GPOPlus+ Announces Lawsuit Settlement

Rhea-AI Summary

GPO Plus, Inc. (OTCQB: GPOX) announced the conclusion of a lawsuit filed against it by MNP Industries on August 5, 2020. The court ruled in favor of GPO Plus with a Summary Final Judgment on June 29, 2022. Despite an appeal by MNP, both parties settled, and the lawsuit has been dismissed with prejudice. GPO Plus aims to leverage Group Purchasing Organizations to provide savings to its members, thereby enhancing long-term shareholder value.

Positive

• The lawsuit with MNP Industries has been successfully resolved in favor of GPO Plus.
• Settlement of the lawsuit may eliminate legal uncertainties and associated costs, boosting investor confidence.

Negative

• None.

LAS VEGAS, NV , Oct. 24, 2022 (GLOBE NEWSWIRE) -- GPO Plus, Inc. (OTCQB: GPOX), a publicly traded company of diversified Group Purchasing Organizations (GPOs) uses the power of Group Purchasing to save businesses money, announced that the lawsuit filed against them by a competitor is over.

The lawsuit filed against GPO Plus by a competitor, MNP Industries, LLC on August 5, 2020 in Hernando County, Florida is over. On June 29, 2022, a Summary Final Judgment was entered in favor of GPO Plus and against MNP Industries, LLC on its Amended Complaint. On July 18, 2022, MNP Industries, LLC filed an appeal of the Summary Final Judgment entered against it. While the appeal was pending, the parties in the lawsuit entered into a settlement agreement and the lawsuit has been dismissed with prejudice.

About GPOPlus+ (GPOX)

Headquartered in Las Vegas, Nevada, GPOPlus+ (OTCQB: GPOX) is a publicly traded company of diversified industry-specific Group Purchasing Organizations (GPOs). Our Purpose is to create efficient GPOs and our Mission is to create value for our GPO Members, partners, and suppliers while creating long term shareholder value.

Our Mantra:
We Aggregate, Negotiate + Share!

• Aggregate - We aggregate the purchasing power of our Members.
• Negotiate - We leverage buying power to negotiate discounts.
• Share - We share the discounts with our Members and save them money.

For more information, please visit www.GPOPlus.com. To activate your free GPOX Investor Account at www.GPOPlus.com/ir.

Information About Forward-Looking Statements

This press release contains “forward-looking statements” that include statements regarding expected financial performance and growth information relating to future events. Forward-looking statements include statements with respect to beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond the control of the Company and its officers and managers, and which may cause actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by which, that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in, or suggested by, the forward-looking statements. Important factors that could cause these differences include, but are not limited to; inability to gain or maintain licenses, reliance on unaudited statements, the Company’s need for additional funding, governmental regulation of the cannabis industry, the impact of competitive products and pricing, the demand for the Company’s products, and other risks that are detailed from time-to-time in the Company’s filings with the United States Securities and Exchange Commission.  All statements other than statements of historical fact are statements that could be forward-looking statements. You can typically identify these forward-looking statements through use of words such as “may,” “will,” “can” “anticipate,” “assume,” “should,” “indicate,” “would,” “believe,” “contemplate,” “expect,” “seek,” “estimate,” “continue,” “plan,” “point to,” “project,” “predict,” “could,” “intend,” “target,” “potential,” and other similar words and expressions of the future. The Company expresses its expectations, beliefs and projections in good faith and believes that its expectations reflected in these forward-looking statements are based on reasonable assumptions. However, there is no assurance that these expectations, beliefs and projections will prove to have been correct. Such statements reflect the current views of the Company with respect to its operations and future events, and are subject to certain risks, uncertainties and assumptions relating to its proposed operations, including the risk factors set forth herein. Should one or more of these risks or uncertainties materialize or should the underlying assumptions prove incorrect, the Company’s actual results may vary significantly from those intended, anticipated, believed, estimated, expected or planned. In light of these risks, uncertainties and assumptions, any favorable forward-looking events discussed herein might not be realized and occur. The Company has no obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise. For a more detailed description of the risk factors and uncertainties affecting GPO Plus, Inc. GPOX, please refer to the Company’s recent Securities and Exchange Commission filings, which are available at www.sec.gov. 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.

Shareholder Success Team + Investor Relation Contacts:

Brett H. Pojunis, CEO
Email: ir@gpoplus.com  
Shareholder’s Line: 855.935.GPOX (4769)

Attachment

• GPO Plus, Inc. (OTCQB: GPOX), a publicly traded company of diversified Group Purchasing Organizations (GPOs) uses the power of Group Purchasing to save businesses money, announced that the lawsuit filed against them by a competitor is over

FAQ

What was the lawsuit against GPOX about?

The lawsuit was filed by MNP Industries against GPO Plus on August 5, 2020, but was resolved in favor of GPO Plus.

What does the dismissal with prejudice of the lawsuit mean for GPOX?

The dismissal with prejudice means that MNP Industries cannot file the same lawsuit against GPO Plus again in the future.

When was the summary judgment issued in favor of GPOX?

The summary judgment in favor of GPO Plus was issued on June 29, 2022.

How does the lawsuit resolution impact GPOX's business?

Resolving the lawsuit allows GPO Plus to focus on business growth without ongoing legal distractions.