GPDBs Major Creditors Cancel Indebtedness for Preferred Stock in Buying Collective Holdings Incorporated
(firmenpresse) - MT. PLEASANT, UT -- (Marketwired) -- 09/11/17 -- Green PolkaDot Box (OTC PINK: GPDB) ("GPDB" or the "Company") announced today that its three largest creditors entered into agreements with the Company to retire $6,283,706 in indebtedness in exchange for the issuance of redeemable preferred shares by Buying Collective Holdings Incorporated, a privately held Delaware corporation ("BCHI"). The agreement by the creditors to cancel the outstanding indebtedness of GPDB in exchange for redeemable preferred shares from BCHI satisfies a major condition to the Asset Purchase Agreement entered into by the two companies earlier this year on February 22, 2017.
About GPDB
Green PolkaDot Box® is America''s "first mover" online distributor of CLEAN foods -- direct to consumer -- through a disruptive Health Merchant® network comprised of hundreds of market influencers that reach over 45-million consumers. To learn more about GPDB''s Health Merchant program go to
About BCHI: Buying Collective Holdings Incorporated, as its name implies, is focused on (1) building the Buying Collective of CLEAN food shoppers through the Health Merchant® network developed by and to be acquired from GPDB; (2) sourcing CLEAN foods at the lowest possible cost; and (3) selling CLEAN foods with direct, free delivery to households that are part of the Buying Collective.
Disclaimer Statement
This Press Release includes forward-looking statements. These forward-looking statements generally can be identified by phrases such as GPDB or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates," "Plans" or other words or phrases of similar import. Similarly, statements herein that describe the Company''s business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statement.
Contact:
Rod Smith
801 478 2500 ext. 1000
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Datum: 11.09.2017 - 13:07 Uhr
Sprache: Deutsch
News-ID 1520371
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