Consegna Group Limited (CGP) is pleased to announce that it has entered into a Letter of Intent with Triple A Holdings Limited of Grand Cayman, an investment company that in cooperation with Consegna, will roll out the global distribution of the BreatheAssistTM range of products. It is the intent of the parties to enter into a definitive legally binding agreement on or before 30 September 2012 which will call for the payment of $5 million for a global license and guaranteed minimum 25% gross profit payments of $3 million on the second anniversary of the agreement, $5 million on the third, $7 million on the fourth and $10 million on the fifth to Consegna. Triple A Holdings will be responsible for the funding of the marketing and distribution globally. The definitive agreement will contain a buy back option should the parties reach an agreement with a major global Pharma distributor that ensures Consegna maximizes the monetisation of BreatheAssistTM while meanwhile having its products marketed and distributed globally by Triple A Holdings from their own resources.
Consegna’s CEO, Mr Fabio Pannuti said, “We are delighted to be monetising BreatheAssist through the agreement with Triple A Holdings and look forward to completing the definitive agreement shortly. Whilst the transaction is subject to final documentation, mutual due diligence and the fulfillment of several regulatory requirements, on completion at 30 September it delivers our company $5 million of non-dilutive funding. It also delivers a capex moratorium on BreatheAssist and the opportunity to derive significant global royalty income whilst simultaneously preserving the opportunity for Consegna to participate in the proceeds of any future sale of this exciting product.
BreatheAssistTM Elite Sports is a soft polymer nasal dilator that enhances breathing performance while also being discreet, safe, adjustable and comfortable. BreatheAssistTM Elite allows you to get the most out of your workouts and achieve your fitness goals. The Lind Partners, LLC is a New York-based alternative asset management company and manager of the Australian Special Opportunity Fund, LP. Lind selectively invests across a broad range of industries and economic environments with a focus on companies with market capitalizations ranging between $25 million and $1 billion having definable milestones and key inflection points that have the potential to create considerable shareholder value.