Safety Shot spins off Caring Brands business, plans to issue dividend

Safety Shot has entered into a Separation and Exchange Agreement with its subsidiary Caring Brands, whereby Caring Brands will operate as its own entity. Safety Shot is transferring its wellness consumer products segment, along with associated assets, intellectual property, and liabilities, to Caring Brands, an innovative developer of natural based therapeutics and wellness products. Caring Brands focuses on the treatment of hair growth, psoriasis, vitiligo, and atopic dermatitis. Spinning off the wellness unit will help each separate entity to pursue its own distinct strategy and business, while allowing shareholders to evaluate how each business is performing. Moving forward Caring Brands will be responsible for all costs associated with the operation of its wellness business. Caring Brands’ intent is to go public via an initial public offering within the next three months. As part of the agreement to divest Caring Brands, Safety Shot will receive three million shares of Caring Brands stock. To create value for shareholders, the Company’s Board plans to issue a dividend of two million shares for Safety Shot shareholders.