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.
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.
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Contact: Lee Brody
Tel.: (702) 330-2430
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SOURCE TRICCAR, Inc.