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HUDSON AND GRANDE RESCIND THEIR ACQUISITION OF HALL OF FAME BEVERAGES, INC.
Feb 06, 2014
OTC Disclosure & News Service
Rochester, NY -
ROCHESTER, NEW YORK, February 6, 2014. (OTC Disclosure and News Service) Following careful consideration and evaluation, and, after further post-closing due-diligence on Hall of Fame Beverages, Inc. (and its lawful predecessors), Michael P. Grande and Randolph S. Hudson regret to announce that they, through their lawful designees, must rescind the transaction with Hall of Fame's principal shareholder regarding their ownership in Hall of Fame.
Consequently, Hall of Fame will not be a company under the aegis of the Hudson and Grande group of companies. Any shareholder of Hall of Fame, or any shareholder or investor of any other Hudson and Grande-controlled company, who subscribed to, or requested, the shares offered under that certain private placement memorandum may either (a) cancel their subscription, (b) withdraw their request for a subscription or for a copy of the private placement memorandum, or (c) submit a further request for additional information pertaining to this matter from either Mr. Hudson or Mr. Grande. Hudson and Grande will be revising the private placement memorandum to reflect the change attributed to their rescission of the Hall of Fame transaction.
This announcement by Mr. Hudson and Mr. Grande asserts no wrongdoing on the part of Hall of Fame, its principal shareholders, officers, and directors. It is merely an expression on the part of Mr. Hudson and Mr. Grande to rescind their prior acquisition of the controlling interest in Hall of Fame for reasons that are their own. The existing shareholders of Hall of Fame should not form any unfounded conclusions as to the adequacy or sufficiency of their investments in Hall of Fame, as none should be drawn as the result of Mr. Hudson and Mr. Grande's actions in this regard. Hall of Fame's shareholders should not draw any negative inference against Hall of Fame, its officers, directors, and shareholders as the result of Mr. Hudson and Mr. Grande's decision in this matter.
Mr. Grande and Mr. Hudson have established a specific e-mail address for their shareholder's to address their concerns, the address for which is hfbgrescission@mail.com. (Due to the anticipated volume of requests expected to be delivered to this address, inquiries may not be answered for up to 10 (ten) business days.) The concerns of shareholders outside of the Hudson and Grande group of companies that cannot be addressed by The Hudson and Grande Organization will be forwarded, accordingly, to Hall of Fame's management.
Mr. Grande said, "We hope to be able to preserve the relationship between Mr. [Larry] Johnson, Jim Brown, and others, as to Mr. Johnson's line of beverages, specifically "Grand Ma Ma's Sweet Tea" and with the manufacture and distribution of the company's "Atomic Dogg" energy drink and related products; however, Randy [Hudson] and I must be practical by accepting the fact that certain elements of ANY transaction that are subject to OUR ultimate [fiscal and regulatory] responsibility and subsequent liability must be handled prudently and with sagacity. While we do not discredit the [former] principal shareholder, or any shareholder, officer, director, or consultant, of or to Hall of Fame by our action in this specific regard, in good conscience to Hudson and Grande's non-Hall of Fame shareholders, we cannot continue in this transaction."
Mr. Hudson added, "The good news from all of this is that I think Alex Johnson (Hall of Fame's President and CEO) is a brilliant individual, and I know that Mike and I would enjoy working with him on some of our other projects, should he be willing to continue in the positions we offered to him prior to the rescission. Mike and I are certain that he did not have a hand in the company's former acts and activities; specifically, those that caused us to rescind the transaction. We are eager for him to join our team in other ways."
(Any statements made by Randy Hudson and Mike Grande in this announcement were made based on identifiable and publicly available information. Mr. Grande and Mr. Hudson, for themselves and behalf of the senior executive management of the other companies under their common control, seek safe harbor for any forward-looking statement in this announcement, as such safe harbor is permitted by the Private Securities Litigation Reform Act of 1995.)
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