Sports Pouch Beverage Company Provides Important Corporate Updates Regarding Corporate Combination with Glink Apps International and Recapitalization

Rhea-AI Summary

On June 2, 2021, Sports Pouch Beverage Company (SPBV) announced a Corporate Combination Agreement with Glink Apps International (GLINK). Under this agreement, GLINK shareholders will exchange shares for 91,082,073 new SPBV shares, following a 500-for-1 reverse stock split. SPBV will rebrand as Glink Arts Global Group and has set key action dates: Declaration Date (June 2), Record Date (June 24), and Effective Date (June 25). GLINK has engaged PHILUX Capital Advisors for corporate restructuring aimed at NASDAQ listing. Both companies expect this merger to enhance shareholder value.

Positive

• Corporate Combination Agreement aims to create shareholder value.
• SPBV's rebranding to Glink Arts Global Group presents new business opportunities.
• Engagement with PHILUX Capital Advisors indicates a structured plan for corporate restructuring and potential NASDAQ listing.

Negative

• Reverse stock split may lead to shareholder dilution.
• Uncertainty regarding the successful integration of both companies.

New York, June 02, 2021 (GLOBE NEWSWIRE) -- Sports Pouch Beverage Company, Inc., a Nevada corporation, (Other OTC: SPBV) today announced that the Company had signed a Corporate Combination Agreement with Glink Apps International, Inc., a Wyoming corporation (“GLINK”), whereby GLINK shareholders would exchange all of the issued and outstanding shares of GLINK for 91,082,073 shares of new SPBV common stock following a 500-for-1 reverse stock split of the current SPBV common shares. The Corporate Combination Agreement was approved by a majority of the shareholders of SPBV and the unanimous vote of its Board of Directors.

As part of the Corporate Combination Agreement, SPBV has changed its corporate name to “Glink Arts Global Group, Inc.” and is filing a Corporate Action Notice with FINRA to effectuate the afore-mentioned reverse split and apply for a new trading symbol.

In connection with the corporate combination plan, the Declaration Date for the referenced reverse stock split is set for June 02, 2021, the Record Date on June 24, 2021, the Effective Date on June 25, 2021, and the Payment Date on June 25, 2021, respectively. Effective June 25, 2021, every five hundred (500) shares of SPBV’s outstanding Common Stock, par value $0.0001 per share, issued and outstanding immediately prior to the Effective Date (the “Old Common Stock”) shall automatically and without action on the part of the record holder thereof be reclassified as and changed into one (1) share of the Company’s Common Stock (the “New Common Stock”), subject to the treatment of fractional share interests such that a record holder of the Old Common Stock shall receive, in lieu of any fraction of a share of the New Common Stock to which the record holder would otherwise be entitled, one full share, with no shareholder being reversed below 100 shares of New Common Stock which is a whole lot. In addition, each record holder of a certificate or certificates which immediately prior to the Effective Date represented outstanding shares of Old Common Stock (the “Old Certificates”, whether one or more) shall be entitled to receive, upon surrender of such Old Certificates to the Company’s transfer agent Pacific Stock Transfer Company who will act as escrow agent (the “Escrow Agent”) for cancellation, a certificate or certificates (the “New Certificates”, whether one or more), or in book entry form with the Company’s transfer agent, representing the number of whole shares of the New Common Stock into which and for which the shares of the Old Common Stock formerly represented by such Old Certificates so surrendered, are reclassified under the terms hereof. From and after the Effective Date, Old Certificates shall represent only the right to receive New Certificates pursuant to the provisions hereof.

GLINK has retained PHILUX Capital Advisors, Inc. to assist the combined company with the corporate restructuring plan and the process to become a fully-reporting public company with the U.S. Securities and Exchange Commission, with an aim to upgrade onto the NASDAQ Stock Market in the future.

Mary Louise Arvizu, President of SPBV stated: “We believe it is in the best interest of the Company and our shareholders to combine Sports Pouch Beverage Co. with Glink Apps International to create value for shareholders of both companies.”

David Chinh Truong, Chairman and CEO of Glink Apps International, concurred: “We are pleased to enter this pivotal relationship with SPBV and intend to utilize the combined company as a platform to grow our business on a larger scale and bring significant benefits for our shareholders in the long term.”

About Glink Apps International

Glink Apps International, Inc. a Wyoming company, creates, sells, and distributes high quality art paintings. We provide a system to connect customers with service providers who deliver specific services. Our products and services include coffee shops which will feature art and coffee products in one place as well as Apps that provide services for entertainment, organizing music concerts, modeling events, online dating, entertainment competitions, songwriting, artwork, actors and actresses, plumbing, dentists, handyman services, employment, mechanics, painters, construction workers, etc. Websites: https://glinkglobal.com, https://Glinkart.com.

Safe Harbor Act and Forward-looking Statements

This news release contains “forward-looking statements” pursuant to the “safe-harbor” provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may,” “future,” “plan” or “planned,” “will” or “should,” “expected,” “anticipates,” “draft,” “eventually” or “projected,” which are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements as a result of various factors.

Contact:
Sports Pouch Beverage Co., Inc. (nka Glink Arts Global Group, Inc.)
Steve Truong, VP
714-702-3200
glinkartsglobal@gmail.com

FAQ

What is the Corporate Combination Agreement announced by SPBV?

SPBV signed a Corporate Combination Agreement with GLINK, where GLINK shareholders will exchange shares for new SPBV common stock following a reverse stock split.

When will the reverse stock split for SPBV occur?

The reverse stock split for SPBV is set to be effective on June 25, 2021.

What is SPBV's new company name after the merger?

After the merger, SPBV will change its name to Glink Arts Global Group, Inc.

Who is assisting with SPBV's corporate restructuring?

PHILUX Capital Advisors, Inc. has been retained to assist with SPBV's corporate restructuring and plans for NASDAQ listing.

How many shares will GLINK shareholders receive in the merger?

GLINK shareholders will receive 91,082,073 shares of new SPBV common stock as part of the merger.