uKarma Corporation (OTCBB:UKMA), a lifestyle multimedia and consumer products company focused on health, wellness and personal development, announced today that they have entered into a letter of intent (LOI:LOI) to acquire Yoga Shelter, LLC. uKarma will purchase Yoga Shelter with it's common stock.
Yoga Shelter currently operates four yoga and fitness studios in Michigan, three of which are corporately owned and one is jointly owned with an outside party pursuant to a licensing agreement. Yoga Shelter offers yoga and fitness classes, yoga teacher training programs, and travel and retreats throughout the world.
In addition, Yoga Shelter owns Yoga Medics, LLC which provides customized and cost-effective medically based yoga programs to prevent injuries, prepare patients for surgery, rehabilitate them after surgery, and treat various ailments and conditions. All YogaMedics protocols are evidence-based, consistent with traditional clinical treatment models, and delivered by trained and certified YogaMedics expert professionals.
One of Yoga Shelter's members and investors is Hannan Lis, former COO of Weight Watchers. Lis will be active in helping uKarma expand retail Xflowsion and Yoga Shelter studios as he did with Weight Watchers retail locations, along with providing strategic advisory to uKarma for its weight loss and fitness products.
"uKarma's pending acquisition of Yoga Shelter presents an exciting opportunity for reaching consumers in their pursuit of healthy living on a larger scale," remarked Lis.
"Yoga Shelter fits perfectly into uKarma's vertical integration strategy" said Bill Glaser, CEO of uKarma Corp. "uKarma will use Yoga Shelter as a platform to offer Xflowsion teacher training and retreats as well as expand our rapidly growing brand."
Once the deal is finalized, Steve Feldman, president of Yoga Shelter will become VP of uKarma and Yoga Shelter will offer Xflowsion classes in all its studio locations. This announcement comes on the heels of uKarma's first Xflowsion fitness studio, home DVD series and infomercial.
Xflowsion, with its revolutionary Triple Training®, is the only exercise program that efficiently and effectively combines the best elements of three proven workouts: martial arts, power yoga, and dance, into one convenient and fun workout, producing jaw-dropping results in one-third the time.
The Xflowsion DVD series is currently available online via www.xflowsion.com.
More About uKarma
Los Angeles based uKarma Corporation is a lifestyle multimedia and consumer products and services company focused on health, wellness and personal development. Our mission is to enrich peoples' lives and well being through the creation of exceptional DVDs, CDs, books and other proprietary products and services. Our focus is developing products that are fun, entertaining, and engaging so our customers are empowered to reduce stress, lose weight, build fitness, improve nutrition, enhance personal relationships, and become environmentally friendly. Our goal is to provide our customers with tools and information that can help them achieve total health, happiness, and prosperity that can last a lifetime. For all of your healthy living pursuits, we aspire to be All U Need™.