{"id":97247,"date":"2020-12-30T18:00:00","date_gmt":"2020-12-30T18:00:00","guid":{"rendered":"https:\/\/icrowdnewswire.com\/?p=27861962786196"},"modified":"2020-12-30T18:00:00","modified_gmt":"2020-12-30T18:00:00","slug":"aaj-capital-2-corp-announces-that-tut-fitness-group-signs-manufacturing-agreement-to-secure-additional-inventory-and-production-capacity-to-deliver-high-performance-affordable-home-gyms","status":"publish","type":"post","link":"https:\/\/ipsnews.net\/business\/2020\/12\/30\/aaj-capital-2-corp-announces-that-tut-fitness-group-signs-manufacturing-agreement-to-secure-additional-inventory-and-production-capacity-to-deliver-high-performance-affordable-home-gyms\/","title":{"rendered":"AAJ Capital 2 Corp. Announces that TUT Fitness Group Signs Manufacturing Agreement to Secure Additional Inventory and Production Capacity to Deliver High Performance &amp; Affordable Home Gyms"},"content":{"rendered":"<p><a href=\"https:\/\/icrowdnewswire.com\/2020\/12\/30\/aaj-capital-2-corp-announces-that-tut-fitness-group-signs-manufacturing-agreement-to-secure-additional-inventory-and-production-capacity-to-deliver-high-performance-affordable-home-gyms\/#\" class=\"icrowd_post_img\"> <!--<img decoding=\"async\" src=\"https:\/\/icrowdnewswire.com\/wp-content\/uploads\/2020\/12\/4990-1609275536.jpeg\" alt=\"AAJ Capital 2 Corp. Announces that TUT Fitness Group Signs Manufacturing Agreement to Secure Additional Inventory and Production Capacity to Deliver High Performance &amp; Affordable Home Gyms\">--> <img decoding=\"async\" width=\"96\" height=\"96\" src=\"https:\/\/icrowdnewswire.com\/wp-content\/uploads\/2020\/12\/4990-1609275536.jpeg\" class=\"attachment-thumbnail size-thumbnail wp-post-image\" alt=\"AAJ Capital 2 Corp. \" loading=\"lazy\"> <\/a> <\/p>\n<p><strong>iCrowdNewswire <\/strong><span class=\"date\">&nbsp;&nbsp;Dec 30, 2020&nbsp;&nbsp;8:00 AM ET<\/span><\/p>\n<p><span>Key Highlights:<\/span><\/p>\n<ul>\n<li><span>TUT Fitness Group\u2019s convenient and accessible home gym equipment is meeting a growing consumer demand.<\/span><\/li>\n<li><span>At US$1,195, the TUT Trainer<\/span><span>TM<\/span><span> &amp; Rower is one of the most affordable, portable, &amp; user-friendly home fitness solutions in the market, with one of the smallest footprints at just 2 sq. ft and 32.2 lbs., requiring no power, and combining superior strength and cardio training performance when compared to other leading fitness equipment manufacturers.&nbsp;<\/span><\/li>\n<li><span>TUT\u2019s fitness-industry-first patented \u201cTime Under Tension\u201d technology targets every muscle group, allowing for more efficient workouts and a higher caloric burn.&nbsp;<\/span><\/li>\n<li><span>TUT enters into a financial advisory agreement with Canaccord Genuity Corp.&nbsp;<\/span><\/li>\n<\/ul>\n<p><strong>News Release \u2013 Vancouver, British Columbia \u2013 December 30, 2020:<\/strong><span> AAJ Capital 2 Corp. (TSX-V:AAJ.P) (\u201c<\/span><strong>AAJ<\/strong><span>\u201d or the \u201c<\/span><strong>Company<\/strong><span>\u201d) is pleased to announce that TUT Fitness Group Limited <\/span><span>(\u201c<\/span><strong>TUT<\/strong><span>\u201c)<\/span><span> has recently received a third container of inventory to fulfill outstanding customer orders, as it works to increase production for 2021.&nbsp;&nbsp;<\/span><\/p>\n<p><span>TUT has signed a manufacturing agreement with New Creation Works (NCW), a leading Hong Kong-based consumer products manufacturer. NCW\u2019s CEO, Bill Tang, commented on the agreement saying that \u201cWe are very excited about our new partnership with TUT Fitness and have already begun expanding our operations and production capabilities to accommodate TUT Fitness\u2019 expected future growth.