Janone Inc. Completes Acquisition Of Soin Therapeutics, Llc

JanOne Inc. ("JanOne") (Nasdaq: JAN), a company that focuses on the development of drugs with non-addictive, pain-relieving properties, announced today that it has completed the acquisition of Soin Therapeutics, LLC and its product, a patent-pending, novel formulation of low-dose naltrexone. This all stock transaction has a value of $13M, with up to an additional $17M depending on revenues generated by the product, for a total value of up to $30M. The transaction includes restrictions on the maximum number of shares of preferred stock and common stock that can be issued to or transferred by Soin Therapeutics at any given time.