Jeffs' Brands Provides Update Regarding Potential Acquisition of its U.S. Subsidiary, for an Approximate Valuation of USD $11.8 million to a Canadian Public Company

The previous letter of intent with a U.S. public company was terminated pursuant to its own terms and Jeffs’ Brands has entered into a new non-binding letter of intent to for the acquisition of its wholly-owned U.S. Subsidiary, Smart Repair Pro, and its approximately 49.1% ownership interest in SciSparc Nutraceuticals Inc., by a Canadian public company in exchange for an up to 90% equity (on a fully diluted basis) interest in such company