\u201d TUT also placed an additional purchase order with NCW on December 2, 2020 for 2,000 additional units of the TUT Trainer<\/span><span>TM<\/span><span> &amp; Rower, plus accessories for delivery in the New Year.<\/span><\/p>\n<p><strong>Financial Advisory \u2013 Canaccord Genuity Corp.&nbsp;<\/strong><\/p>\n<p><span>AAJ also wishes to announce that TUT has entered into a Financial Advisory Agreement with Canaccord Genuity Corp. to support TUT\u2019s going-public transaction with AAJ in connection with the previously announced <\/span><span>letter of intent dated November 26, 2020 (\u201c<\/span><strong>LOI<\/strong><span>\u201c) regarding a proposed transaction for AAJ to acquire all of the issued and outstanding securities of TUT (the \u201c<\/span><strong>Transaction<\/strong><span>\u201c). AAJ will complete a <\/span><span>non-brokered concurrent $0.50 subscription-receipt financing (the <\/span><span>\u201c<\/span><strong>Private Placement<\/strong><span>\u201c<\/span><span>)<\/span><span> for gross proceeds of up to $3,000,000. The pricing of the subscription receipt financing assumes the proposed 2:1 consolidation of AAJ\u2019s outstanding securities in conjunction with the Transaction. Upon closing the Transaction, the subscription receipts will automatically convert into units of the resulting issuer \u2013 being one common share and one share purchase warrant exercisable for two years at $1.00. AAJ will also apply to list these warrants for trading on the TSX Venture Exchange.&nbsp;<\/span><\/p>\n<p><strong>About TUT Fitness Group Limited<\/strong><\/p>\n<p><span>TUT is a private British Columbia based company that has designed, patented and manufactured one of the world\u2019s smallest and most affordable high-performance home gyms. Incorporated in 2018, TUT is an emerging player in the connected Home Gym and Fit Tech hardware space, targeting the US$9.4B Global Home Exercise Equipment Market<\/span><span> and Online Fitness Market, expected to be US$30B by 2026<\/span><span>. At 32 pounds, TUT\u2019s flagship products, the TUT Trainer<\/span><span>TM<\/span><span> and Rower are lightweight and more affordable than other alternatives. TUT\u2019s proprietary \u201cTime Under Tension\u201d technology creates more load on the muscles than conventional training and cardio machines, while placing less pressure on joints and tendons. The net result is a higher caloric burn and a better workout than comparable machines.&nbsp;<\/span><\/p>\n<p><strong>Visit <\/strong><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3003891-1&amp;h=141491913&amp;u=http%3A%2F%2Fwww.thetuttrainer.com%2F&amp;a=www.thetuttrainer.com\"><strong>www.thetuttrainer.com<\/strong><\/a> <span>for more information.&nbsp;<\/span><span><br \/><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3003891-1&amp;h=2165641872&amp;u=https%3A%2F%2Fthetuttrainer.com%2F&amp;a=thetuttrainer.com\"><strong>thetuttrainer.com<\/strong><\/a><strong>&nbsp;<\/strong><\/span><br \/><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3003891-1&amp;h=3096874279&amp;u=https%3A%2F%2Fwww.instagram.com%2Ftuttrainer&amp;a=instagram.com%2Ftuttrainer\"><strong>instagram.com\/tuttrainer<\/strong><\/a><br \/><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3003891-1&amp;h=315177196&amp;u=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Ftutfitness&amp;a=linkedin.com%2Fcompany%2Ftutfitness\"><strong>linkedin.com\/company\/tutfitness<\/strong><\/a><\/p>\n<p><span>For further information please feel free to contact:<\/span><\/p>\n<p><a href=\"mailto:sbrar@thetuttrainer.com\"><strong>sbrar@thetuttrainer.com<\/strong><\/a><br \/><span>Satnam Brar<br \/><\/span><span>VP Corporate Development, TUT Fitness Group<\/span><\/p>\n<p><span>This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities described herein have not been registered under the United States Securities Act of 1933, as amended (the \u201cU.S. Securities Act\u201d), or any state securities law and may not be offered or sold in the \u201cUnited States\u201d, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration requirements is available.