BeActive Brands Inc. acquired Be Active Holdings, Inc. in a reverse merger transaction.
Under the terms of the agreement, Marc Wexler will take over as the Chief Executive Officer and Chairman of Be Active Holdings with Saverio Pugliese as President and Director, David Wolfson as Chief Financial Officer and Joseph Rienzi as Secretary whereas Glenn Kesner will resign as President, Chief Executive Officer, Chief Financial Officer, Secretary and Treasurer of Be Active Holdings. Also, Marc Wexler, Sam Pugliese, David Wolfson and Joseph Rienzi will join the Board of Directors of Be Active Holdings, while Glenn Kesner will resign from the Board of Directors of Be Active Holdings. The transaction is subject to approvals of court, governmental body and third parties. The transaction is approved by Board of Directors and shareholders of Be Active Brands, Inc and Be Active Holdings. Sichenzia Ross Friedman Ference LLP acted as legal advisor in the transaction.
BeActive Brands Inc. completed the acquisition of Be Active Holdings, Inc. (OTCBB:JALA) in a reverse merger transaction on January 9, 2013.