Beverly Hills Group, Inc. (OTCPK: BHGI) Announces Complete Resolution of Litigation
August 25 2016 - 9:20AM
InvestorsHub NewsWire
Beverly
Hills Group, Inc., Announces Complete Resolution of
Litigation
BEVERLY HILLS, CA
-- August 25, 2016 -- InvestorsHub NewsWire -- Beverly
Hills Group Inc. (OTCPK:
BHGI) is pleased to announce the Mikkin’s have withdrawn all
claims against the company and all defendants, in their entirety,
and have signed new lock-up / leak-out agreements restricting the
sale of their shares of company stock.
These critical
events, in addition to BHGI’s earlier settlement and new lock-up /
leak-out agreements with Ahmad Arfaania et al, will now free the
company from these legal encumbrances. The new lock-up /
leak-out agreements also provides an important safeguard for
shareholders.
BHGI can now
proceed as planned with the financing and corporate actions
necessary to complete the acquisitions of the businesses and assets
from Grupo Richard, and will be focusing on developing the
company’s diverse business opportunities.
Sincerely I
remain,
Jacob Thomas
Chairman of the Board
Beverly Hills
Group, Inc.
ABOUT BEVERLY HILLS
GROUP
Beverly Hills Group, Inc. is a multi-faceted
company, with current diverse investments in Mexico. These
investments consist of retail convenience stores, wholesale
distribution, construction, real estate development, banking and
financial services. Our objective is to grow through strategic
acquisitions, and to focus on increasing consumer awareness and
demand in the Mexican and Latin American markets. Once these
strategic acquisitions are procured and integrated, Beverly Hills
Group will provide investment capital, preeminent modern business
practices and best-in-class management, allowing these companies to
grow to their greatest potential.
FORWARD-LOOKING
STATEMENTS
This press
release may contain a number of forward-looking statements. Words,
and variations of words such as "expect," "goals," "plans,"
"believe," continue," "may," "will," and similar expressions are
intended to identify our forward-looking statements, including but
not limited to, our expectation for growth; benefits from
brand-building; cost savings; growth and margins.
These
forward-looking statements are subject to a number of risks and
uncertainties, many of which are beyond our control, which could
cause our actual results to differ materially from those indicated
in our forward-looking statements. Such factors include, but are
not limited to, continued volatility of, and sharp increase in,
costs, pricing actions, increased competition, risks from operating
internationally, continued consumer weakness, weakness in economic
conditions and tax law changes.
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