ATLANTA, GA, Sept. 21, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – Springs Rejuvenation, Inc., formerly Avra, Inc. (OTC Pink: SPRJ), announces an exciting new direction.
Springs Rejuvenation, Inc., formerly, AVRA, Inc., (the public company) announced today that Management and Dr. Charles A. Pereyra, the founder of Springs Rejuvenation Stem Cell Therapy, LLC (the private company), who entered into a merger agreement in November 2021, have agreed that the companies will split and revert back to their pre-merger status.
In the agreement that governs this action, Dr. Pereyra, through the private company, will retain the intellectual property of Springs Rejuvenation, including the name and web site and other related IP.
The public company will retain the clinics that it has developed in Atlanta, GA and Ft. Lauderdale, FL, including all fixtures and equipment.
Furthermore, the parties have agreed that the public company will file a corporate action with FINRA to obtain a new name and ticker symbol. In the interim, the public company will begin to operate as NewRegen Inc. This filing has been submitted.
New marketing material, web site, and ancillary social media platforms for NewRegen have been created.
Everett Dickson, Springs Rejuvenation CEO, stated, “This transaction marks an entirely new direction for AVRA/NewRegen. While we will continue to expand the clinic operations, in addition, we are developing new revenue streams with strategic partners deeply ingrained in the space. These include a wholesale operation and a new line of products for our clients. The change also eliminates nearly $400k in annual overhead, associated with Dr Pereyra and his staff. That extremely high overhead was severely limiting our growth and profitability. We wish Dr. Pereyra and his staff great success in all their endeavors.”
Additional details to follow shortly.
FORWARD-LOOKING STATEMENTS:
This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements relate to future events, including our ability to raise capital, or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
Company Twitter: @Springsavra
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