CleanGo Innovations Inc. (CSE: CGII; OTCQB: CLGOF; FRA: APO) announced that its wholly-owned subsidiary, Kubera Black Technology Inc., has entered into a non-binding Letter of Intent (LOI) to acquire Freia Farmaceutici Srl, an Italian company specializing in plant-based therapeutics. The strategic move is intended to expand CleanGo’s market presence into the global health sector, leveraging Freia's expertise in vegetable omega oils and medical devices.
Freia Farmaceutici, headquartered in Milan, Italy, was established in 2009 and is recognized as a leading expert in Vegetable Omegas. The company focuses on developing non-drug therapeutic solutions from plants, including medical devices (bioactive substances), nutritional supplements, and food for special medical purposes. Its approach aligns with growing consumer awareness regarding well-being and disease prevention, offering solutions with no known side effects.
Key products include the ALFALIFE brand, which possesses significant anti-inflammatory properties with applications in cardiovascular diseases, obesity, and child neuropsychiatry. Freia also has a line of CE-marked Class IIA medical devices under the Dermolife brand, indicated for dermatological conditions such as radiodermatitis, atopic dermatitis, and scar remodeling. Additionally, the PROMEDIAL brand focuses on aesthetic medicine, offering topical and nutraceutical solutions through a partnership established in 2016.
The company’s pipeline includes new products in gynecology, gastroenterology, and pneumology, as well as a food supplement for multiple sclerosis currently in clinical trials. In 2024, Freia generated gross revenue exceeding €3.1 million, entirely from the Italian market, with a net positive balance sheet. The company is on track to exceed that revenue in 2025.
Under the LOI dated December 9, 2025, Freia shareholders will exchange their securities for up to 25,000,000 common shares of Kubera, with the valuation to be detailed in a definitive agreement within 45 days. The resulting company will continue Freia’s business and aim to complete an equity financing for at least twelve months of operations. The board will consist of five directors: four nominated by Freia and one by CleanGo. No long-term debt will be assumed by Kubera.
Anthony Sarvucci, President and CEO of CleanGo Innovations Inc., stated that the acquisition would significantly enhance the company’s market position by integrating Freia’s pipeline of plant-based therapeutic solutions, particularly in the nutraceutical and aesthetic medicine sectors. The transaction is subject to due diligence, definitive agreement, and regulatory approvals.
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