Stemtech Corporation (“Stemtech”) (OTCQB: GNTW), an innovative nutraceutical company and a pioneer in the field of stem cell nutrition, announced today that it has received $1.4M in funding from Sharing Services Global Corporation (OTCQB: SHRG), a leading development company and service provider in the direct-to-consumer space, with over $100 m in annual revenues.
The Sharing Services Global Corporation combined platform leverages the capabilities and expertise of various companies that market and sell products direct to the consumer.
“Stemtech is proud to receive funding from Sharing Services Global Corporation as a strategic investment,” said Charles Arnold, Chairman and CEO of Stemtech.
“As a significant player in the direct selling industry, SHRG understands the potential of Stemtech Corporation, and we believe that this strategic investment will be mutually beneficial, and is validation for our growth strategy going forward.”
As part of the transaction, John “JT” Thatch, the CEO of Sharing Services Global Corporation will join Stemtech Corporation as a member of its Board of Directors. Mr. Thatch has successfully started, owned and operated businesses in various industries that include service companies, retail, wholesale, education, finance, real estate management and technology.
Mr. Thatch successfully merged a technology company into a company that was a publicly traded entity, and became CEO of the company for five years which currently trades on the NASDAQ stock exchange under name CUI Global.
He has continued to work in the public and private sector since as a C-level Executive. He was named CEO of Sharing Services Global Corporation in March 2018.
RHK Noble Capital Markets doing business through the broker dealer Noble Capital Markets, Inc. served as placement agent for the transaction. “We are hopeful and encouraged by the progress Charles Arnold and his team have made in advancing Stemtech and look forward to the next phase of development as a publicly traded company”, said Richard H. Kreger.
Additional information regarding the SHRG transaction is set forth in the GNTW Form 8K dated September 20, 2021, which was filed with the Securities and Exchange Commission.
About Stemtech Corporation
Stemtech Corporation, a leading nutraceutical company with a direct sales distribution model, was founded on April 18, 2018, after acquiring the operations from its predecessor Stemtech International, Inc. which was founded in 2005. From 2010 through 2015, Stemtech International, Inc., was recognized four separate times on the Inc. 5000 Fastest-Growing Companies list. In 2018, the Company underwent an extensive executive reorganization, and continued operations under new leadership.
Stemtech specializes in creating products and formulas that are patent-protected in the U.S. and in select international markets. The Company’s patented formulas help the release, circulation and migration of the body’s adult stem cells from its bone marrow.
The Company markets its products under the following brands: RCM System, stemrelease3™, Stemflo® MigraStem™, DermaStem®, DermaStem Lift, OraStem® (Oral Health Care), and D-Fuze™. Its products are all-natural and plant-based and manufactured under cGMP (Current Good Manufacturing Practices) under the auspices of the Dietary Supplemental Health and Education Act (DSHEA). For more information, please visit www.stemtech.com.
About Sharing Services Global Corporation
Sharing Services Global Corporation (OTCQB: SHRG), formerly Sharing Services Inc., is a publicly traded diversified company dedicated to maximizing shareholder value through the acquisition and development of innovative companies, products and technologies.
The Sharing Services combined platform leverages the capabilities and expertise of various companies that market and sell products direct to the consumer. One of its primary divisions is Elevacity U.S., LLC a sales and marketing company based on utilization of independent contractors as the sales force). For more information, visit: www.SHRGInc.com
Get more information, facts and figures about Stemtech, click here for the Stemtech overview.