CleanGo Innovations Subsidiary Kubera to Acquire Italian Pharmaceutical Firm Freia Farmaceutici

CleanGo Innovations Inc., a Canadian company specializing in environmentally sustainable cleaning solutions, announced that its wholly-owned subsidiary Kubera Black Technology Inc. has entered into a non-binding Letter of Intent to acquire Freia Farmaceutici Srl, an Italian company recognized as a leading expert in plant-based therapeutics. This proposed transaction represents a strategic expansion into the global health sector for CleanGo, which has historically focused on industrial cleaning markets.

Freia Farmaceutici, established in 2009 and headquartered in Milan, specializes in developing and commercializing non-drug therapeutic solutions derived from plant sources. The company's portfolio includes medical devices containing bioactive substances, nutritional supplements, and food for special medical purposes. Freia's approach aligns with growing consumer awareness of well-being and disease prevention, offering solutions from vegetable sources with no known side effects.

The company maintains a strong scientific focus and actively pursues clinical evidence for its products. Freia is particularly noted for its expertise in vegetable Omegas, with its ALFALIFE brand demonstrating significant anti-inflammatory properties applicable to cardiovascular diseases, obesity, and child neuropsychiatry. Several products in Freia's Dermolife line are registered as Class IIA Medical Devices indicated for various dermatological conditions, including the prevention and treatment of radiodermatitis, atopic dermatitis, and scar remodeling.

Freia has also developed expertise in aesthetic medicine through its PROMEDIAL brand, which focuses on healthy skin and aesthetic medicine purposes with both topical and nutraceutical solutions. The company's pipeline includes developing new products in gynecology, gastroenterology, and pneumology fields, with a product showing promise for Multiple Sclerosis currently undergoing clinical trials.

Financially, Freia reported gross revenue exceeding €3.1 million in 2024, with all revenue generated in the Italian market, resulting in a net positive balance sheet. The company is on pace to exceed its 2024 revenue numbers in 2025. Under the proposed transaction, Freia would gain immediate access to Canadian and U.S. markets through the resulting corporate structure, supporting its strategic expansion beyond European markets.

Under the terms of the LOI dated December 9, 2025, Freia shareholders would exchange their securities for a maximum of 25 million common shares in Kubera. Following the transaction, the resulting company would continue Freia's business, aim to complete subsequent equity financing, and establish a board of directors with four members nominated by Freia and one by CleanGo. The transaction is subject to due diligence completion, negotiation of a definitive agreement within 45 days, and receipt of necessary approvals.

CleanGo Innovations believes this acquisition will significantly enhance its market position by integrating Freia's innovative plant-based therapeutic solutions, particularly in the rapidly growing nutraceutical and aesthetic medicine sectors. The company's existing focus on environmental sustainability through non-toxic and biodegradable cleaning solutions aligns with Freia's ethical and sustainable approach to plant-based therapeutics development.