HRDN .0001 Acquisition and Merger
LLC with its DC Brands Green Investors, LLC Consulting Subsidiary.
PR NEWSWIRE 9:54 AM ET 9/8/2014
Symbol Last Price Change
HRDN 0.0001up 0 (0%)
QUOTES AS OF 09:31:12 AM ET 09/05/2014
DENVER , Sept. 8, 2014 /PRNewswire/ -- DC Brands International, Inc.(HRDN) ("DC Brands(HRDN)" or the "Company"
is very excited to announce that it has signed a binding letter of intent to acquire Lotus MMJ Consulting, LLC, ("Lotus" a Colorado LLC. The new combined entity will be branded Lotus Consulting. Lotus is owned and managed by Erik Santus and Hung Nguyen who are also founders, owners and managers of the Lotus Medical, LLC who operate a MMJ dispensary in Downtown Denver. The consummation of the merger is subject to certain closing conditions, including the negotiation of a definitive agreement.
DC Brands (HRDN) has agreed to purchase Lotus for 1,000 shares of Series E Convertible Preferred Stock and a twenty percent (20%) non-dilutive Class A Membership Interest in DC Brands Green Investors. Erik Santus will be the new president and CEO of Lotus Consulting and Bob Armstrong will continue as CFO. Lotus Medical has agreed to engage the services of Lotus Consulting to provide Lotus Medical with accounting, payroll, cash flow management, and financial reporting,
Lotus MMJ Consulting currently has 4 clients in four different states. The projected gross revenue from the new, combined entity is expected to be in excess of $1 million in 2015.
DC Brands (HRDN) has committed to provide a $200,000 revolving loan to Lotus Consulting for working capital.
Bob Armstrong , DC Brands'
HRDN) CEO and CFO stated, "We are very excited about this deal. I believe that Partnering with executives who have started and grown one of the premier Colorado MMJ dispensary operations and then started their consulting business because people across the country began reaching out to them, will be invaluable to the success of this venture. Another benefit to the consulting operation is the 'first look' at many new products and operations that may provide future investment opportunities for DC and Lotus Consulting Group."
DC Brands (HRDN) intends to immediately begin work on a new corporate website that will provide our investors information on our activities as well as all of our past filings, press releases and communications. Please go to http://lotuscannabis.com/ to see the Lotus Medical website and learn about the premier MMJ dispensary in Colorado.
About DC Brands International, Inc.(HRDN)
DC Brands International (HRDN), a publicly traded company under the ticker symbol (HRDN). On April 4, 2014, the Company announced that it intended to become a service provider to fully licensed Colorado medical and recreational marijuana businesses.
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The Company intends for the forward-looking statements to be covered by the safe harbor provisions for forward-looking statements. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," or variations of such words are intended to identify such forward-looking statements. The forward-looking statements are based on current expectations, estimates and projections made by management and include statements regarding the Company's consummation of the merger, its projected revenue, the value of the partnership and intended new website. All forward-looking statements in this press release are made as of the date of this press release, and the Company assumes no obligation to update these forward-looking statements other than as required by law. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by any forward-looking statements, such as our ability to successfully negotiate a definitive agreement for the merger, close the merger transaction, our ability to fund and y implement our new corporate plan, our ability to benefit from the merger and the contribution of the Lotus executives and the continued rapid growth of the local Colorado marijuana industry, that our financial projections are materially different from actual results, and the risk factors discussed in the Business and Management's Discussion and Analysis sections in our Quarterly Reports on Form 10-Q, Annual Reports on Form 10-K and Current Reports on Form 8-K. Copies of these filings are available at www.sec.gov
SOURCE DC Brands International, Inc.(HRDN)
LLC with its DC Brands Green Investors, LLC Consulting Subsidiary.
PR NEWSWIRE 9:54 AM ET 9/8/2014
Symbol Last Price Change
HRDN 0.0001up 0 (0%)
QUOTES AS OF 09:31:12 AM ET 09/05/2014
DENVER , Sept. 8, 2014 /PRNewswire/ -- DC Brands International, Inc.(HRDN) ("DC Brands(HRDN)" or the "Company"
is very excited to announce that it has signed a binding letter of intent to acquire Lotus MMJ Consulting, LLC, ("Lotus" a Colorado LLC. The new combined entity will be branded Lotus Consulting. Lotus is owned and managed by Erik Santus and Hung Nguyen who are also founders, owners and managers of the Lotus Medical, LLC who operate a MMJ dispensary in Downtown Denver. The consummation of the merger is subject to certain closing conditions, including the negotiation of a definitive agreement. DC Brands (HRDN) has agreed to purchase Lotus for 1,000 shares of Series E Convertible Preferred Stock and a twenty percent (20%) non-dilutive Class A Membership Interest in DC Brands Green Investors. Erik Santus will be the new president and CEO of Lotus Consulting and Bob Armstrong will continue as CFO. Lotus Medical has agreed to engage the services of Lotus Consulting to provide Lotus Medical with accounting, payroll, cash flow management, and financial reporting,
Lotus MMJ Consulting currently has 4 clients in four different states. The projected gross revenue from the new, combined entity is expected to be in excess of $1 million in 2015.
DC Brands (HRDN) has committed to provide a $200,000 revolving loan to Lotus Consulting for working capital.
Bob Armstrong , DC Brands'
HRDN) CEO and CFO stated, "We are very excited about this deal. I believe that Partnering with executives who have started and grown one of the premier Colorado MMJ dispensary operations and then started their consulting business because people across the country began reaching out to them, will be invaluable to the success of this venture. Another benefit to the consulting operation is the 'first look' at many new products and operations that may provide future investment opportunities for DC and Lotus Consulting Group." DC Brands (HRDN) intends to immediately begin work on a new corporate website that will provide our investors information on our activities as well as all of our past filings, press releases and communications. Please go to http://lotuscannabis.com/ to see the Lotus Medical website and learn about the premier MMJ dispensary in Colorado.
About DC Brands International, Inc.(HRDN)
DC Brands International (HRDN), a publicly traded company under the ticker symbol (HRDN). On April 4, 2014, the Company announced that it intended to become a service provider to fully licensed Colorado medical and recreational marijuana businesses.
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The Company intends for the forward-looking statements to be covered by the safe harbor provisions for forward-looking statements. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," or variations of such words are intended to identify such forward-looking statements. The forward-looking statements are based on current expectations, estimates and projections made by management and include statements regarding the Company's consummation of the merger, its projected revenue, the value of the partnership and intended new website. All forward-looking statements in this press release are made as of the date of this press release, and the Company assumes no obligation to update these forward-looking statements other than as required by law. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by any forward-looking statements, such as our ability to successfully negotiate a definitive agreement for the merger, close the merger transaction, our ability to fund and y implement our new corporate plan, our ability to benefit from the merger and the contribution of the Lotus executives and the continued rapid growth of the local Colorado marijuana industry, that our financial projections are materially different from actual results, and the risk factors discussed in the Business and Management's Discussion and Analysis sections in our Quarterly Reports on Form 10-Q, Annual Reports on Form 10-K and Current Reports on Form 8-K. Copies of these filings are available at www.sec.gov
SOURCE DC Brands International, Inc.(HRDN)
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