Mangoceuticals (NASDAQ:MGRX) Enters into Multiple Material Agreements

On January 27, 2025, Mangoceuticals, Inc. (NASDAQ:MGRX) entered into several significant agreements, as outlined in an 8-K form filed with the Securities and Exchange Commission. The company first announced a First Amendment to Payment Plan Letter Agreement with MAAB Global Ltd., modifying the terms of a $500,000 debt owed to Barstool Sports, Inc. This amendment allows MAAB the option to convert the amount into shares of Mangoceuticals’ common stock at a conversion price of $1.50 per share.

Following this, the company proceeded to finalize two Assignment, Assumption, and Novation Agreements with Epiq Scripts, LLC. These agreements involved the transfer of certain rights and obligations under existing contracts to Mango & Peaches Corp., a wholly-owned subsidiary of Mangoceuticals, with indemnification agreements in place to cover liabilities.

Additionally, Mangoceuticals inked an LT Global Practice Management Service Agreement on January 28, 2025, with LT Global Practice Management, an entity owned by the wife of the company’s CEO. This agreement entails LT Global providing virtual professionals to Mangoceuticals under specified terms.

Lastly, on January 30, 2025, the company signed a Master Distribution Agreement with Propre Energie Inc, allowing Mangoceuticals to license specific intellectual property and patent rights related to plant-based formulations aimed at skin brightening under the Dermytol® brand. The agreement entails compensation to Propre in the form of restricted common stock and a percentage of gross sales revenue during the contract period.

These agreements represent strategic moves by Mangoceuticals as it navigates various business arrangements and ventures to advance its market position and offerings. The details of each agreement are available in the respective exhibits filed alongside the 8-K form.

Please note that all details provided are based on the submitted 8-K form and the information disclosed within it.

It is crucial for investors and stakeholders to conduct further due diligence and consult financial advisors before making any investment decisions.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Mangoceuticals’s 8K filing here.

Mangoceuticals Company Profile

Mangoceuticals, Inc develops, markets, and sells various men's wellness products and services through a telemedicine platform in the United States. It offers erectile dysfunction (ED) products under the Mango brand and hair loss products under the Grow brand name. The company markets and sells these branded ED and hair loss products online through its website at MangoRx.com.