Creatd gains on buying majority stake in beverage brand

Creatd

02/08/2021 13:45

** Shares of technology company  CRTD.O  up 5% pre-market at
$3.58
    ** Co enters MoU to purchase a majority stake in
direct-to-consumer beverage brand, Dune Glow Remedy  urn:newsml:reuters.com:*:nPn3qDtVXa
    ** Co intends to acquire a 50.4% equity stake in Dune in
exchange for a combination of cash and stock
    ** Expects to execute definitive agreements in the fourth
quarter of 2021 and to close shortly thereafter
    ** Dune is expected to generate between $500,000 to $1 mln
net revenues over the next 12 months
    ** Dune is a brand focused on promoting wellness through its
range of health-oriented beverages
    ** Up to Friday's close, stock has lost ~18% YTD

 (Reporting by Shashank Nayar in Bengaluru)
 ((Shashank.Nayar@thomsonreuters.com; within U.S. +1 646 223
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