bulletin Board: EFSF), an emerging healthcare consumer products company with a portfolio of aesthetics, dermatology, environmental and nutraceutical products, today announced that it has restructured its Marketing Agreement with Charlston Kentrist 41 Direct, Inc. ("CK41"), the Company's joint venture marketing partner for purEffectTM, a four-step acne treatment system.
eFoodSafety.com believes that a more marketable financial arrangement and greater collaborative effort will enable CK41 to achieve its business financing goals and execute its product marketing plans. Under the terms of the restructuring, eFoodSafety.com will transfer all of its rights to purEffectTM to CK41 for an approximate five percent (5%) equity stake in CK41 with three year warrant rights to purchase up to an additional five percent (5%) equity stake based on the current fully diluted ownership of CK41. Additionally, eFoodSafety.com will receive a two percent (2%) royalty on worldwide purEffectTM adjusted gross sales. The restructured agreement also sets certain performance milestones for CK41 in the launch and marketing of purEffectTM. eFoodSafety.com will have one seat on the CK41 board of directors.
Martin Schmieg, current president and CEO of Freedom2, Inc. and future Chairman and CEO of eFoodSafety.com, commented, "Collectively, eFoodSafety and CK41 can position purEffectTM to reach its market potential in the all-in-one acne treatment solutions market. By pooling our financial and marketing resources, we can overcome the obstacles that have heretofore kept purEffectTM from the market. CK41's business plans are aggressive and rightly so in a market that demands performance and differentiation in order to gain market share. Both CK41 and eFoodSafety are committed to the success of purEffectTM. As such, we plan to do everything possible to help CK41 bring this product to market."
eFoodSafety.com will provide further details on the restructured Marketing Agreement on its monthly investor conference call, scheduled for Tuesday, February 17th at 4:30 p.m. Eastern time.
About eFoodSafety.com, Inc.
eFoodSafety is an emerging healthcare consumer products company with a portfolio of aesthetics, dermatology, environmental and nutraceutical products. The company's focus is on developing, licensing and commercialized healthcare products that address the health needs of consumers worldwide.
About CK41 Direct, Inc.
CK41 Direct, Inc. is a leading producer of direct response infomercial campaigns. Combining 50 years of expertise in network television and direct marketing know-how, the principals and directors of CK41 learned the direct response TV industry from the ground up. This experience has taught CK41 how both conventional and unconventional marketing strategies can excel a direct response television campaign.
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|SOURCE eFoodSafety.com, Inc.|
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