LaunchPad Café Ltd. Announces Closing of Transaction with Ventana Biotech, Inc. (VNTA)

Rhea-AI Summary

Ventana Biotech (OTC:VNTA) has successfully completed its acquisition of LaunchPad Café Ltd., acquiring 100% of its shares in exchange for VNTA shares. New CEO Stephen Replin emphasized the importance of this transaction, highlighting immediate goals such as updating public financial information and achieving 'Yield Sign' status within two weeks. The company plans to reach 'Pink Current Reporting' by mid-August and anticipates a name change in the coming months. Ventana is focusing on acquisitions in the fintech and specialty finance sectors.

Positive

• Acquisition of LaunchPad Café Ltd. enhances VNTA's business portfolio.
• Immediate goals include achieving 'Yield Sign' status within two weeks.
• Plans to reach 'Pink Current Reporting' by mid-August.

Negative

• None.

DENVER, June 25, 2021 (GLOBE NEWSWIRE) -- LaunchPad Café Ltd. announces that it has closed its previously announced transaction with Ventana Biotech, Inc. (OTC:VNTA) pursuant to which VNTA has purchased 100% of LaunchPad’s shares in exchange for shares in VNTA.

Mr. Stephen Replin, new President and CEO of VNTA and President of LaunchPad Café said, “We are pleased to announce the closing of this important transaction for VNTA. We are now working to update the publicly available financial information for the VNTA on OTCMarkets.com The immediate goals are getting to ‘Yield Sign’ within the next two weeks and ‘Pink Current Reporting’ by mid-August. We also anticipate changing the Company’s name sometime in the coming months.”

About Ventana Biotech, Inc.:

Ventana Biotech, Inc. (OTC:VNTA) is a publicly traded Nevada company making acquisitions in the fintech and traditional specialty finance space.

About LaunchPad Café Ltd.:

LaunchPad Café, Ltd., a specialty finance Company, makes alternative funding available to entrepreneurs who are starting and growing businesses, and to those who have investment opportunities. In all cases, the two characteristics that are anticipated to be common among most borrowers from LaunchPad are that they are essentially “unbankable,” and the second is that they need to close on their funding quickly. Mr. Replin, CEO of LaunchPad Café Ltd. is the author of the book “Where to Go when The Bank Says No” -www.launchpadcafe.net.

Forward Looking Statements:

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are subject to uncertainty and may not come to fruition. Readers are cautioned not to place undue reliance on any forward-looking statement including statements that list numbers and dates.

Contact:
Stephen Replin, CEO
Stevereplin@launchpadcafe.net
303.916.3479

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2842695f-3568-44e8-b774-b2b787c8684e

FAQ

What acquisition did Ventana Biotech (VNTA) announce on June 25, 2021?

Ventana Biotech announced the acquisition of LaunchPad Café Ltd., acquiring 100% of its shares.

Who is the new CEO of Ventana Biotech after the acquisition?

Stephen Replin is the new President and CEO of Ventana Biotech.

What are Ventana Biotech's immediate goals following the acquisition?

The immediate goals include updating public financial information and achieving 'Yield Sign' status within two weeks.

When does Ventana Biotech plan to achieve 'Pink Current Reporting'?

Ventana Biotech aims to achieve 'Pink Current Reporting' by mid-August 2021.

What industry focus does Ventana Biotech have after the acquisition?

Ventana Biotech is focusing on acquisitions in the fintech and traditional specialty finance sectors.