Benzinga | Jun 4, 2021 12:44PM EDT

Creatd Acquires Majority Stake in Health Food Provider Plant Camp

* Creatd Inc (NASDAQ:CRTD) acquired a 56% additional stake in kid-friendly health food company Plant Camp, LLC, via its subsidiary, Creatd Partners. Post the latest buy, Creatd boasts 89% ownership.

* The financial terms of the transaction were not disclosed.

* Creatd Partners will control Plant Camp's operations as the majority owner. Additionally, Creatd will recognize Plant Camp's revenue in the financial statements.

* Creatd estimates $1 million in annual revenues from Plant Camp.

* Creatd held $2.8 million in cash and equivalents as of Mar. 31, 2021.

* Price action: CRTD shares traded lower by 5.06% at $3.75 on the last check Friday.