National Asset Recovery Corp Announces Memorandum of Understanding to Merge with GreetEat LLC

Rhea-AI Summary

National Asset Recovery Corp. (OTC PINK: REPO) has announced a Memorandum of Understanding (MOU) dated March 10, 2023, to merge with GreetEat LLC, a tech company offering video conferencing and food delivery services. The merger will make GreetEat a wholly owned subsidiary, pending a 60-day due diligence period and the signing of a definitive agreement. Completion requires regulatory approvals and stockholder consent from GreetEat. The transaction's success hinges on various key conditions, and forward-looking statements in the release highlight potential risks related to growth and competition.

Positive

• Strategic merger with GreetEat LLC may enhance service offerings by combining technology with food delivery.
• Potential market expansion into the food delivery and digital communication sector.

Negative

• Completion of the merger is contingent on several conditions, including due diligence and regulatory approvals.
• Risks associated with the integration process and market competition may impact future performance.

National Asset Recovery Corp. to merge with GreetEat LLC.

RENO, NV / ACCESSWIRE / March 28, 2023 / National Asset Recovery Corp. (OTC PINK:REPO) Is pleased to announce it has entered into a Memorandum of Understanding ("MOU") dated March 10, 2023 with GreetEat LLC pursuant to which the parties will complete a merger or some other form of business combination that will result in GreetEat LLC being a wholly owned subsidiary of the company. The terms of the MOU anticipate the parties will enter into a definitive agreement after a 60-day due diligence period is completed.

Greeteat LLC (http://www.GreetEat.com ) is a technology company that provides a service which combines video conferencing and food/drink delivery.

Completion of the Transaction is subject to a number of conditions, including but not limited to the following key conditions: execution of the Definitive Agreement; completion of mutually satisfactory due diligence; and receipt of all required regulatory, corporate and third party approvals, including the approval of the stockholders of GreetEat LLC. and the fulfilment of all applicable regulatory requirements and conditions necessary to complete the Transaction.

Forward-Looking Statements: This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future development activities and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with the Company's business and finances in general, including the ability to continue and manage its growth, competition, global economic conditions and other factors discussed in detail in the Company's periodic filings with the Securities and Exchange Commission.

Media Contact:

Vishal Patel / admin@greeteat.com

SOURCE: National Asset Recovery Corp.

View source version on accesswire.com:
https://www.accesswire.com/746171/National-Asset-Recovery-Corp-Announces-Memorandum-of-Understanding-to-Merge-with-GreetEat-LLC

FAQ

What is the purpose of the merger between National Asset Recovery Corp. and GreetEat LLC?

The merger aims to enhance service offerings by combining video conferencing with food and drink delivery.

When was the Memorandum of Understanding signed for the merger?

The Memorandum of Understanding was signed on March 10, 2023.

What are the next steps for the National Asset Recovery Corp. merger with GreetEat?

The next steps include a 60-day due diligence period, signing a definitive agreement, and obtaining necessary approvals.

What are the risks associated with the merger of REPO and GreetEat?

Risks include the need for regulatory approvals, potential market competition, and integration challenges.

How will the merger affect shareholders of National Asset Recovery Corp.?

The merger could lead to market expansion and enhanced service offerings, but also carries risks that could affect financial performance.