SILVER SPRINGS, Nev. – Sweet Spot Games, Inc. announced Friday that it has signed a letter of intent for the merger of SWTP and Greenfield Farms Grassfed Beef (Greenfield).
As part of the acquisition deal, SWTP will designate a class of preferred stock known as "Series A Preferred" and issue 93,750 non-registered Series A Preferred shares to the shareholders of GREENFIELD. Each Series A Preferred share will have voting rights equal to 7,000 shares of common stock and shall be convertible to common stock after two years following the date of the closing of the merger. Following a 40-for-1 forward stock split, the shareholders of Greenfield will effectively receive the equivalent of 656,250,000 shares of common stock.
Greenfield is in the business of marketing grass-fed beef to supermarket chains and restaurant supply companies in the metropolitan area of Charlotte, N.C. It presently stocks approximately 45 Lowe's Food Stores along with several smaller chains. SWTP and GREENFIELD expect this merger to be beneficial to shareholders on both parties.
Greenfield's President, Larry Moore, said, "This merger gives us access to capital and visibility that we believe will allow us to grow the business at a considerably more rapid rate." Greenfield Farms Grassfed Beef Enterprise was incorporated in 2010 in North Carolina.
In the upcoming weeks, SWTP expects to change its name to Greenfield Farms Inc. to better reflect its current operations. The parties expect to sign a Plan of Exchange that will be available at the corporate offices for anyone that wishes a copy.
Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such proclamations about the Company's future expectations, including future revenues and earnings, technology effectiveness and all other forward-looking statements be subject to the safe harbors created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.
Source: Sweet Spot Games, Inc.
