NutriPure Beverages has signed a letter of intent to acquire XND Technologies.

Under the terms of the agreement, management of both companies will remain intact and Steve Nickolas will remain as chairman and CEO of the subsidiary, NutriPure said today (4 July).

NutriPure's CEO, Kenyatto Jones, said: "We are very pleased to announce that we are in the final stages of completing the restructuring of our relationship with XND Technologies. All parties believe that this is a vastly superior arrangement that will allow us to quickly move forward with the planned rollout of our Nu2O product line while simultaneously pursuing additional opportunities and income streams."

XND will continue to focus its efforts on "formulating, developing and bringing to market scientifically enhanced beverages" while NutriPure's management team will focus on funding and supporting XND's efforts, securing additional markets for XND's products, and expanding the company's product lines into additional related areas, NutriPure said.

Kenyatto Jones was appointed NutriPure Beverages CEO and chairman last month. Jones succeeded Luke Zouvas, who resigned to resume his position as the company's legal counsel.