LAS VEGAS, Sept. 23, 2019 (GLOBE NEWSWIRE) -- via NetworkWire - 808 Renewable Energy Corporation (RNWR) today provides a business update regarding its recently rescinded merger agreement with Cool Events LLC, effective Aug. 28, 2019. The Company is now pursuing other acquisition targets or merger candidates to support its growth objectives.
As a result of the mutually negotiated rescindment, announced Sept. 20, the share structure of 808 Renewables has reverted back to the capital structure prior to the contemplated merger. Mr. William “Bill” Bossung is the sole officer and director of 808 Renewable Energy, with the full board of directors and management team resigning simultaneous to the rescindment.
“808 Renewable Energy is now focused on an effective acquisition search to identify a potential acquisition target that will add substantial shareholder value,” stated Bossung. “Because 808 Renewable Energy is not subject to any particular industry, we can freely peruse opportunities in technology, energy, media and other lucrative markets. The goal is to pursue an acquisition target that understands the strategic benefits available through being a public company.”
Cool Events, a Delaware Limited Liability Corporation, will continue as a private operating company executing and managing its event business.
About 808 Renewable Energy Corp.
808 Renewable Energy Corp. is focused on growth through the acquisition of and/or merger with privately held targets which potential to benefit from the public marketplace.
Forward Looking Statements
Statements contained in this press release may contain forward-looking statements. Any historical facts stated is faithfully represented as of the date these statements are released. Any expectations about the projected production are based on current projection and may substantially change under unforeseen events and/or circumstances in the future. The Company is not obliged to update the forward-looking statements provided for any events that occur or any circumstances that exist after the date this statement is published.