Greenlite Ventures, Inc. dba Game Time Productions (GRNL) acquired Altitude Wellness, Inc., Trident Water LLC. and Altitude International, Inc, operating as wholly-owned subsidiaries of Altitude International Holdings, Inc. The acquisitions were reportedly structured as no-liability, debt-free transactions for GRNL, with a total consideration of 600,000 common shares of GRNL stock going to Altitude International Holdings.
GRNL said it is working with top industry leaders in all three market sectors to restructure and/or sell the newly acquired assets in exchange for ongoing royalty payments from the new partners.
GRNL entered into a multi-tiered royalty agreement with Blue Sky Strategy, LLC, which owns and operates the former Trident Water entity. Blue Sky reportedly has a 14-year history in the Atmospheric Water sector and has built a global network of customers and connections.
GRNL also signed an agreement to spin off the Altitude Wellness acquisition in exchange for guaranteed royalty payments to GRNL. The new ownership group plans to build a flagship Altitude Fitness Center in Miami featuring simulated altitude training. The proposed new location will be a model for future franchised units.
To further its Altitude Chambers acquisition, GRNL engaged the exclusive services of Dave Vincent, a pioneer in the altitude industry and the owner of Europe’s simulated altitude providers, Sporting Edge U.K. Vincent is seeking to build on the installation of Sporting Edge manufactured altitude chambers for the Miami Dolphins, Orlando Magic and Tulane University and gain additional traction with professional leagues, teams and colleges in the U.S. GRNL said Vincent is reportedly negotiating an exclusive manufacturing, sales and royalty agreement with “one of the world’s most respected names in athletic training and conditioning equipment,” on behalf of GRNL.
