DRNK Enters Final Negotiations of Two Acquisitions - Retires 54 Billion of Common Shares
November 14 2016 - 8:54AM
On November 1, 2016, NOHO, Inc. (OTCQB:DRNK), a Wyoming corporation
(the “Company”) announced the following:
The Company has negotiated letters of intent to
acquire the assets two companies:
- Essential Marketing Systems, LLC, of Scottsdale,
Arizona
- ChoiceAdz.com, Inc., operating as
BizConnect360.com, of Yorba Linda, California.
ChoiceAdz.com has already done $350,000 in revenue
in 2016 and is operating profitably. Its projected revenue
for 2017 is well beyond $1,800,000.
These companies presently operate in the
advertising technology space and the acquisitions will expand the
Company’s product lines to offer customers a bundled suite of
advertising and business services from a streamlined and direct
platform.
These acquisitions are anticipated to be completed
by December 15, 2016. These acquisitions will be achieved by
using the newly issued preferred shares and there will be no
dilution to the existing common shareholders.
The 54 billion shares of common stock exchanged by
NOHO in the share exchange agreement with Media360 Licensing, Inc.
on September 9, 2016, shall be retired and reissued as preferred
shares on a ratio basis consistent with the share exchange
agreement. In order for the Company to convert the newly
issued preferred shares, a filing will be required.
Expansion of Cannabis Advertising
Platform
Based on the results of the proven concept in
Colorado, the Company is expanding its Cannabis advertising
platform to all states where recreational Cannabis is permitted
under state law.
NOHO, Inc., CEO David Mersky stated: "These are
exciting times for the company. Our strategy for growth will see us
continue making revenue producing acquisitions. In keeping with our
plans to expand within the cannabis sector we have started due
diligence on several acquisition candidates. We look forward to
announcing updates as developments occur."
The Company has authorized its counsel to
effectuate a name change from NOHO, Inc. to IMBUTEK Corporation,
seeking to trade under the new proposed symbol of “IMTK”, or if not
available then “IUTK’ or “IBTK.” This change is intended to
more accurately reflect the nature of the Company’s core
advertising technology business. Until that process is
completed, the stock will continue to trade under its current
symbol: DRNK.
Further, pursuant to the Spin-Off Agreement with
Purple Investment Group, Inc. dated September 9, 2016, the
2,609,527,445 shares belonging to Dolce B Investments have been
transferred to NOHO as collateral and a guarantee of Purple
Investment Group, Inc.’s assumption of liabilities of NOHO, until
such time as those liabilities are satisfied and no longer pose a
contingent risk to NOHO.
About NOHO, Inc.
NOHO Gold Premium and Functional Lifestyle beverage
is setting the standard for beverages that not only taste great,
but also serves a functional purpose. The 8.4 oz can has a
light, refreshing flavor and can be used as a healthy alternative
to high sugar sodas and juices. With only 6 grams of sugar
and 30 calories, it proves that healthy can taste good.
For additional information on NOHO please
visit www.nohodrink.com.
Cautionary Note Regarding Forward-Looking
Statements.
This press release contains statements that constitute
forward-looking statements within the meaning of Section 27A
of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These statements
appear in a number of places in this release and include all
statements that are not statements of historical fact regarding the
intent, belief or current expectations of the Noho, Inc. (the
“Company”), its directors or its officers with respect to, among
other things: (i) financing plans; (ii) trends affecting its
financial condition or results of operations; (iii) growth
strategy and operating strategy. The words “may,” “would,”
“will,” “expect,” “estimate,” “can,” “believe,” “potential”
and similar expressions and variations thereof are intended to
identify forward-looking statements. 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, and
actual results may differ materially from those projected in the
forward looking statements as a result of various factors. 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 the Company's control and
which could, and likely will, materially affect actual results,
levels of activity, performance or achievements. The Company
assumes 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. Important factors that could cause actual
results to differ materially from the company's expectations
include, but are not limited to, those factors that are disclosed
under the heading "Risk Factors" and elsewhere in documents filed
by the company from time to time with the United States Securities
and Exchange Commission and other regulatory authorities.
Investor/Media Contact:
Phillip Sugarman
Investor Relations Partners
818-280-6800
psugarman@irpartnersinc.com
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