ATLANTA, June 29, 2017 (GLOBE NEWSWIRE) -- INCUMAKER, INC. (OTC Pink:QMKR) has announced that the previously announced merger of CEN Biotech, Inc. with its subsidiary, Eastern Starr Biotech, Inc., has been terminated by CEN Biotech, Inc.
On June 29, 2017, CEN Biotech, Inc. filed an 8k in which it terminated the forward triangular merger agreement dated as of April 11, 2017 (the “Merger Agreement”) with Eastern Starr Biotech, Inc. (“Eastern”), the wholly owned subsidiary of Incumaker, Inc. (“Incumaker”). The Merger Agreement provided for a forward triangular merger with Eastern. Under the terms of the Merger Agreement, the stockholders of the Company would own 80% of Incumaker and Incumaker would own 100% of the Company. The Merger Agreement provided the right of either party to terminate the Merger Agreement if the merger was not consummated by a specified date.
Incumaker, Inc. (OTC Pink:QMKR) is a diversified holding company whose strategic plan is to acquire interests in young businesses, and provide financing, advice and guidance to assist them in realizing their potential. The company’s wholly owned subsidiary, Eastern Starr Biotech, is pursuing strategic acquisitions in the Cannabis industries. We continue to identify and evaluate other potential acquisitions that we believe will create shareholder value and return.
As a "penny stock" Company, within the meaning of federal and state securities law, Incumaker, Inc. may not avail itself of the Safe Harbor provisions as identified in the Private Securities Litigation Reform Act of 1995. However, Incumaker, Inc. provides the following disclaimer and warning to protect our shareholders, prospective investors and the public at large by alerting them to the risks and uncertainties involved with any investment, and the need to perform their own due diligence and assessment.
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future development activities, and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers.
Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with the Company's business and finances in general, including the ability to continue and manage its growth, competition, global economic conditions and other factors discussed in detail in the Company's periodic filings with the Security and Exchange Commission.
Contact: Incumaker Inc. Incumaker@gmail.com