Greenfield Farms and Carmela's Pizzeria Moving toward Closing Completion and Set Accounting Closing
Greenfield Farms and Carmela's Pizzeria Moving toward Closing Completion and Set Accounting Closing Date
CENTENNIAL, Colo.--(BUSINESS WIRE)-- Greenfield Farms Food, Inc. ("Greenfield" or the "Company") (OTC/QB: GRAS) announced today that both the Company and Carmela's Pizzeria are in the final stage of completing the closing for the acquisition transaction between the two companies. Each party is diligently working to complete the documentation and regulatory filings necessary to effectuate the closing and have set an accounting closing date of July 31, 2013. When finalized, the closing will complete the acquisition of 100% of the equity interests of Carmela's in a newly created wholly-owned operating subsidiary of Greenfield in exchange for shares of Greenfield stock and warrants.
Greenfield President Henry Fong said, "We are down to preparation and filing of the final documents as we have agreed on all of the cogent deal points. Setting the accounting closing date is an important step in the process and allows us to concentrate on getting the necessary documents finalized and filed."
Carmela's Chairman Ron Heineman said, "Things are moving a little slower than anticipated as the limited staff of both companies concentrate not only on running our businesses, but also on closing this transaction. We are working expeditiously on the final closing documents and expect to have everything wrapped shortly. We are excited to be in the final stages of closing and all of the benefits completing the transaction will afford Carmela's."
As recently announced, the Company and Carmela's Pizzeria are in the final stages of closing the acquisition of 100% of the equity interests of Carmela's in a newly created wholly-owned operating subsidiary of Greenfield in exchange for shares of Greenfield stock and warrants.
About Carmela's Pizzeria
Carmela's presently has three Dayton, Ohio area locations offering authentic New York style pizza with a fourth scheduled to open in September 2013. Carmela's offers a full service menu for Dine In, Carry out and Delivery as well as pizza buffets in select stores. Carmela's has been noted in Dayton Daily News as one of "The Best Pizzerias" in Dayton. Visit the Carmela's website at: www.carmelasohio.com.
About Greenfield Farms Food, Inc.
The Company is a publicly-traded nominally capitalized producer and marketer of "grassfed" beef supplying a North Carolina based grocer on a very limited basis. The Company is currently seeking other business opportunities to both expand its business and seek greater capitalization in an effort to maximize shareholder value.
Safe Harbor for Forward-looking Statements
This news release may contain forward-looking statements that are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. While these statements are made to convey to the public the company's progress, business opportunities and growth prospects, they are based on management's current beliefs and assumptions as to future events. However, since the company's operations and business prospects are always subject to risk and uncertainties, the forward-looking events and circumstances discussed in this news release might not occur, and actual results could differ materially from those described, anticipated or implied. For a more complete discussion of such risks and uncertainties, please refer to the company's filings with the Securities and Exchange Commission.
Greenfield Farms Food, Inc.
Thomas B. Olson, 303-796-8940
Ron Heineman, 513-602-3268
Chairman & CEO
KEYWORDS: United States North America Colorado
The article Greenfield Farms and Carmela's Pizzeria Moving toward Closing Completion and Set Accounting Closing Date originally appeared on Fool.com.
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