Scepter Holdings, Inc. Completes Merger With IP Motor Sports
LAS VEGAS, NV -- (Marketwired) -- 11/30/17 -- Scepter Holdings, Inc. (OTC PINK: BRZL) announced today that it has completed the merger with IP Motor Sports Inc., a high tech engine modification company that sells high powered engines and cars. This merger is the first of many as the Company continues to expand its initiatives in the fuel efficiency and optimization automotive sectors. In this merger, IP Motors Sports shareholders were paid five-hundred thousand ($500,000) in Scepter Holdings, Inc. preferred stock. The preferred stock holders will have the option to convert to common stock after one (1) year. Additionally Scepter Holdings, Inc. has assumed approximately five-hundred thousand ($500,000) in IP Motor Sports liabilities.
IP Motor Sports sells and distributes aftermarket engines and kits for high performance vehicles, in addition to custom fabrication for both foreign and domestic autos. Brett Bergeron, Master Builder at Insane Power LLC, has won 5 Builder of the Year Awards for his custom built engines and fabrication work, propelling him into becoming one of the most sought after builders in the half mile and power car racing industry. Mr. Bergeron's success has earned him a featured spot on the Discovery Channel, showcasing a full documentary focusing on the racing industry and his craft. IP Motor Sports has an exclusive right to the technology developed in Insane Power LLC, a Nevada LLC, which holds multiple world records for engine performance, both in the automotive and nautical markets.
For more information on Scepter Holdings, Inc. please visit www.scepterholdingsincorporated.com.
This news release may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such statements are based upon our current expectations and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including economic slowdown affecting companies, our ability to successfully develop products, rapid change in our markets, changes in demand for our future products, legislative, regulatory and competitive developments and general economic conditions. These risks and uncertainties include, but are not limited to, risks and uncertainties discussed in Scepter Holdings filings with the Securities and Exchange Commission, which factors may be incorporated herein by reference. Forward-looking statements may be identified but not limited by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential," or "continue" and variations or similar expressions. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.
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Source: Scepter Holdings, Inc.