Deal will add the “Power of Oil of Oregano” to True Leaf’s growing roster of Quality of Life-enhancing brands
Vancouver, November 21, 2016 - True Leaf Pet Inc. has signed a binding Letter Of Intent (LOI) to purchase the assets and intellectual property of OregaPet®, an award-winning Canadian brand of medicinal products for pets, based in Vernon, BC.
OregaPet® is the first and only brand available in the global marketplace offering the power of oil of oregano in products designed specifically for pets. “We saw the potential and jumped at the opportunity to acquire the brand,” said Darcy Bomford, True Leaf Pet CEO. “The full range of products – infused with oil of oregano – is a perfect complement to our True Leaf Pet supplements. It supports our mission to provide quality of life for people and pets.
Oil of oregano’s efficacy is widely known – most commonly as a preventative treatment when the first signs of a cold appear. The herbal oil is known to be an anti-viral and also a powerful anti-microbial that can help fight off infections. OregaPet has brought the healing properties of this unique natural ingredient to an extensive product line including dental treats, toothpaste, dental spray, ear treatment, first aid gel, bed and body spray and shampoo.
OregaPet’s product line has attracted industry recognition for its quality and innovation. OregaPet® Bed and Body Spray has received the 2016 NationalNutrition.ca award for ‘Best Pet Product’ and OregaPet® Oil of Oregano received the 2013 Alive® Consumer’s Choice Silver Award for ‘Best New Product’.
“Consumers are looking for alternatives to strong pharmaceuticals, and we see OregaPet’s® award-winning natural-focused line of medicinal products as an effective and sought-after alternative,” said Mr. Bomford.
The company hopes to complete the agreement by January 1, 2017, and then roll out a refreshed, True Leaf Pet-branded line to Canadian and US customers early next spring.
Terms of the agreement are subject to final due diligence and regulatory approval.
About True Leaf Medicine International Ltd.:
True Leaf Pet Inc. is a wholly-owned subsidiary of True Leaf Medicine International Ltd., which has entered the $104.9 billion global pet care industry with a line of hemp-focused pet chews and supplements marketed through natural pet health and veterinary channels in Canada, the US and Europe. The company has also filed an application under Health Canada’s Marihuana for Medicinal Purposes Regulations (MMPR) to become a Canadian licensed producer through its ‘True Leaf Medicine’ subsidiary. It has passed through the preliminary and enhanced screening process of Health Canada’s review and is currently awaiting security clearance and ‘prelicensing inspection’ approval.
Paul Sullivan BreakThrough Communications
Kevin Bottomley Director and Corporate Relations