CCA Industries, Inc. (NYSEMKT:CAW) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.
into a License Agreement (the Agreement) with Ultimark Products,
Inc. (Ultimark) for the exclusive right to manufacture, market
and sell the Porcelana brand of skin care products. Porcelana is
designed to reduce dark spots and brighten the skin.
license to use the Porcelana brand, formulas, packaging designs
and trademarks (collectively, the Porcelana Brand) in connection
with the design, development, manufacture, advertising,
marketing, promotion, offering, sale and distribution of
Porcelana products worldwide. In addition, the Company shall
purchase all good and saleable inventory of Porcelana products in
Ultimarks possession or control as of April 1, 2017 at Ultimarks
cost, without markup. The Agreement has a term of one year,
effective April 1, 2017 and ending March 31, 2018. The Agreement
may be renewed, at the Companys option, for up to two additional
one-year terms.
10% on the gross sales of Porcelana products manufactured and
sold under the Agreement. Royalties are payable quarterly,
commencing the first fiscal quarter in which Porcelana products
are sold to the Agreement. There is no minimum royalty for any
period under the Agreement. In addition, the Company has the
option to purchase the Porcelana Brand from Ultimark during the
term of the Agreement for an amount not to exceed $3.2 million,
subject to a fairness opinion. In the event of such purchase, the
Agreement shall thereafter terminate and no further royalties or
compensation will be due thereunder.
Lance Funston, is also the Chairman of the Board and Chief
Executive Officer of Ultimark.
entirety by the full text of the Agreement, a copy of which is
attached as Exhibit 10.1 to this Current Report on Form 8-K (Form
8-K) and incorporated herein by reference.
the approval of the Agreement. The press release is filed as
Exhibit 99.1 to this Form 8-K and is incorporated by reference in
this Item 8.01.
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Exhibit Number
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Description
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10.1
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License Agreement, effective April 1, 2017, by and
between CCA Industries, Inc. and Ultimark Products, Inc. |
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99.1
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Press release issued March 23, 2017
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About CCA Industries, Inc. (NYSEMKT:CAW)
CCA Industries, Inc. (CCA) manufactures and distributes health and beauty aid products. The Company is engaged in the sale of products in several health-and-beauty aids over-the-counter drug and remedies, and cosmeceutical categories. Under its brand names, the Company markets several different but categorically related products. The Company’s principal brand and trademark names include Plus+White (oral health-care products), Sudden Change (skin-care products), Nutra Nail (nail treatments), Bikini Zone (pre and after-shave products), Hair Off (depilatories), Solar Sense (sun-care products), Sunset Cafe (perfumes), Lobe Wonder (ear-care product) and Scar Zone (scar diminishing cream).The Company markets its products to drug, food and mass-merchandise retail chains, warehouse clubs and wholesalers, throughout the United States, and through distributors internationally. CCA Industries, Inc. (NYSEMKT:CAW) Recent Trading Information
CCA Industries, Inc. (NYSEMKT:CAW) closed its last trading session 00.00 at 3.20 with 1,965 shares trading hands.
