Torque Announces Fully Executed LOI to Acquire a Market Leader in Keto Market

Wheat Ridge, Colorado--(Newsfile Corp. - February 18, 2021) - Torque Lifestyle Brands Inc. (OTC Pink: TQLB) ("Torque Lifestyle" or the "Company") (www.torquelb.com) an emerging leader in the active lifestyle sports nutrition and supplements marketplace, is excited to announce the signing of a Letter of Intent (the "LOI") to acquire American Metabolix (AmericanMetabolix.com), a leading producer of sports nutrition and health supplements products.

American Metabolix has become a rapidly growing premium supplement company in the world with sports nutrition and Ketogenics ("Keto"). Its products are featured and available at GNC, Bodybuilding.com, and other high end sports nutrition retailers globally. American Metabolix products were sold in over 600 brick and mortar locations in 2020 and are expected to increase that number through 2021. The Company's revenues were in excess of $1 million in the pandemic year of 2020 and they expect to substantially increase that as COVID related issues subside and as online presence and spend increases.

Leonard K. Armenta Jr, President of Torque Lifestyle, noted, "Jason and Markus have built something special at American Metabolix, and we are excited to bring the business into our model and leverage its cutting-edge product development, industry leading quality standards, and broad distribution footprint. They are trailblazers in the supplements space, disrupting the market with the world's first keto meal replacement product. We look forward to building on that tradition as we broaden our product category reach and expand our distribution resources."

American Metabolix was founded in 2012 by Jason Duran and Markus Trillsch, both of whom have established themselves as experienced innovators in the sports supplement industry, developing multiple disruptive brands and products. The pair were first involved in Cellucor, beginning in 2003, and left in 2011 to launch American Metabolix, with a dedicated vision centered on quality and authenticity.

American Metabolix has gone on to win awards as a sports nutrition and supplements brand in every relevant category while remaining true to its core value proposition.

Management notes that "Keto" is actually an abbreviation for "ketosis", which refers to a metabolic state involving the transformation of stored fatty tissue into ketones by the liver to energize basic body functions, which the liver is programmed to do when facing an absence of new carbohydrates in fresh dietary inputs.

The Keto diet trend was ranked as the most popular consumer diet in the 7th annual Pollock Communications and Today's Dietitian "What's Trending in Nutrition" 2019 survey. The global ketogenic diet market is expected to reach nearly $15 billion by 2027, according to a recent report by Grand View Research.

"We are very excited about leveraging and scaling the tremendous foundation that has been built at American Metabolix, and we look forward to updating current and prospective investors as we move toward finalization of this acquisition, pending a process of good-faith negotiation of final terms," added Armenta.

About Torque Lifestyle Brands Inc.

Torque Lifestyle Brands Inc. (OTC Pink: TQLB) is focused on driving performance through acquisitions and by advancing original brands in the rapidly growing supplemental nutrition marketplace.

Cautionary Statement Regarding Forward-Looking Statements

Statements contained herein that are not based upon current or historical fact are forward-looking in nature and constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements reflect the Company's expectations about its future operating results, performance, and opportunities that involve substantial risks and uncertainties. These statements include but are not limited to statements regarding departure of the company's CEO. When used herein, the words "anticipate," "believe," "estimate," "upcoming," "plan," "target," "intend" and "expect" and similar expressions, as they relate to Progressive Care Inc., its subsidiaries, or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties, and other factors that could cause the Company's actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements.

Corporate Contact:
invest@torquelb.com

Investor Relations Contact:
EDM Media, LLC
https://edm.media
(800) 301-7883

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/74745

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