<\/span><\/p>\n<p><em><span>Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.<\/span><\/em><\/p>\n<p><strong>Forward-Looking Statements<\/strong><\/p>\n<p><span>Certain statements in this release are forward-looking statements or information, which include completion of the proposed Transaction and related financing, listing of warrants, development of technologies, customer demand for TUT\u2019s products, future plans, regulatory approvals and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as \u201cmay\u201d, \u201cexpect\u201d, \u201cestimate\u201d, \u201canticipate\u201d, \u201cintend\u201d, \u201cbelieve\u201d and \u201ccontinue\u201d or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, security threats, and dependence on key personnel. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for its products, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, failure to obtain regulatory approval, the continued availability of capital and financing, equipment failures, litigation, increase in operating costs, the impact of COVID-19 or other viruses and diseases on the Company\u2019s ability to operate, failure of counterparties to perform their contractual obligations, exchange rate fluctuations, government regulations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.<\/span><\/p>\n<p><span>There can be no assurance that the proposed Transaction or Concurrent Financing will be completed or, if completed, will be successful.<\/span><\/p>\n<p><span>&nbsp;<\/span><span>The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.<\/span><\/p>\n<p><h3> Contact Information: <\/h3>\n<\/p>\n<p>sbrar@thetuttrainer.com <\/p>\n<hr>\n<div class=\"viacrowd viaimg\"> <a href=\"https:\/\/icrowdnewswire.com\"><img decoding=\"async\" src=\"https:\/\/icrowdnewswire.com\/wp-content\/themes\/icrowdnewswire\/images\/post_via_image.png\" alt=\"iCrowdNewswire\"><\/a> <\/div>\n<p> <!-- Now display keyword(tags) if any, and Categories combined --> <\/p>\n<p><span id=\"keywords_post_single\"> <strong> Keywords:<\/strong>&nbsp;&nbsp;&nbsp;&nbsp;AAJ, TUT, Home Gym, Fitness, Affordable, Canaccord, Venture<\/span><\/p>\n<p> <!--<\/p>\n\n\n\n\n\n\n\n<p>\n\n\n\n<div class=\"btn btn-primary\"> <a href=\"\" target=\"_blank\" id=\"related_posts_url\" rel=\"noopener noreferrer\">View Related Posts<\/a> <\/div>\n\n\n\n--> <\/p>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/heymuse.com\/aaj-capital-2-corp-announces-that-tut-fitness-group-signs-manufacturing-agreement-to-secure-additional-inventory-and-production-capacity-to-deliver-high-performance-affordable-home-gyms\/\">AAJ Capital 2 Corp. Announces that TUT Fitness Group Signs Manufacturing Agreement to Secure Additional Inventory and Production Capacity to Deliver High Performance &amp; Affordable Home Gyms<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/heymuse.com\">Financial Market Brief<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>iCrowdNewswire &nbsp;&nbsp;Dec 30, 2020&nbsp;&nbsp;8:00 AM ET Key Highlights: TUT Fitness Group&rsquo;s convenient and accessible home gym equipment is meeting a growing consumer demand. At US$1,195, the TUT TrainerTM &amp; Rower is one of the most affordable, portable, &amp; user-friendly home fitness solutions in the market, with one of the smallest footprints at just 2 sq. [&hellip;]<\/p>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/heymuse.com\/aaj-capital-2-corp-announces-that-tut-fitness-group-signs-manufacturing-agreement-to-secure-additional-inventory-and-production-capacity-to-deliver-high-performance-affordable-home-gyms\/\">AAJ Capital 2 Corp. Announces that TUT Fitness Group Signs Manufacturing Agreement to Secure Additional Inventory and Production Capacity to Deliver High Performance &amp; Affordable Home Gyms<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/heymuse.com\/\">Financial Market Brief<\/a>.