Green Cures & Botanical Distribution Inc. on Wednesday announced that it intends to merge with Green Cures Inc. ("GCI"), a California corporation and the major controlling shareholder of Green Cures. Green Cures management also announced that following the planned merger, the Company intends to continue its strategic focus on the development of concepts related to nutritional, sports, functional beverage, hemp-infused, and body care products.
GCI owns the brand Green Magic, a Registered Mark, and the brand Green Cures, a Registered Mark.
Green Cures management noted that becoming a fully reporting company has been one of management's top priorities, and if successful, management said it anticipates that this strategic merger will enable Green Cures to become fully a reporting company with the U.S. Securities and Exchange Commission, following which management plans to seek to have the Company's shares traded on the OTC QB or other over-the-counter market.
GCI management said it will seek during the next approximately two-and-a-half months to obtain the necessary audited financial statements. Green Cures management said it anticipates that at closing, GCI will transfer all of its intellectual property and registered marks to Green Cures.
Management of Green Cures said it plans to complete the merger and become fully reporting during the first quarter of the year 2015, after which the Company said it will seek to have its shares accepted for trading on the OTC QB or other over-the-counter market.