Sebastian River Holdings, Inc. SignsLetter of Intent to Acquire Novacab, Inc.; Appoint New Management
TORRANCE, CA – Sebastian River Holdings, Inc. (USOTC: SBRH) is pleased to announce that it has signed an agreement with Untex Management, Ltd., to acquire controlling interest in Novacab, Inc. (www.novacab.ca), an innovative energy tech company involved in a state-of-the-art thermal battery technology currently servicing contracts for IBM, Honeywell, Gaz Metro Plus, Siemens, Montreal Stock Exchange Tower, Transport Canada and L’Oreal, to name but a few.
“We feel this is a tremendous win for all involved,” states SBRH Director, Peter Matousek. “This is a seasoned company with active contracts and negotiations that should command significant shareholder value upon execution of the merger.”
Current officers and directors have agreed to resign allowing Novacab and their assigns to appoint new officers and directors alongside management to best effect their business plan toward long-term growth.
Novacab will be purchased with a combination of restricted common shares, preferred shares and the assignment of debt of Sebastian River Holdings, Inc. Execs from both companies are confident the merger can be completed in August, 2013.
More updates to come upon finalization of the agreement.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company’s current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company’s business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission and /or OTC Markets Disclosure and News Service. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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