Clean Power Concepts CEO, Michael Shenher, Is Intent On Acquiring A Medical Marijuana Or Hemp Company As A Wholly Owned Subsidiary
NEW YORK, NY -- (Marketwired) -- 02/03/17 -- Clean Power Concepts Inc (OTC PINK: CPOW ) CEO Michael Shenher announced that the company has entered in an agreement with a consultant to assist him in pursuing a forward acquisition of a private company in the medical marijuana and or hemp field.
The Company already has taken steps to enhance its public disclosure on OTC Markets by attempting to go from a limited information sign to back to current in its filing obligations. Corporately, Clean Power Concepts Inc. is in the process of amending its Articles of Incorporation and Corporate Bylaws to create a series of Anti-Dilutive, Convertible Preferred Shares. The Company believes these securities would be attractive as currency to acquire these kinds of opportunities because the evaluation is not based on market conditions.
Clean Power Concepts Inc. CEO said, "We were in previous talks and were working to consummate a deal with a Company in the medical marijuana business, but we just couldn't come to terms due to several factors, one of which was the common stock we were going to issue. Now with the Preferred Stock we can do a deal which makes sense for all parties."
He further stated, "We have a team of very qualified professionals & consultants who have just started having preliminary talks with medical marijuana and hemp companies, and we think the conditions are much better to consummate a deal with the right candidate. The Company will update its stockholders as soon as its warranted, in the meantime building equity and value and anticipating growth in emerging sectors are what has driven us to this decision."
