Latteno Receives All Cash Offer to Buyout Assets of Wholly-Owned Subsidiary Mekonza Corp.
November 07 2013 - 5:38PM
Marketwired
Latteno Receives All Cash Offer to Buyout Assets of Wholly-Owned
Subsidiary Mekonza Corp.
Company Rejects Previously Announced $1,000,000 Convertible Debt
Offer
SANTA ANA, CA--(Marketwired - Nov 7, 2013) - Latteno Food Corp.
(OTC Pink: LATF) today announce that it has received several cash
and stock offers to buy out its high revenue and profitable Mekonza
or its assets. After several weeks of negotiation and due
diligence, the Company's management has decided to accept the cash
offer from a yet-to-be-announced publicly-listed food importer; and
reject the previously announced funding commitment that involved
convertible debt.
The offer, to acquire 100%
assets of Mekonza including clients base, technology know-how and
equipment, consists of $500,000 cash upfront plus trailing payments
based on revenues performance and milestone reached. Letter of
intent has been signed by both parties; However, Latteno management
reserves the right to omit the name of the suitor until a
Definitive Agreement has been signed.
CEO Thu Le comments: "We're
very fortunate to receive such a generous and expedient offer. Our
wholly-owned Mekonza has been getting quite a bit of buzz in the
seafood community as of late. We have constant pursuers chasing
after our high revenue/profitable Mekonza and now we've reached our
decision to pursue with this high profile, publicly-traded entity
which we will disclose shortly."
About Latteno Food Corp.
(Latteno.com)
Latteno Food Corp. is an
investment portfolio company that acquires food products, and
medical marijuana company builds asset revenues and asset value
through a model of continuous growth, income from or sale of its
portfolio holdings, and product licensing or distribution
agreements.
About Green Cannabis
Collective Inc. (Green-Cannabis.com)
Southern California-owned and
licensed medical marijuana dispensary and transporting. The
specific purpose of this corporation is to collectively facilitate
medical marijuana cultivation and transactions by and between
qualified patient members of this corporation and/or primary
caregiver members who have the oral or written approval or
recommendation of a licensed physician, as permitted and authorized
by the Compassionate Use Act of 1996 (Health and Safety Code
section 11362.5) and the Medical Marijuana Program Act (Health and
Safety Code sections 11362.7 - 11362.83).
About Valley Organics Inc.
(ValleyOrganics.org)
Southern California-owned and
licensed medical marijuana co-op and transporting. The specific
purpose of this corporation is to collectively facilitate medical
marijuana cultivation and transactions by and between qualified
patient members of this corporation and/or primary caregiver
members who have the oral or written approval or recommendation of
a licensed physician, as permitted and authorized by the
Compassionate Use Act of 1996 (Health and Safety Code section
11362.5) and the Medical Marijuana Program Act (Health and Safety
Code sections 11362.7 - 11362.83).
About Mekonza Corp.
(Mekonza-corp.com) Headquartered in Southern California since 2006,
Global Trading Group (GTG) started out as a luxury/exotic car
exporter and eventually branched out into seafood importing which
came about Mekonza Seafood. The variety of seafood products we
offer has allowed us to be an innovator in product development. The
diversity of our products allows us to be the next
force-to-be-reckon-with in the seafood industry. Mekonza has grown
from a small one-man operation to one of the West Coast's most
innovative and well-equipped seafood importing and processing
companies. With outstanding customer service as our secret sauce
and key ingredient, we're on our way to be the industry's leader
committed to achieve the highest possible standards in quality,
service to our clients, suppliers and investors.
Safe Harbor Statement
This release contains
forward-looking statements within the meaning of Section 27a of the
Securities Act of 1933, as amended and Section 21e of the
Securities and Exchange Act of 1934, as amended. Those statements
include the intent, belief or current expectations of the company
and its management team. Prospective investors are cautioned that
any such forward-looking statements are not guarantees of future
performance and involve risks and uncertainties, and that actual
results may differ materially from those projected in the
forward-looking statements as a result of various factors.
Accomplishing the strategy described herein is significantly
dependent upon numerous factors, many that are not in management's
control. Some of these factors include the ability of the company
to raise sufficient capital, attract qualified management, attract
new customers and effectively compete against similar
companies.
Contact: Latteno Food Corp. Investor Relations (714) 382-6808
info@latteno.com
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