Amacore retains a significant investment stake in Zurvita’s new parent company, Red Sun
The Amacore Group, a provider of membership benefit programs and insurance programs, has spun off its Zurvita division to Red Sun Mining (Red Sun).
As a result of the spin off, Amacore retains a significant investment stake in Zurvita’s new parent company, Red Sun, while reducing the cash burn associated with Zurvita’s establishment, growth, and expansion.
Moreover, as part of the Share Exchange Transaction, Amacore entered into a comprehensive marketing and sales agreement with Zurvita. As per the deal, Amacore will, at its option, continue to provide Zurvita with administrative services and access to key benefits that Amacore maintains with third party vendors and product and service providers.
After the effects of the Share Exchange and Advertising Agreement, Amacore’s investment in Red Sun represents approximately 59% of the issued and outstanding common stock and approximately 41% of the voting rights of total equity securities outstanding.
Zurvita is a Houston, Texas-based network marketing company that markets health, financial, technology, energy, and consumer products to individuals, families, and businesses around the country.