In the news release, DAVC, Who Recently Signed Merger Agreement With Smart Travel Tech Samsara Luggage Inc., Announces No Reverse Common Stock Split is Planned in the Foreseeable Future, issued 30-May-2019 by Samsara Luggage Inc. over PR Newswire, we are advised by the company that the release was originally issued inadvertently with erroneous information. The complete, corrected release follows:
DAVC, Who Recently Signed Merger Agreement With Smart Travel Tech Samsara Luggage Inc., Announces No Reverse Common Stock Split is Planned as Part of the Merger
Board of Directors of Darkstar Ventures Inc. (DAVC) and Samsara Luggage smart travel tech company - set to merge with and into Darkstar - is pleased to announce that the company will not be conducting a reverse stock split of its common shares
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NEW YORK, May 30, 2019 /PRNewswire/ -- DAVC announced today, following the recent merger agreement signed between DAVC and Samsara Luggage Inc., that its board of directors has decided to increase its authorized capital offered to the public and not to conduct a reverse common stock split as part of the merger transaction.
Ms. Atara Dzikowski, Samsara's Co-Founder and CEO, and Mr. Abraham Bengio, DAVC CEO, stated:
"We are pleased to announce, in response to shareholder inquiries, that DAVC will not be conducting a reverse stock split in the merger transaction. We plan to focus on leveraging Samsara smart travel tech to increase revenues and profitability and to enhance value for all our shareholders. We plan to take full advantage of tapping into the fast growing smart travel industry out there, estimated at billions of dollars, and turn into tangible business all the opportunities made possible by our recent merger into the smart travel tech industry.
We wish to thank all our shareholders for their patience and continued support throughout this process and look forward to share our success with many new investors."
About Samsara Luggage
Samsara recently launched its global sales via Amazon worldwide and is one of the few smart luggage companies that meet new airline regulations.
Samsara Luggage is dedicated to combining technology, design and material within the travel industry, integrating Internet of Things (IoT) and smart features in its products.
Utilizing cutting edge technology and design, Samsara Luggage provides products that maintain a high-commitment to quality.
Certain matters discussed in this press release may be forward-looking statements. Such matters involve risks and uncertainties that may cause actual results to differ materially, including, without limitation, the following: changes in economic conditions; general competitive factors; the company's success in obtaining new customers; the company's ability to execute its business model and strategic plans; the company's success in integrating acquired entities and assets, and all the risks and related information described from time to time in the company's filings with the Securities and Exchange Commission ("SEC"), including the financial statements and related information contained in the company's Annual Report on Form 10-K and interim Quarterly Reports on Form 10-Q. The company assumes no obligation to update these forward-looking statements.
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