Mix 1 Life, Inc. (OTCPK:MIXX) signed a letter of intent to acquire ‘No Fear' brand asset from Shadow Beverages and Snacks, LLC for $12.5 million on February 26, 2015. Mix 1 Life, Inc. entered into an asset purchase agreement to acquire ‘No Fear' brand asset from Shadow Beverages and Snacks, LLC for $12.5 million on March 31, 2015. Under the terms of transaction, Mix 1 Life shall pay $2.31 million as convertible notes; up to $1.5 million shall be paid for expenses and past payables; 1.3 million new shares of Mix 1 Life shall be issued, out of which approximately 0.1 million shares will held in escrow for payment of current liabilities owed to IBML; and Mix 1 Life will forgive $0.59 million of Shadow Beverages and Snacks's debt in its accounts receivable. For the twelve months ended December 31, 2014, ‘No Fear' brand generated revenue of $4.3 million. The transaction is subject to the completion of due diligence by March 15, 2015 and execution of the definitive agreement. The deal is also subject to regulatory approvals, approvals of Boards of Directors of Shadow Beverages and Snacks and Mix 1 and shareholders of Shadow Beverages and Snacks, obtaining all required consents of third parties, among others. The transaction is expected to close on March 31, 2015. Zouvas Law Group, P.C. acted as legal advisor for Mix 1 Life. John Mills of ICR, LLC acted as public relations advisor in the transaction.

Mix 1 Life, Inc. (OTCPK:MIXX) completed the acquisition of ‘No Fear' brand asset from Shadow Beverages and Snacks, LLC on March 31, 2015.