SOURCE: Ludwig Enterprises, Inc.

May 03, 2016 09:46 ET

Ludwig Enterprises, Inc. Announces New Acquisition Target

POMPANO BEACH, FL--(Marketwired - May 3, 2016) - Ludwig Enterprises, Inc. (OTC PINK: LUDG) Board of Directors is pleased to announce a new direction for the company. The company is currently in the process of recruiting a new and expanded management team. Ludwig has executed a Memorandum of Understanding to acquire a Mortgage Services company pending the completion of due diligence and state license transfer. This process is expected to take approximately 90 days. The Mortgage Services Company is a full service FHA licensed mortgage bank, licensed in ten states and the District of Columbia. The Mortgage Services Company began operations in January of 2007. Ludwig intends for this to be a new direction and beginning for the company. The FHA license held by the mortgage services company is very valuable towards growing Ludwig's future and expansion into the financial services arena. Ludwig management will be updating shareholders as this transaction progresses.

About Ludwig Enterprises, Inc.

Ludwig Enterprises, Inc. has been an innovative technology company. At this time Ludwig is endeavoring to change course and enter the Financial Services industry. The Board of Directors believes this course change to be in the best interest of all shareholders. The changes proposed by the board are contemplated to enhance shareholder value. The proposed changes are not planned to significantly water or dilute current shareholder equity. The Board believes this proposed market shift will benefit the long term goals of the company and enhance shareholder value.

SAFE HARBOR

Forward-looking statements made in this release are made pursuant to the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements made by Ludwig Enterprises, Inc. are not a guarantee of future performance. This news release includes forward-looking statements, including with respect to the future level of business for the parties. These statements are necessarily subject to risk and uncertainty. Actual results could differ materially from those projected in these forward-looking statements as a result of certain risk factors that could cause results to differ materially from estimated results. Management cautions that all statements as to future results of operations are necessarily subject to risks, uncertainties and events that may be beyond the control of Ludwig Enterprises, Inc. and no assurance can be given that such results will be achieved. Potential risks and uncertainties include, but are not limited to, the ability to procure, properly price, retain and successfully complete.

Contact Information

  • CONTACT:
    Ludwig Enterprises, Inc.
    Investor Relations
    Howard Isaac
    562-987-4939
    HQ@ludwigent.com