SOURCE: Smash Solutions

Smash Solutions

SOURCE: Maxima Group Inc.

October 19, 2015 07:00 ET

SMASH Solutions Cancels Plans to Complete Merger With Maxima Group Inc.

SALT LAKE CITY, UT--(Marketwired - October 19, 2015) - SMASH Solutions, LLC, today announced that it has decided to cancel its plans to complete a merger transaction with Maxima Group Inc. (OTCBB: MXMG). No definitive transaction agreement between SMASH Solutions and Maxima Group had been signed at the time this decision was made.

In a press release issued by Smash Solutions, LLC on June 3, 2015, SMASH Solutions announced that it had acquired approximately 82% of Maxima Group Inc., a public shell company, and that it intended to pursue a merger or other transaction between the two companies. Since then, SMASH Solutions has conducted further due diligence and evaluation of the proposed merger, which resulted in a determination by the executive officers and governing board of managers of SMASH that the intended merger would likely not result in the achievement of capital raising goals underlying the transaction amid the current market conditions.

Mr. Jerry Ulrich, CEO of SMASH Solutions, LLC said, "The decision to cease merger discussions with Maxima Group Inc. is a direct outcome of the due diligence process put in place by the management team. As a result, our board of managers and executive officers do not believe that pursuing the merger with Maxima Group is in the best interest of SMASH Solutions, LLC and its Members, and have taken the appropriate action to terminate merger discussions and other plans related to the transaction with Maxima Group."

As a result, SMASH Solutions, LLC has entered into a definitive agreement to sell its controlling interest of 200,000,000 restricted shares in Maxima Group Inc. The sale of the shares is planned to occur over a period of time ending on November 25, 2015.

Furthermore, on October 16, 2015 Jerry Ulrich resigned effective immediately as sole Director and Chief Executive Officer, and Miroslaw Gorny was appointed as sole Director and Chief Executive Officer of Maxima Group Inc.

About SMASH Solutions, LLC.

SMASH Solutions, LLC is an innovation software solutions firm based in Salt Lake City, Utah. From premier CRM, to cutting-edge business tools, social and SEO solutions, SMASH is the comprehensive answer for any business looking to excel in the digital market. Learn more at http://www.smashsolutions.com.

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