NEW YORK, NY--(Marketwired - Feb 3, 2017) - Clean Power Concepts Inc (OTC PINK: CPOW ) CEO Michael Shenher announced that the company has entered in an agreement with a consultant to assist him in pursuing a forward acquisition of a private company in the medical marijuana and or hemp field.
The Company already has taken steps to enhance its public disclosure on OTC Markets by attempting to go from a limited information sign to back to current in its filing obligations. Corporately, Clean Power Concepts Inc. is in the process of amending its Articles of Incorporation and Corporate Bylaws to create a series of Anti-Dilutive, Convertible Preferred Shares. The Company believes these securities would be attractive as currency to acquire these kinds of opportunities because the evaluation is not based on market conditions.
Clean Power Concepts Inc. CEO said, "We were in previous talks and were working to consummate a deal with a Company in the medical marijuana business, but we just couldn't come to terms due to several factors, one of which was the common stock we were going to issue. Now with the Preferred Stock we can do a deal which makes sense for all parties."
He further stated, "We have a team of very qualified professionals & consultants who have just started having preliminary talks with medical marijuana and hemp companies, and we think the conditions are much better to consummate a deal with the right candidate. The Company will update its stockholders as soon as its warranted, in the meantime building equity and value and anticipating growth in emerging sectors are what has driven us to this decision."
Safe Harbor Statement: This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E and or 27E of the Securities Exchange Act of 1934 that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements as to the future performance of the company and the risks and uncertainties detailed from time to time in reports filed by the company with the Securities and Exchange Commission.
Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, the company's ability to raise necessary financing, retention of key personnel, timely delivery of inventory from the company's contract manufacturers, timely product development, product acceptance, and the impact of competitive services and products, in addition to general economic risks and uncertainties.