B2Digital, Inc (OTCMKTS: BTDG) stock closed flat on Thursday after the news.
BTDG stock ended Thursday at $0.0043, almost unchanged. More than 7.59 million shares traded hands, below its 30-day average of 8.34 million shares. The stock opened at $0.0046 and moved within a range of $0.0043 – 0.0050.
BTDG Released News
B2Digital Acquires Club Fitness of Birmingham, Expanding Gym Network to Five Locations
- BTDG announced the closing of the Company’s Business Purchase Agreement (the “Agreement”) to acquire all of the equity, assets, and interests of Club Fitness, Inc. (“Club Fitness”), an Alabama Corporation located in the Birmingham, Alabama Area.
- According to the Agreement, the purchase of Club Fitness includes full ownership of all of the business assets of Club Fitness, including all of its customer relationships, revenue streams, infrastructure, equipment and the fitness facility equipment.
- This fitness facility will become the fifth “One More Gym” location to be owned and operated by B2Digital as a fitness and fighter training facility linked to the Company’s B2 Fighting Series combat sports brands.
- The Company plans to renovate the facility and add Jiu-Jitsu, Boxing, and MMA instruction areas to integrate it fully into the B2 Training Facilities Network.
- The Company continues to seek to drive long-term shareholder value by cultivating the strong synergy between its B2 Fighting Series and One More Gym brands, creating an ecosystem for fighter development, as well as a high-impact marketing channel targeting aspiring fighters and MMA fans.
“The Birmingham area has great potential for the B2 brand,” commented Greg P. Bell, Chairman & CEO of B2Digital. “This location should fit into our model hand-in-glove given our existing branding footprint in the region and its overall potential as a high-quality training facility location. This acquisition continues to make good on our stated plan to acquire 1-2 new gyms each quarter to drive and increased our revenue growth for B2. We continue to anticipate brand-derived revenue growth for each acquired gym leading to continued overall performance in the business over the short-, intermediate-, and long-term horizons.”