ATLANTA, April 12, 2017 (GLOBE NEWSWIRE) -- Incumaker, Inc. (OTC Pink:QMKR) announced today that its wholly owned subsidiary, Eastern Starr Biotech, Inc., has acquired CEN Biotech, Inc..
CEN Biotech, Inc. (“CEN”) and its global ventures will continue to live on through a new entity, Eastern Starr Biotech Inc. (“Eastern Starr, Inc.”). At its helm will be Joseph Byrne, as its Chief Executive Officer.
Specifically, CEN has entered into a forward triangular merger with Eastern Starr the wholly owned subsidiary of Incumaker, Inc. created specifically for the purpose of acquiring CEN Biotech, Inc. and accomplished as a stock for stock transaction pursuant to IRS Code Section 368(a)(2)(D). Incumaker, Inc. is a publicly traded company trading on the OTC markets. Eastern Starr will continue CEN’s business purpose seeking to expand it further into the global market.
As consideration (compensation) for the acquisition of CEN, Incumaker shall transfer 100,000,000 shares of its voting common stock, which will be disbursed amongst CEN shareholders on a proportionate basis. Eastern Starr Biotech, Inc. will acquire all of the assets of CEN, including Tesla Digital and its patents, and all of its stock which shall be retired. This merger is in the best interests of both entities and its shareholders, and the executives at Incumaker will continue to lend valuable insight into the future.