SOURCE: Latteno Food Corp.

November 07, 2013 17:38 ET

Latteno Receives All Cash Offer to Buyout Assets of Wholly-Owned Subsidiary Mekonza Corp.

Company Rejects Previously Announced $1,000,000 Convertible Debt Offer

SANTA ANA, CA--(Marketwired - Nov 7, 2013) - Latteno Food Corp. (OTC Pink: LATF) today announce that it has received several cash and stock offers to buy out its high revenue and profitable Mekonza or its assets. After several weeks of negotiation and due diligence, the Company's management has decided to accept the cash offer from a yet-to-be-announced publicly-listed food importer; and reject the previously announced funding commitment that involved convertible debt.

The offer, to acquire 100% assets of Mekonza including clients base, technology know-how and equipment, consists of $500,000 cash upfront plus trailing payments based on revenues performance and milestone reached. Letter of intent has been signed by both parties; However, Latteno management reserves the right to omit the name of the suitor until a Definitive Agreement has been signed.

CEO Thu Le comments: "We're very fortunate to receive such a generous and expedient offer. Our wholly-owned Mekonza has been getting quite a bit of buzz in the seafood community as of late. We have constant pursuers chasing after our high revenue/profitable Mekonza and now we've reached our decision to pursue with this high profile, publicly-traded entity which we will disclose shortly."

About Latteno Food Corp. (Latteno.com)

Latteno Food Corp. is an investment portfolio company that acquires food products, and medical marijuana company builds asset revenues and asset value through a model of continuous growth, income from or sale of its portfolio holdings, and product licensing or distribution agreements.

About Green Cannabis Collective Inc. (Green-Cannabis.com)

Southern California-owned and licensed medical marijuana dispensary and transporting. The specific purpose of this corporation is to collectively facilitate medical marijuana cultivation and transactions by and between qualified patient members of this corporation and/or primary caregiver members who have the oral or written approval or recommendation of a licensed physician, as permitted and authorized by the Compassionate Use Act of 1996 (Health and Safety Code section 11362.5) and the Medical Marijuana Program Act (Health and Safety Code sections 11362.7 - 11362.83).

About Valley Organics Inc. (ValleyOrganics.org)

Southern California-owned and licensed medical marijuana co-op and transporting. The specific purpose of this corporation is to collectively facilitate medical marijuana cultivation and transactions by and between qualified patient members of this corporation and/or primary caregiver members who have the oral or written approval or recommendation of a licensed physician, as permitted and authorized by the Compassionate Use Act of 1996 (Health and Safety Code section 11362.5) and the Medical Marijuana Program Act (Health and Safety Code sections 11362.7 - 11362.83).

About Mekonza Corp. (Mekonza-corp.com)
Headquartered in Southern California since 2006, Global Trading Group (GTG) started out as a luxury/exotic car exporter and eventually branched out into seafood importing which came about Mekonza Seafood. The variety of seafood products we offer has allowed us to be an innovator in product development. The diversity of our products allows us to be the next force-to-be-reckon-with in the seafood industry. Mekonza has grown from a small one-man operation to one of the West Coast's most innovative and well-equipped seafood importing and processing companies. With outstanding customer service as our secret sauce and key ingredient, we're on our way to be the industry's leader committed to achieve the highest possible standards in quality, service to our clients, suppliers and investors.

Safe Harbor Statement

This release contains forward-looking statements within the meaning of Section 27a of the Securities Act of 1933, as amended and Section 21e of the Securities and Exchange Act of 1934, as amended. Those statements include the intent, belief or current expectations of the company and its management team. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Accomplishing the strategy described herein is significantly dependent upon numerous factors, many that are not in management's control. Some of these factors include the ability of the company to raise sufficient capital, attract qualified management, attract new customers and effectively compete against similar companies.

Contact Information

  • Contact:

    Latteno Food Corp.
    Investor Relations
    (714) 382-6808
    info@latteno.com