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ATLANTA, GA, Nov. 14, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- True Nature Holding, Inc. (OTCQB: TNTY) today announced that it is forming a new Irish corporate entity, Mitesco PLC to act as a holding company for its European based acquisitions. The new name, which is Latin for “progress”, will begin a new theme for the Company, where it is assembling healthcare technology solutions companies, generally, those that are early stage, but past proof of concept, and with revenues in the $2 million to $20 million range. It expects that the new operations will progress: by growing their market presence geographically in new markets, including the North American markets. The new entity will be based in Dublin, Ireland.
Separately, it announced that it has retained Matheson, the law firm headquartered in Dublin, Ireland as its counsel and advisor on its European acquisitions and equity fundraising activities. The Company, whose stock currently trades in the U.S. on the OTC QB Marketplace, has opened conversations regarding a possible listing, or dual listing, on European exchanges and it has named Matheson to be its intermediary in those conversations, and concerning fundraising in the European finance community.
“We see a wealth of opportunities in the European marketplace. Several nations have provided funding and guidance to entrepreneurs in their countries who have a passion for improving both the quality and efficiency of healthcare. We think these innovative applications can grow worldwide with some marketing and capital investment,” said Larry Diamond, CEO of True Nature.
Julie Smith, the recently named President and COO, discussed the new corporate identity, “We see the chance to change the world of healthcare, to make significant progress toward the empowerment of the individual in directing their health, with information that can be readily shared with the healthcare professionals that they need, and want. The idea that the relationships between the provider and user of healthcare services can be re-established in the way it existed in prior generations, is real progress. We want all to know that “progress” in our theme, and the new name, “Mitesco” allows us to carry that theme from the Latin translation, forward into the future.”
When asked about the selection of Matheson as its new counsel with regard to European operations and investments, Diamond responded, “We see this new holding company for European activities as a fundamental building block for the future of the Company. Beyond acquisitions, there are excellent technology development resources in Ireland and good access to other nations where we desire to develop business. Past the acquisition and operations plans, we see the equity markets in Europe as providing real potential for the growth capital we will need to expand the targets we have and to realize the monetization of the operations. Matheson is the law firm of choice for internationally focused companies and financial institutions doing business in and from Ireland and has market-leading practice areas in corporate transactions, equity market fundraisings, and other financings, and within the healthcare market serving the entire European community. It’s a perfect fit.”
The Mission of True Nature Holding, Inc.
We have in development a suite of offerings aimed at enhancing healthcare throughout the supply chain and to end-users. In addition, we intend to acquire and implement technologies and services to improve the quality of care, reduce cost, and enhance consumer convenience. We are focused on developing a portfolio of companies that provide healthcare technology solutions and the team is adept at deal structures supportive of long term organizational value. The holding company structure facilitates profitable growth and enables the acquired business to focus on scale. The TNTY portfolio of companies will apply leading-edge solutions that emphasize stakeholder value and leverages distinct sector trends.
Statement Under the Private Securities Litigation Reform Act
As contemplated by the provisions of the Safe Harbor section of the Private Securities Litigation Reform Act of 1995, this news release contains forward-looking statements pertaining to future, anticipated, or projected plans, performances, and developments, as well as other statements relating to future operations. All such forward-looking statements are necessarily only estimates or predictions of future results or events and there can be no assurance that actual results or events will not materially differ from expectations. Further information on potential factors that could affect True Nature Holding, Inc. is included in the Company's filings with the Securities and Exchange Commission. We expressly disclaim any intent or obligation to update any forward-looking statements.