Gourmet Herb Growers Inc. Announces Signing of Letter of Intent
SALT LAKE CITY -- Gourmet Herb Growers Inc. (OTCBB:GMHB) announced today that it has entered into a Letter of Intent to engage in a reverse-merger with NewSight Corp., a privately held corporation with its principal headquarters located in New York City and with subsidiary offices in Jena, Germany; see www.newsight.com.
The proposed merger is subject to numerous conditions and will involve a change in stockholder control of GMHB, change of management, change of corporate name, change of corporate headquarters and other significant matters. The proposed merger is expected to involve a 4.5625 to 1 forward stock split of the currently outstanding shares of common stock of GMHB. Subject to the conditions precedent, including certain funding requirements, the merger is proposed to be completed in the next couple of months.
NewSight Corp. is a world pioneer in dynamic visual solutions in the media, advertising and technology industries. NewSight consists of NewSight Media Solutions, which markets customizable, retail-based narrowcast networks of 2D and 3D digital displays which fulfill the demand for high impact and dynamic visibility in the retail world. Newsight also operates Newsight Technologies, which offers unique and proprietary glasses-free 3D TV technology and its exclusive autostereoscopic 3D for commercial applications in many industries. NewSight introduced the world's largest 3D media projection display in the form of a 180-inch wall at the 2005 World Exposition in Aichi, Japan. Newsight's unique technologies are supported by many U.S. and global patents.
This release includes forward-looking statements. Such statements involve risks and uncertainties which could cause actual results to differ materially from those set forth herein.
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