Gaithersburg, MD, July 19, 2018 (GLOBE NEWSWIRE) -- RealBiz Media Group, Inc. (OTCPink: RBIZ) (the “Company”), is pleased to announce that the Financial Industry Regulatory Authority (“FINRA”) has approved the spin-off of the Company’s real estate division into NestBuilder.com Corp. (“NestBuilder”). The record date for the distribution (the “Distribution”) of shares of common stock of NestBuilder to holders of securities of the Company is July 2, 2018, and the ex-dividend date for the Distribution is July 20, 2018. Stockholders of the Company will receive one free trading share of common stock of NestBuilder for each 900 shares of common stock of the Company held by such stockholders. The Distribution is anticipated to occur on July 31, 2018. “We are glad that we will be able to distinguish ourselves as solely an international food company, an important distinction for our customers, partners and stockholders,” said Anshu Bhatnagar, Chief Executive Officer of the Company. “Even with our small footprint, we believe that we are one of the only publicly-traded food companies of our kind operating in the Middle East, North Africa and the Gulf Cooperation Council countries of the United Arab Emirates, Oman, Bahrain, Qatar, Kingdom of Saudi Arabia and Kuwait, providing us with a competitive advantage in the region.” Alex Aliksanyan, CEO of NestBuilder, added: “We are pleased that the long-awaited spin-off of the real estate assets of RealBiz will finally occur. In 2016 we envisioned two companies emerging from RealBiz, one an international food business and the second a real estate digital competitor. While the regulatory environment proved to be a challenge, we are glad to finally see our strategy come to fruition. The management of Nestbuilder.com is looking forward to competing in the real estate space under our new name and with a new vision for the future.” About RealBiz Media Group, Inc. RealBiz Media Group, Inc. consists of two business segments: an international food segment which is operated through the Company’s wholly-owned subsidiary, Verus Foods, Inc., that sells products to customers worldwide and a real estate digital media and technology segment. After the Distribution as detailed above, the Company’s business will consist of only its international food segment.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project” and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, we can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results to differ materially from those in the forward-looking statements and the trading price for our common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in the Company’s filings with the U.S. Securities and Exchange Commission. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
Contacts
Investor Contact: MKR Group Inc. Todd Kehrli or Mark Forney
rbiz@mkr-group.com