<\/p>\n<p> <a href=\"https:\/\/ipsnews.net\/business\/2020\/12\/30\/aaj-capital-2-corp-announces-that-tut-fitness-group-signs-manufacturing-agreement-to-secure-additional-inventory-and-production-capacity-to-deliver-high-performance-affordable-home-gyms\/\" class=\"more-link\">Continue Reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":249,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-97247","post","type-post","status-publish","format-standard","hentry","category-press-release"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>AAJ Capital 2 Corp. 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Announces that TUT Fitness Group Signs Manufacturing Agreement to Secure Additional Inventory and Production Capacity to Deliver High Performance &amp; Affordable Home Gyms - Business","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"http:\/\/ipsnews.net\/business\/2020\/12\/30\/aaj-capital-2-corp-announces-that-tut-fitness-group-signs-manufacturing-agreement-to-secure-additional-inventory-and-production-capacity-to-deliver-high-performance-affordable-home-gyms\/","og_locale":"en_US","og_type":"article","og_title":"AAJ Capital 2 Corp. Announces that TUT Fitness Group Signs Manufacturing Agreement to Secure Additional Inventory and Production Capacity to Deliver High Performance &amp; Affordable Home Gyms - Business","og_description":"iCrowdNewswire &nbsp;&nbsp;Dec 30, 2020&nbsp;&nbsp;8:00 AM ET Key Highlights: TUT Fitness Group&rsquo;s convenient and accessible home gym equipment is meeting a growing consumer demand. At US$1,195, the TUT TrainerTM &amp; Rower is one of the most affordable, portable, &amp; user-friendly home fitness solutions in the market, with one of the smallest footprints at just 2 sq. [&hellip;] The post AAJ Capital 2 Corp. Announces that TUT Fitness Group Signs Manufacturing Agreement to Secure Additional Inventory and Production Capacity to Deliver High Performance &amp; Affordable Home Gyms appeared first on Financial Market Brief. Continue Reading &rarr;","og_url":"http:\/\/ipsnews.net\/business\/2020\/12\/30\/aaj-capital-2-corp-announces-that-tut-fitness-group-signs-manufacturing-agreement-to-secure-additional-inventory-and-production-capacity-to-deliver-high-performance-affordable-home-gyms\/","og_site_name":"Business","article_published_time":"2020-12-30T18:00:00+00:00","og_image":[{"url":"https:\/\/icrowdnewswire.com\/wp-content\/uploads\/2020\/12\/4990-1609275536.jpeg","type":"","width":"","height":""}],"author":"PressRelease","twitter_card":"summary_large_image","twitter_misc":{"Written by":"PressRelease","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"http:\/\/ipsnews.net\/business\/2020\/12\/30\/aaj-capital-2-corp-announces-that-tut-fitness-group-signs-manufacturing-agreement-to-secure-additional-inventory-and-production-capacity-to-deliver-high-performance-affordable-home-gyms\/","url":"http:\/\/ipsnews.net\/business\/2020\/12\/30\/aaj-capital-2-corp-announces-that-tut-fitness-group-signs-manufacturing-agreement-to-secure-additional-inventory-and-production-capacity-to-deliver-high-performance-affordable-home-gyms\/","name":"AAJ Capital 2 Corp. 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