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, dated December 9, 2025, is a strategic move to expand CleanGo's market presence into the global health sector.
Freia Farmaceutici, headquartered in Milan, Italy, and established in 2009, is recognized as a leading expert in Vegetable Omegas. The company develops non-drug therapeutic solutions from plant-derived actives, including medical devices (bioactive substances), nutritional supplements, and food for special medical purposes. Its product portfolio includes the ALFALIFE brand, which has anti-inflammatory properties with applications in cardiovascular diseases, obesity, and child neuropsychiatry. Additionally, Freia's Dermolife line includes CE-marked Class IIA Medical Devices for dermatological conditions such as radiodermatitis and atopic dermatitis. The PROMEDIAL brand focuses on aesthetic medicine, offering topical and nutraceutical solutions.
Freia's pipeline is focused on expanding into gynecology, gastroenterology, and pneumology, and includes a food supplement with ongoing clinical trials for Multiple Sclerosis. In 2024, Freia's gross revenue exceeded €3.1 million, entirely from the Italian market, with a net positive balance sheet. The company is on pace to exceed that revenue in 2025. The acquisition would provide Freia immediate access to Canadian and US markets through CleanGo's corporate structure.
Under the LOI, Freia shareholders will exchange their securities for up to 25 million common shares of Kubera, with the valuation to be detailed in the definitive agreement. The resulting company will continue Freia's business, aim to complete an equity financing for at least twelve months of operations, and establish a board of five directors, with four nominated by Freia and one by CleanGo. No long-term debt will be assumed by Kubera. The transaction is subject to due diligence, a definitive agreement within 45 days, and regulatory approvals.
CleanGo Innovations Inc. believes this acquisition will enhance its market position by integrating Freia’s pipeline of plant-based therapeutic solutions, particularly in the nutraceutical and aesthetic medicine sectors. For more information, visit the original release on NewMediaWire.
