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, a European pharmaceutical company specializing in plant-based therapeutics. The proposed transaction is a strategic move to expand CleanGo’s market presence into the global health sector.
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 new therapeutic assets from plants in an ethical and sustainable way. Freia specializes in non-drug therapeutic solutions based on plant-derived actives, including medical devices (bioactive substances), nutritional supplements, and food for special medical purposes. This approach aligns with growing consumer awareness regarding well-being and disease prevention, offering solutions utilizing vegetable sources with no known side effects.
Freia maintains a strong scientific focus and actively pursues clinical evidence for its portfolio. Key products include the ALFALIFE brand of plant-based omega oil with significant anti-inflammatory properties, with applications in cardiovascular diseases, obesity, and child neuropsychiatry. Several products in the Dermolife line are registered as Class IIA Medical Devices, indicated for dermatological conditions such as prevention and treatment of radiodermatitis, atopic dermatitis, and scar remodeling. In 2016, Freia partnered with leading international companies to develop and market aesthetic medicine products under the PROMEDIAL brand, focusing on healthy skin and aesthetic medicine.
Freia’s pipeline includes new solutions in current therapeutic areas and development of products in gynecology, gastroenterology, and pneumology. A product with applications for Multiple Sclerosis, currently registered as a food supplement, has promising clinical trials ongoing.
Financially, Freia’s gross revenue exceeded €3.1 million in 2024, with 100% of revenue generated in the Italian market, resulting in a net positive balance sheet. In 2025, Freia is on pace to exceed its 2024 revenue numbers. Freia’s strategic expansion involves moving into other European markets, and with this transaction, the company gains immediate access to Canadian and US markets through the resulting issuer’s corporate structure.
Under the terms of the LOI dated December 9, 2025, Freia shareholders will exchange their outstanding securities for a maximum of 25 million common shares in Kubera. No long-term debt will be assumed by Kubera. Following the proposed transaction, the resulting company will continue Freia’s business, aim to complete a subsequent equity financing, and establish a board of directors consisting of five directors: four nominated by Freia and one by CleanGo. The completion is subject to satisfactory due diligence, negotiation of a definitive agreement within 45 days, and receipt of all necessary approvals.
CleanGo Innovations Inc. believes this strategic acquisition will significantly enhance its market position by integrating Freia’s strong pipeline of innovative, plant-based therapeutic solutions, particularly in the rapidly growing nutraceutical and aesthetic medicine sectors. For more information, visit the original press release at NewMediaWire.
