Crio Inc. Goes Public Through Reverse Merger With Wiless Controls Inc.
May 19 2014 - 8:30AM
Marketwired
Crio Inc. Goes Public Through Reverse Merger With Wiless Controls
Inc.
MONTREAL, QUEBEC--(Marketwired - May 19, 2014) - Wiless Controls
Inc. (OTCQB:WILS) is pleased to announce that it has concluded a
reverse merger agreement with Crio Inc.(http://www.criobru.com/) of
Lindon, UT. Under the terms of the agreement, Crio Inc. will
acquire 75% of the Company's outstanding equity through a share
exchange, as well as gain operational control of the Company.
Wiless will spin-off its past operations in order for Crio to be
able to concentrate on its business plan.
"Access to the public market will completely change the dynamic
of our company," said Nick Hanson, Crio Chairman and Co-CEO.
"Although Crio has grown exponentially since its inception just a
few of years ago, it has done so strictly with internal funds and
its own cash flow. Easier access to capital should push our growth
to new heights, enabling us to fill the existing demand and
accelerate our marketing push."
"This change of control will give our shareholders access to the
reward that we no longer could foresee with our former business
plan," said Michel St-Pierre, CEO of Wiless. "Crio's acclaimed
product, its past record of growth and the quality of its
management all but assures us that."
About Crio Inc.
Crio Inc. was built around a revolutionary new product created
by Dr. Eric Durtschi - brewed cocoa - globally recognized as a
healthy alternative to coffee. Crio is the first company to
introduce brewed cocoa to traditional retail channels - grocery
stores, coffee shops, online stores - and has established wholesale
and distributor relationships worldwide. Crio looks to capitalize
on the untapped market of brewed cocoa and its other products, as
the first alternative to coffee and tea in the $62 Billion U.S.
market.
Mission Statement
Crio Inc., a Utah corporation incorporated on October 12, 2010,
was formed to exploit innovations to the cocoa brewing process
developed by its founders and to create and develop a market for a
healthy alternative beverage to coffee and tea.
FORWARD-LOOKING-STATEMENT: Except for factual statements made
herein, the information contained in this press release consists of
forward-looking statements that involve risks and uncertainties,
including the effect of changing economic conditions, competition
within the credit and security industry, customer acceptance of
products and other risks and uncertainties. Such forward-looking
statements are not guarantees of performance, Wiless Controls Inc.
and Crio Inc. results could differ materially from those contained
in such statements. These forward-looking statements speak only as
of the date of this release, and the companies undertakes no
obligation to publicly update any forward-looking statements to
reflect new information, events or circumstances after the date of
this release.
Eric DurtschiPresident &
Foundereric@criobru.com1.800.844.4010Nick HansonCo-CEO and
Chairmannick@criobru.com1.800.844.4010Justin
ElyCo-CEOjustin@criobru.com1.800.844.4010