SPOM - .02 - Merger news...
Authorized Shares 398,000,000 01/04/2019
Outstanding Shares 30,390,466 01/04/2019
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Float 8,590,466 01/04/2019 https://www.otcmarkets.com/stock/SPOM/news/SPO-Global-and-Gerpang-Healthcare-Group-Announce-Definitive-Merger-Agreement?id=253789
SPO Global and Gerpang Healthcare Group Announce Definitive Merger Agreement
TAMPA, Fla., Feb. 13, 2020 (GLOBE NEWSWIRE) -- SPO Global, Inc. (OTC Markets: SPOM) (the “Company”), is excited to announce the company has signed a definitive agreement to acquire Gerpang Healthcare Group (“Gerpang”) of Shandong, China.
Gerpang Healthcare Group (www.gerpanghealthcare.com), is located in Jinan Pharma Valley Industrial Park, High-tech District. It is an innovative technology-based private and high-tech enterprise. The main business scope of Gerpang includes bio-pharmaceutical R&D, development and sales of medical informatization software, medical high-tech introduction, production and sales of medical quality supplies, dietary supplement, medicine, as well as agents and sales of medical equipment supplies. Gerpang has a staff of over 220 people, more than 10 international and national patents, and an annual turnover of approximately RMB 1 billion.
In the past five years, Gerpang has established strategic partnerships with various universities in biomedicine in Toronto, Montreal, Boston, New York and Connecticut, and established a wide range of government resource management and business contacts. The relationships have resulted in multi-level investments in more than 20 projects.
The acquisition is scheduled to close no later than February 18, 2020. At the time of closing, all officers and directors of SPO Global will resign and will be replaced by the management of Gerpang. The Company will acquire 100% of the assets of Gerpang, and Gerpang shareholders will acquire common shares equal to 80% of the fully diluted shares of common stock of the Company post-merger. At the time of merger, the Company will have no more than $42,000 of accounts payable and $ 12,500 of convertible debt.
The Company’s CIO, Saeb Jannoun, stated “We are delighted to be working with the team at Gerpang Healthcare. The merger marks a very exciting and important point in the Company’s history. After a lot of discussion and information exchange, we feel that taking this next step is going to propel SPO Global and its shareholders forward in an extremely promising field. Gerpang targets areas in healthcare that are in very high demand.”
Gerpang’s President, Mr. Fengyou Lu stated: “We are looking forward to working with SPO Global team. We will do our best to make the company prosperous and stronger. Thank you all shareholders! ”
About SPO Global Inc. (OTC Markets: SPOM) is a diversified holding company whose strategy is to acquire interests in a range of profitable ventures.
Company Disclaimers: As a "penny stock" Company, within the meaning of federal and state securities law, SPO Global, Inc. may not avail itself of the Safe Harbor provisions as identified in the Private Securities Litigation Reform Act of 1995. However, SPO Global, Inc. provides the following disclaimer and warning to protect our shareholders, prospective investors and the public at large by alerting them to the risks and uncertainties involved with any investment, and the need to perform their own due diligence and assessment.
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future development activities and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with the Company's business and finances in general, including the ability to continue and manage its growth, competition, global economic conditions and other factors discussed in detail in the Company's periodic filings with the Securities and Exchange Commission.