Cosmeceutical skin care brand bought by software company
The two companies have just announced that they have finalized an asset purchase agreement to give Zeezoo a controlling stake in the skin care company that was brokered last month.
Enhance develops cosmeceutical-based skin care products for the professional skin care industry that are distributed on a world-wide basis.
Acquisition adds to business plan
The acquisition will aim to add impetus to the company’s business plan which will market a range of skin car products under the Visible Youth brand or through private label arrangements with other companies.
The deal was forged after Zeezoo acquired all of the assets of Enhance in exchange for assets in Zeezoo together with the cancellation of certain securities, governed by existing ‘insiders’.
This means that in return for the acquisition of the Enhance brand, former stockholders will acquire 57 per cent of issued and outstanding stock in Zeezoo.
Executive reshuffle
Zeezoo named those ‘insiders’ as Dr, Samuel Asulai, who will become a director as well as president and CEO of Zeezoo, while Dr. Zenus Noon and Frod Botnevik will also become directors of the company.
Chris Hovey becomes vice president of operations and Brian Lukian becomes chief financial officer and secretary of the company, while Joel Gugo and Erickson Mercado both resigned their positions on the Zeezoo executive board as a result of the agreement.
Subsequent to the deal Zeezoo will now be named Enhance Skin Products Inc and will trade as a US subsidiary of Enhance Skin Products with headquarters being relocated from Nevada to Boulder, Colorado.
