Global Business Markets, Inc. Announces Focused Acquisition Campaign and Clarifies Acquisition of the Frulati Cafe and Bakery
Monday November 3, 8:32 am ET
LONGWOOD, Fla., Nov. 3 /PRNewswire-FirstCall/ -- Global Business Markets, Inc. (OTC Bulletin Board: GBMI - News), announced that it will continue to acquire companies in the Food and Beverage industry with an emphasis on Juice and Smoothie Bars in particular with an intent to facilitate a roll-up in that industry that will allow for these particular acquisitions to become franchise-able.
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Late last month the company announced its first acquisition of the Frulati Cafe and Bakery in Buffalo Grove, Illinois, since that announcement, the Company has not been able to complete its due diligence process and has converted the acquisition back over to an intent to purchase with a provision for another thirty to sixty day due diligence period to be in effect. This decision was made by company CEO, Edward Miers, following difficulties in final execution of the necessary documents at closing due to complications with a consultant, Suburban Capital Corporation of Addison, IL and its related associates, which were initially hired to solidify such transactions.
At this time the company is not commenting their intent to dissolve the consulting contract with Suburban Capital Corporation and its related associates, but has retained independent legal counsel to review past, present and future transactions and ensure proper compliance with all of the company's activities both from the corporate perspective and the regulatory perspective.
CEO, Edward Miers, said that "We believe that taking these precautions within the early stages of growing Global Business Markets, will only strengthen our core values and assist the company in becoming a more diligent and cohesive with regards to developing and growing underperforming companies.
About Global Business Markets Corporation
Global Business Markets Corporation is an entrepreneurial company focused on acquisitions and development of underperforming companies. The company is acquiring organizations that are in underserved markets that can benefit from the operational and managerial expertise that Global's executive and consulting staffs can provide. The company will launch its new corporate web site in mid to late November of this year. For more information please contact Edwards Miers, Chief Executive Officer, 3859 Wekiva Springs Road, Suite 302, Longwood, Florida 32779, phone 260.312.6789
This release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the company's current views with respect to future events that involve risks and uncertainties including uncertainties related to successful negotiations with other parties, oil and gas exploration risks, commodity price volatility, production levels, closing of transactions, capital availability, operational and other risks, uncertainties and factors described from time to time in the company's publicly available SEC reports. In light of these risks and uncertainties, the forward-looking events described in this release might not occur.
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Source: Global Business Markets, Inc.
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