Latest Zegarelli Group Intl (ZEGG) Headlines 20
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Posted On: 03/12/2014 6:04:24 AM
Latest Zegarelli Group Intl (ZEGG) Headlines
2050 Motors, Inc. to Go Public Through Transaction With Zegarelli Group International, Inc.
GlobeNewswire - Wed Feb 05, 5:00AM CST
Zegarelli Group International ("Zegarelli") (OTCBB:ZEGG), a blank check company, announced today it has entered into a Plan and Agreement of Reorganization (the "Acquisition Agreement") with 2050 Motors, Inc. ("2050 Motors") and certain stockholders of 2050 Motors, whereby Zegarelli will acquire all of the issued and outstanding shares of 2050 Motors common stock in exchange for 24,993,665 shares of Zegarelli common stock, and the 2050 Motors stockholders will become the majority owners of Zegarelli. In conjunction with this announcement, Zegarelli will file a Schedule 14F-1 with the U.S. Securities and Exchange Commission ("SEC") relating to the change in the majority of its board of directors to a group of directors designated by 2050 Motors. In accordance with the close of the transaction Zegarelli will change its name to 2050 Motors, Inc. and affect a reverse stock split of 1 for 4, reducing its total issued and outstanding shares to 5,562,084 shares prior to the exchange of shares with 2050 Motors. The close of the transaction is expected to take place around March 16, 2014.
2050 Motors, Inc. to Go Public Through Transaction With Zegarelli Group International, Inc.
GlobeNewswire - Wed Feb 05, 5:00AM CST
Zegarelli Group International ("Zegarelli") (OTCBB:ZEGG), a blank check company, announced today it has entered into a Plan and Agreement of Reorganization (the "Acquisition Agreement") with 2050 Motors, Inc. ("2050 Motors") and certain stockholders of 2050 Motors, whereby Zegarelli will acquire all of the issued and outstanding shares of 2050 Motors common stock in exchange for 24,993,665 shares of Zegarelli common stock, and the 2050 Motors stockholders will become the majority owners of Zegarelli. In conjunction with this announcement, Zegarelli will file a Schedule 14F-1 with the U.S. Securities and Exchange Commission ("SEC") relating to the change in the majority of its board of directors to a group of directors designated by 2050 Motors. In accordance with the close of the transaction Zegarelli will change its name to 2050 Motors, Inc. and affect a reverse stock split of 1 for 4, reducing its total issued and outstanding shares to 5,562,084 shares prior to the exchange of shares with 2050 Motors. The close of the transaction is expected to take place around March 16, 2014.
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