Greenfield Farms and Carmela's Pizzeria Moving toward Closing Completion and Set Accounting Closing Date
August 01 2013 - 7:00AM
Business Wire
Greenfield Farms Food, Inc. ("Greenfield" or the "Company")
(OTC/QB: GRAS) announced today that both the Company and Carmela's
Pizzeria are in the final stage of completing the closing for the
acquisition transaction between the two companies. Each party is
diligently working to complete the documentation and regulatory
filings necessary to effectuate the closing and have set an
accounting closing date of July 31, 2013. When finalized, the
closing will complete the acquisition of 100% of the equity
interests of Carmela's in a newly created wholly-owned operating
subsidiary of Greenfield in exchange for shares of Greenfield stock
and warrants.
Greenfield President Henry Fong said, "We are down to
preparation and filing of the final documents as we have agreed on
all of the cogent deal points. Setting the accounting closing date
is an important step in the process and allows us to concentrate on
getting the necessary documents finalized and filed."
Carmela's Chairman Ron Heineman said, "Things are moving a
little slower than anticipated as the limited staff of both
companies concentrate not only on running our businesses, but also
on closing this transaction. We are working expeditiously on the
final closing documents and expect to have everything wrapped
shortly. We are excited to be in the final stages of closing and
all of the benefits completing the transaction will afford
Carmela's."
As recently announced, the Company and Carmela’s Pizzeria are in
the final stages of closing the acquisition of 100% of the equity
interests of Carmela's in a newly created wholly-owned operating
subsidiary of Greenfield in exchange for shares of Greenfield stock
and warrants.
About Carmela's Pizzeria
Carmela's presently has three Dayton, Ohio area locations
offering authentic New York style pizza with a fourth scheduled to
open in September 2013. Carmela's offers a full service menu for
Dine In, Carry out and Delivery as well as pizza buffets in select
stores. Carmela’s has been noted in Dayton Daily News as one of
“The Best Pizzerias” in Dayton. Visit the Carmela's website at:
www.carmelasohio.com.
About Greenfield Farms Food,
Inc.
The Company is a publicly-traded nominally capitalized producer
and marketer of "grassfed" beef supplying a North Carolina based
grocer on a very limited basis. The Company is currently seeking
other business opportunities to both expand its business and seek
greater capitalization in an effort to maximize shareholder
value.
Safe Harbor for Forward-looking Statements
This news release may contain forward-looking statements that
are made pursuant to the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995. While these statements
are made to convey to the public the company’s progress, business
opportunities and growth prospects, they are based on management’s
current beliefs and assumptions as to future events. However, since
the company’s operations and business prospects are always subject
to risk and uncertainties, the forward-looking events and
circumstances discussed in this news release might not occur, and
actual results could differ materially from those described,
anticipated or implied. For a more complete discussion of such
risks and uncertainties, please refer to the company's filings with
the Securities and Exchange Commission.
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