Naples Soap Company Announces Signing of Letter of Intent to Combine with The GNS Group, Inc. (OTC: GNSG)
NAPLES, Fla., June 28, 2021 (GLOBE NEWSWIRE) -- Naples Soap Company announces that it has signed a letter of intent (LOI) to combine with the GNS Group, Inc. (OTC: GNSG) pursuant to which GNSG will purchase 100% of Naples Soap Company’s shares in exchange for shares in GNSG. Subject to due diligence and execution of a definitive purchase agreement, the parties intend to close the transaction within the next 10 days.
Ms. Deanna Wallin, Founder and CEO of Naples Soap Company said, “We are pleased with the chance to go public and build our company by combining with GNSG and utilizing the GNSG public platform for growth capital, scaling our model, and executing on possible acquisitions.”
About Naples Soap Company
Founded in 2009 by Deanna Wallin, Naples Soap Company is a producer of over 400 bath, body and personal care products that are made in the USA with natural and organic ingredients. Products are sold at the company’s 10 retail locations along Florida’s west coast, central Florida and Panhandle. Naples Soap products are sold online from the company’s website at naplessoap.com, through other DTC (direct to consumer) channels such as Amazon.com, and at over 300 boutiques, spas and stores throughout the United States via the company’s wholesale division. For more information about Naples Soap Company, visit NaplesSoap.com.
Forward Looking Statements
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are subject to uncertainty and may not come to fruition. Readers are cautioned not to place undue reliance on any forward-looking statement including statements that list numbers and dates.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/2013a09d-2b87-4e96-8d2b-288d5827784f