Saturday, October 22, 2011 1:14:38 PM
Kensington Energy Corporation (OTCMarkets-KNGC) has entered into a Letter of Intent to acquire Nature’s Prime Organic Foods, Inc., a Minnesota corporation based in suburban Minneapolis. Nature’s Prime is an established 4-year old organic foods retail business, and we believe this acquisition, which will be effected through a reverse merger, will add considerable value to our shareholders. Nature’s Prime is one of the fastest-growing private companies in the organic foods industry. We have completed our due diligence for this transaction, and this merger is scheduled to close on or before November 30, 2011.
Nature’s Prime is well positioned to be a leader in the Organic Food Movement which has been growing annually in the high double digits for more than a decade. Nature’s Prime has well-established affiliations with key online marketing companies including Groupon, Living Social and Facebook. Nature’s Prime has been experiencing rapid growth, particularly through online website retail sales which have increased 300% in the first quarter of 2011 compared to the first quarter of 2010.
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