Brownie's Marine acquires Sunrise Paddleboards for 42M shares in asset purchase

Brownie's Marine Group, Inc

Live Blue, a wholly-owned subsidiary, acquires substantially all assets of Sunrise Paddleboards LLC.
Purchase price: 42,000,000 shares of Brownie's common stock at $0.0044/share, based on June 30 closing price.
Sunrise Paddleboards provides paddleboarding and kayaking rentals, tours, retail, and training.
Shares issued in private placement exempt from registration under Section 4(a)(2) of the Securities Act.
Transaction structured as a tax-free reorganization under Section 368(a)(1)(C) of the Internal Revenue Code.

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