EAST RUTHERFORD, N.J., Feb. 14, 2013 (GLOBE NEWSWIRE) -- Mascot Properties, Inc., a Nevada corporation (OTCQB:MSCT) ("Mascot" or the "Company"), is pleased to inform shareholders and investors that on January 24, 2013, the Company, Mascot Properties Acquisition Corp, a Delaware corporation and wholly-owned subsidiary of the Company ("Merger Sub"), MamaMancini's, Inc., ("MamaMancini's") and David Dreslin, entered into an Acquisition Agreement and Plan of Merger (the "Agreement") pursuant to which the Merger Sub was merged with and into MamaMancini's, with MamaMancini's surviving as a wholly-owned subsidiary of Mascot (the "Merger"). The Company acquired, through a reverse triangular merger, all of the outstanding capital stock of MamaMancini's in exchange for issuing MamaMancini's shareholders (the "MamaMancini's Shareholders"), pro-rata, a total of 20,054,000 shares of the Company's common stock. As a result of the Merger, MamaMancini's Shareholders became the majority shareholders of the Company.
The Board of Directors and management team are committed to creating value for all shareholders through the successful execution of its business strategy. The Company is undergoing various strategic initiatives to reach its goals, including, but not limited to, changing its corporate name and symbol to more aptly reflect the business of MamaMancini's. Further updates will be provided to stockholders as appropriate. For more detailed information on the Merger, investors and stockholders are encouraged to read the Company's most recent filing of its Current Report on Form 8-K, obtainable free of charge at the Securities and Exchange Commission's website, www.sec.gov.
The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.