TRICCAR Holdings, Inc. Closes Acquisition By Frontier Oilfield Services And Announces Change Of Control, New Management Team
LAS VEGAS, March 11, 2020 /PRNewswire/ -- Bioceutical pioneer TRICCAR Holdings, Inc., announced today that it has closed on its definitive agreement to be acquired by Frontier Oilfield Services, Inc. (FOSI), an enterprise specializing in the safe disposal of non-oil fluids and particulate matter. With today's announcement, Frontier formally changes its name to TRICCAR, Inc.
Under terms outlined in the 8-K submitted to the Securities and Exchange Commission, the new TRICCAR, Inc. entity, delivered 80% of common stock to shareholders of TRICCAR Holdings, resulting in a change of control. The Company's stock symbol is expected to change in early 2020 to better reflect the TRICCAR brand name and health care focus.
As part of the transaction, TRICCAR elected William "Bill" Townsend as President & Chief Executive Officer and Director, Katrina Yao as Executive Vice President, Chief Financial Officer and Director, Frank E. Federer as Director, Steve Hayden as Director, and Bernard O'Donnell, former Executive Vice President of Frontier, as Director. Townsend, a serial entrepreneur, is a recognized expert in early-stage strategy from inception to successful exits valued at over $9 billion. Yao, a Certified Public Accountant, is a former senior executive at $2.5 billion online retailer Newegg, where she headed global enterprise finance.
"TRICCAR Holdings, Inc. has been active in the development of both bioceutical and pharmaceutical research and development to address ailments underserved by conventional pharmaceutical companies," said CEO Bill Townsend. "The acquisition of TRICCAR Holdings, Inc., by TRICCAR, Inc. will enable us to bring these therapeutic advances to a population who would otherwise not have access to bioceutical solutions to support their daily lives."
TRICCAR's bioceutical portfolio includes support for obesity and weight loss, calcium deficiency, diabetic nerve pain, ADHD, memory and recall, and hypothyroidism. The company has 51 products that have been validated by over $67,000,000 in clinical studies.
According to Townsend, TRICCAR, Inc. is now headquartered in Las Vegas, Nevada. Its management has retained auditors Turner Stone & Company, LLP of Dallas, and the SEC law firm of Cutler Law Group, Houston. Management has retained Black Legend Capital of Santa Monica, California as investment bank of record to conduct a $15,000,000 PIPE financing round to fund future operations and growth.
About TRICCAR
TRICCAR, Inc. is a Las Vegas, Nevada-based biomedicine company, creating bioceutical solutions that support the health of those suffering from the world's most common illnesses and diseases, including, obesity, hypothyroidism, calcium deficiency, nerve pain, diabetic neuropathy, and trigeminal neuralgia. The Company competes in markets estimated at $1 trillion in annual sales for human and animal sciences. TRICCAR products have not been evaluated by the FDA and are not intended to diagnose, treat, cure, or prevent any disease.
For additional information on TRICCAR, please visit http://www.triccar.com.
Forward Looking Statement Disclosure
This communication contains forward-looking statements. Any statements about our expectations, beliefs, plans, predictions, forecasts, objectives, assumptions or future events or performance are not historical facts and may be forward-looking. These statements are often, but not always, made through the use of words or phrases such as "anticipate," "believes," "can," "could," "may," "predicts," "potential," "should," "will," "estimate," "plans," "projects," "continuing," "ongoing," "expects," "intends" and similar words or phrases. Accordingly, these statements are only predictions and involve estimates, known and unknown risks, assumptions and uncertainties that could cause actual results to differ materially from those expressed in them. Our actual results could differ materially from those anticipated in such forward-looking statements.
Any or all of our forward-looking statements herein may turn out to be inaccurate. The inclusion of this forward-looking information should not be regarded as a representation by us or any other person that the future plans, estimates or expectations contemplated by us will be achieved. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. We have provided links to certain other web sites that may or may not provide material that is informative, and any information contained therein should not be considered a representation by the Company as to facts or materials contained therein.
Contact: Lee Brody
Tel.: (702) 330-2430
Email: [email protected]
SOURCE TRICCAR, Inc.
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