Questions? +1 (202) 335-3939 Login
Trusted News Since 1995
A service for agriculture industry professionals · Thursday, March 28, 2024 · 699,447,148 Articles · 3+ Million Readers

GPDBs Major Creditors Cancel Indebtedness for Preferred Stock in Buying Collective Holdings Incorporated

/EINPresswire.com/ -- MT. PLEASANT, UT--(Marketwired - Sep 11, 2017) - Green PolkaDot Box (OTC PINK: GPDB) ("GPDB" or the "Company") announced today that its three largest creditors entered into agreements with the Company to retire $6,283,706 in indebtedness in exchange for the issuance of redeemable preferred shares by Buying Collective Holdings Incorporated, a privately held Delaware corporation ("BCHI"). The agreement by the creditors to cancel the outstanding indebtedness of GPDB in exchange for redeemable preferred shares from BCHI satisfies a major condition to the Asset Purchase Agreement entered into by the two companies earlier this year on February 22, 2017.

About GPDB

Green PolkaDot Box® is America's "first mover" online distributor of CLEAN foods -- direct to consumer -- through a disruptive Health Merchant® network comprised of hundreds of market influencers that reach over 45-million consumers. To learn more about GPDB's Health Merchant program go to www.greenpolkadotbox.com/healthmerchant

About BCHI: Buying Collective Holdings Incorporated, as its name implies, is focused on (1) building the Buying Collective of CLEAN food shoppers through the Health Merchant® network developed by and to be acquired from GPDB; (2) sourcing CLEAN foods at the lowest possible cost; and (3) selling CLEAN foods with direct, free delivery to households that are part of the Buying Collective.

Disclaimer Statement

This Press Release includes forward-looking statements. These forward-looking statements generally can be identified by phrases such as GPDB or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates," "Plans" or other words or phrases of similar import. Similarly, statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statement.

Contact:
Rod Smith
801 478 2500 ext. 1000
rsmith@greenpolkadotbox.com

Powered by EIN Presswire


EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.

Submit your press release