LFTD Partners Inc. (OTCQB

AQSP) Announces Letter of Intent to Acquire Fresh Farms E-Liquid, LLC - Seite 2

If the transaction closes, Fresh Farms will operate as a wholly owned subsidiary of LFTD Partners Inc. Anthony J. Devincentis, Jakob M. Audino, Forrest F. Town and John Z. Petti, co-founders and co-owners of Fresh Farms, will continue to serve as the CEO, Sales Manager, Director of Sales, and as a member of the Board of Directors of Fresh Farms and as a consultant to Fresh Farms, respectively, under multi-year employment agreements, and Anthony J. Devincentis will join AQSP’s internal executive steering committee.

Fresh Farms’ CEO and Co-Founder Anthony J. Devincentis stated, “You are witnessing the gathering of the leading players in the hemp-derived products, e-liquid, and vape industries under one roof: LFTD Partners Inc. When we were approached by Chris Wheeler, CEO of Savage Enterprises, about partnering with Savage and Lifted Made in LFTD Partners, and we heard about LFTD Partners’ decentralized, entrepreneur-led format, we knew that we wanted to be a part of this. It’s great to have the opportunity to join such like-minded entrepreneurs to build LFTD Partners Inc. From Day 1, the Fresh Farms team has worked tirelessly to achieve our goals, and that effort continues to bear fruit. So far this year, subject to audit, Fresh Farms has already doubled its 2020 sales revenue – up from $8 million in 2020 to over $17 million year-to-date in 2021, including approximately $3.4 million in August alone. And, Fresh Farms’ unaudited year-to-date 2021 pre-tax profit is approximately $7 million. The idea of combining our talents and strong numbers with Lifted’s and Savage’s, in a public company, is exciting. We couldn’t be more excited about partnering with LFTD Partners Inc., Lifted Made and Savage Enterprises.”

Nicholas S. Warrender, co-founder, Vice Chairman and Chief Operating Officer of AQSP, and the CEO of AQSP’s subsidiary Lifted Made, commented, “We are thrilled to enter into this letter of intent with Fresh Farms. Once our planned mergers with Fresh Farms and Savage Enterprises close, Lifted Made, Fresh Farms and Savage Enterprises should be able to help each other grow faster and more profitably, by lowering costs of goods through combined buying power, by introducing new sales channels, by collaborating on innovative new products, and by internalizing manufacturing.”