Bergio International, Inc. signed a binding letter of intent to acquire 51% assets of GearBubble for $3.2 million.
May 11, 2021
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Bergio International, Inc. (OTCPK:BRGO) signed a binding letter of intent to acquire 51% assets of GearBubble for $3.2 million on May 6, 2021. As of July 1, 2021 Bergio International, Inc. entered in an agreement to acquire 51% assets of GearBubble. As part of consideration Bergio will pay $2 million in cash and an additional $1.162 million in 15 subsequent monthly cash payments. Under the terms of the Merger Agreement, the Gear Bubble Shareholders also have an opportunity to earn shares of BRGO common stock (“BRGO Incentive Common Shares”) if certain revenue and net income benchmarks are met by Merger Sub in the three years following the Closing of the Acquisition Agreement. Upon closing, Don Wilson, majority shareholder of Gear Bubble shall also receive 49,000 shares. Acquisition Agreement is set to be fully executed after a full financial audit of Gear Bubble’s assets by July 1, 2021. The transaction is subjected to regulatory approval, third party approval and audit of the company.
Bergio International, Inc. is engaged in the product design, manufacturing and distribution of fine jewelry primarily in the United States. Its products consist of a range of jewelry styles and designs made from precious metals, such as gold, platinum and Karat gold, as well as other precious stones. Its product range is divided into three fashion lines: an 18 karats (K) gold line, a bridal line, and a couture and/or one of kind pieces. The Bergio brand is associated with handcrafted and individually designed pieces with European sensibility, Italian craftsmanship and a bold flair for the unexpected. The Bergio brand designs consist of upscale jewelry that includes white diamonds, yellow diamonds, pearls, and colored stones, in 18K gold, platinum, and palladium. It designs and produces approximately 100 to 150 product styles. Its manufacturing control over its line as a result of having a manufacturing facility in New Jersey as well as subcontracts with facilities located in Italy.
BERGIO INTERNATIONAL, INC. 
