VeganNation Completes Merger into a Public Company
SIPUP (SPUP) has successfully closed its merger with VeganNation, making it a wholly owned subsidiary. This merger aims to create a unique global sustainable ecosystem focused on vegan products. The platform seeks to foster a community-centric economy, enabling users to trade in sustainable goods and services.
VeganNation's vision extends beyond food, encompassing fashion and home goods, and it aspires to significantly impact the global food chain. A disclosure document will be filed under Form 8-K, detailing VeganNation's operations and financials.
- Merger positions SIPUP as a pioneer in the sustainable vegan market.
- Creation of a community-driven economy encouraging sustainable consumption.
- Potential to impact the global food chain positively.
- Integration challenges of merging operations may arise.
- Dependence on capital raising to execute business plans is a risk.
- Market reception of the business plan remains uncertain.
VeganNation to become the first global publicly traded sustainable ecosystem
Tel Aviv, Israel, Sept. 30, 2021 (GLOBE NEWSWIRE) -- SIPUP (OTCPINK: SPUP) today announced the closing of the previously reported Stock Exchange Agreement VeganNation Services Ltd. an Israeli company and the VeganNation equity holders, pursuant to which VeganNation became a wholly owned subsidiary of SIPUP.
VeganNation is building a vegan ecosystem, which we believe is the first of its kind. The goal is to create a vibrant and thriving community-based economy where millions of international citizens, small business owners, manufacturers and distributors will all trade goods and services in a way that will better themselves and their surroundings.
The digital platform is the heart of VeganNation’s work and the source for global sustainable economic growth. The platform is designed to encourage individuals to consume sustainable products and to be environmentally conscious. We believe that the global success of this endeavor will bring the necessary winds of change and will positively impact the global food chain.
The plant-based economy is not limited to only meat-substitute products, but rather spans a wide array of products from fashion, cosmetics to home goods and utilities.
Isaac Thomas, founder and Chairman of VeganNation and CEO of SIPUP, said: “Merging into a public company is the initial milestone for our company and for our investors and we are proud to be part of this breakthrough. We truly believe that the ecosystem we’re building will enhance the livelihood of millions of small vegan business owners and customers around the world, uniting under a shared community as the global impact of the climate crisis become more evident, it is imperative to have a sustainable vegan option for the planet and for future generations. As a publicly traded company and a pioneer in the industry, we plan to be a significant player in building a sustainable eco-system”
As required, SIPUP will be filing its disclosure document relating to the merger with VeganNation in a current report under Form 8-K within on or before October 6, 2021, which will include important information about the business of VeganNation and its audited financial of VeganNation for the last two completed fiscal years. You are encouraged to review the 8-K.
Forward-Looking Statements
This press release contains forward-looking statements including statements regarding the closing of the merger and the future revenues, profits and growth following the acquisition closing. The words "believe", "may", "estimate", "continue", "anticipate", "intend", "should", "plan", "could", "target", "potential", "is likely", "will", "expect", and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include our ability to integrate the operations of the acquired entities and manage the combined entity, the success of our business plan, market reception of our business plan, our ability to raise the capital needed to realize our business plan, our ability to meet the challenges posed by the new coronavirus pandemic and how the pandemic will affect our ability to raise the capital needed for to realize our business plan, our ability to retain needed personnel and our ability to compete against companies with much larger resources. Further information on our risk factors is contained in our filings with the Securities and Exchange Commission, including the current report on Form 8-K relating to the merger to be filed by us on or prior to October 6, 2021. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
Investor Relations Contact:
Miri Segal
MS-IR LLC
917-607-8654
msegal@ms-ir.com
FAQ
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