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Jeffs’ Brands: After Successful Merger, Fort Technology Announces Record First Six Months for its Fully Owned Subsidiary with Revenues of $4.9 Million Representing Approximately a 10% Growth from the Same Period in 2024
Globenewswire· 2025-08-29 10:01
Core Viewpoint - Jeffs' Brands Ltd, a data-driven e-commerce company, announced the interim financial results of its subsidiary Fort Products Limited, showing growth in revenues for the first half of 2025 compared to the same period in 2024 [1][2]. Financial Performance - Fort's revenues for the first six months of 2025 were approximately $4.9 million, reflecting a year-over-year growth of about 10% from approximately $4.4 million in the same period of 2024 [2]. - For the second quarter of 2025, revenues totaled approximately $2.6 million, a slight increase of about 3% compared to approximately $2.5 million in the second quarter of 2024 [2]. Financing Activities - Fort announced a private placement of convertible notes for gross proceeds of CAD 5,000,000, with a maturity of two years and an interest rate of 10% per annum, payable quarterly [3]. Company Overview - Fort Technology Inc. specializes in manufacturing and selling products for the pest control and remedial repair industry [4]. - Jeffs' Brands aims to transform e-commerce by creating and acquiring products to become market leaders, leveraging advanced technology and management insights into the Amazon FBA business model [5].
Jeffs' Brands and Impact Acquisitions Receive Approval from TSX Venture Exchange for Fort Products' Merger at a Valuation of up to Approximately $15 Million
Globenewswire· 2025-06-20 11:17
Core Viewpoint - Jeffs' Brands Ltd has announced the acquisition of Fort Products Limited by Impact Acquisitions Corp, with the transaction expected to enhance growth in the e-commerce sector, particularly on the Amazon Marketplace [1][5][6] Group 1: Proposed Transaction Details - The TSX Venture Exchange has approved the acquisition of 100% equity interests of Fort Products by Impact, with an initial ownership of 75.02% and potential increase to 83.29% based on milestones [1][3] - Impact will issue 100,000,000 common shares to Jeffs' Brands at a deemed price of CAD $0.171246 per share, totaling approximately CAD $17.1 million (around US $12.5 million) [1] - The fair market value of Fort, as per an independent valuation report, ranges from CAD $16.86 million to CAD $20.59 million (approximately US $12.5 million to US $15 million) [1] Group 2: Impact and Future Plans - Upon completion of the transaction, Impact is expected to be listed as a Tier 2 technology issuer on the TSXV, with approximately 133,300,000 common shares outstanding [3] - Jeffs' Brands may receive an additional 66,000,000 common shares contingent on achieving certain milestones, potentially increasing its ownership to 83.29% [3] - The acquisition aims to leverage Fort's e-commerce platform to drive significant growth in global online retail markets [5] Group 3: Company Background - Jeffs' Brands focuses on transforming e-commerce by creating and acquiring products to become market leaders, utilizing advanced technology and insights into the Amazon FBA business model [7] - Fort Products, established in 2005, specializes in pest control and remedial repair products, boasting nearly 20 years of technical knowledge in the industry [8]
Jeffs' Brands Achieves an Important Milestone Towards Completion of Fort's Proposed Merger with a Publicly Traded Company – Receives Valuation Report of Fort for Approximately US$11.6 - US$14.2 Million
Newsfilter· 2025-03-13 11:10
Core Viewpoint - Jeffs' Brands Ltd is progressing towards a merger with Fort Products Limited, with a valuation report indicating Fort Products' equity interests are valued between CAD 16.8 million and CAD 20.5 million (approximately US$11.6 million to US$14.2 million) as of January 31, 2025 [1][2]. Group 1: Merger Details - The Proposed Merger involves Impact Acquisitions Corp acquiring 100% of Fort Products' equity interests in exchange for 75.02% ownership of Impact's share capital, potentially increasing to 83.29% based on milestone achievements [3]. - A minimum valuation of CAD 14 million (approximately US$9.6 million) for Fort Products is required as a closing condition for the merger [2]. - The completion of the Proposed Merger is anticipated by May 31, 2025, subject to various conditions including due diligence and regulatory approvals [5]. Group 2: Company Background - Jeffs' Brands aims to innovate in e-commerce by creating and acquiring products to enhance their market presence, leveraging advanced technology and insights into the Amazon FBA business model [7]. - Fort Products, established in 2005, specializes in manufacturing and selling products for the pest control and remedial repair industry, boasting nearly 20 years of technical expertise [8].
Jeffs' Brands Achieves an Important Milestone Towards Completion of Fort's Proposed Merger with a Publicly Traded Company – Receives Valuation Report of Fort for Approximately US$11.6 - US$14.2 Million
GlobeNewswire News Room· 2025-03-13 11:10
Core Viewpoint - Jeffs' Brands Ltd is progressing towards a merger with Fort Products Limited, with a valuation report indicating Fort Products' equity interests are valued between CAD 16.8 million and CAD 20.5 million (approximately US$11.6 million to US$14.2 million) as of January 31, 2025 [1][2]. Group 1: Merger Details - The Proposed Merger involves Impact Acquisitions Corp acquiring 100% of Fort Products' equity interests in exchange for 75.02% ownership of Impact's share capital, potentially increasing to 83.29% based on milestones [3]. - A minimum valuation of CAD 14 million (approximately US$9.6 million) for Fort Products is required as a closing condition for the merger [2]. - The completion of the merger is anticipated by May 31, 2025, subject to various conditions including due diligence and regulatory approvals [5]. Group 2: Company Background - Jeffs' Brands aims to innovate in e-commerce by creating and acquiring products to become market leaders, leveraging advanced technology and insights into the Amazon FBA business model [7]. - Fort Products, established in 2005, specializes in manufacturing and selling products for the pest control and remedial repair industry, boasting nearly 20 years of technical knowledge [8].