WEST PALM BEACH, FL - June 7, 2017 - InvestorsHub NewsWire -
Greenfield Farms Food, Inc. ("GRAS" or the "Company") (OTCPink:
GRAS) announced it has completed the Asset Purchase Agreement
with Noho, Inc. (OTC
Pink: NOHO) through Cherry Hill Financial, LLC.
Pursuant to the deal, Cherry Hill's membership interest was
acquired in exchange for 49% of GRAS' common stock. As the first of
a series of anticipated transactions, the model places NOHO in
control of the board of directors of the target.
The agreement requires GRAS to divest itself of its prior
operations and bring in a new staff of licensed brokers and support
personnel to begin marketing its pre-paid life insurance program to
employees of staffing companies throughout the country. Ronald
Heineman, GRAS' CEO will remain in place and rely on his years of
experience in the staffing industry to access nearly 24,000
employees for enrollments.
The insurance program will pair employee bases with target
companies under a co-employment relationship and offer employees
life insurance as a 401(k) alternative, providing pre-paid coverage
for up to three years.
David Mersky, NOHO, Inc.'s CEO, stated, "We have finally put all
the pieces together to complete the acquisition of GRAS so we can
begin to put the operations in place to start selling policies. It
is a highly specialized and niche insurance offering that requires
very particular components. We've got the secret sauce."
GRAS' shares will be booked corporately in NOHO's investment
account.
About Greenfield Farms Food, Inc.
Greenfield is a publicly-traded nominally capitalized company
operating through its wholly-owned subsidiary Carmela's Pizzeria
CO, Inc. through the Carmela's Pizzeria Dayton restaurant locations
that include pizza buffets, alcohol service, delivery and carry-out
depending on the location.
Safe Harbor for Forward-looking
Statements
This news release may contain "forward-looking statements" that
are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. While these statements
are made to convey to the public the company's progress, business
opportunities and growth prospects, they are based on managements
current beliefs and assumptions as to future events. However, since
the company's operations and business prospects are always subject
to risk and uncertainties, the forward-looking events and
circumstances discussed in this news release might not occur, and
actual results could differ materially from those described,
anticipated or implied. For a more complete discussion of such
risks and uncertainties, please refer to the company's filings with
the Securities and Exchange Commission.
Contact Information:
Greenfield Farms Food, Inc.
513-602-3268
