World Poker Store Inc. Completes Documentary Filings for Merger with Genuine Marketing Group Inc.
World Poker Store Inc. (OTC: WPKS) has finalized its merger with Genuine Marketing Group Inc. following necessary state certifications. The merger, effective July 15, 2022, will transition GMG into a wholly owned subsidiary of WPKS, with GMG shareholders receiving one share of WPKS for each GMG share they own, resulting in them holding 90% of the combined entity. Additionally, the company will undergo a reverse stock split and change its name to Genuine Marketing Group Inc., while increasing its authorized shares to 750 million common and 50 million preferred shares.
- Merger with Genuine Marketing Group Inc. could enhance market position.
- Transformation into a retail and consumer-focused marketing entity with innovative technology integration.
- Partnership with IBM for blockchain technology enhances product authentication and consumer engagement.
- The reverse stock split may lead to share dilution for existing shareholders.
- GMG shareholders will control 90% of the merged company, potentially reducing WPKS's existing shareholder influence.
MINNEAPOLIS, June 22, 2022 /PRNewswire/ -- World Poker Store Inc. (OTC: WPKS) (the "Company") has completed all official filings with the respective Secretaries of State of Minnesota and Nevada to approve and certify its pending merger with Genuine Marketing Group Inc., a Minnesota corporation based in suburban Minneapolis, which merger will be effective on July 15, 2022.
On June 16, 2022, the Company was issued a Certificate of Merger from the Secretary of State of Minnesota which included a Plan and Articles of Merger which will result in Genuine Marketing Group, Inc., a Minnesota corporation ("GMG") becoming a wholly owned subsidiary of the Company. Upon the Effective Date of this merger, all pre-merger shareholders of GMG will receive one share of common stock of the Company for each common share of GMG owned by them, resulting in GMG shareholders acquiring
On June 17, 2022, the Company was issued a Certificate of Amendment of Articles of Incorporation from the Secretary of State of Nevada with the same Effective Date as the merger, whereby the Company amended its Articles of Incorporation as follows: (i) all outstanding pre-merger common stock will be reverse split on the basis of one share of post-split common stock issued for each ten shares of pre-split common stock, (ii) the Company's corporate name will be changed to "Genuine Marketing Group Inc.", and (iii) the authorized shares of the Company will be changed to include Seven Hundred Fifty Million Common Shares and Fifty Million Preferred Shares, all of $.0001 par value per share.
Genuine Marketing Group Inc. or GMG is a retail and consumer focused marketing company that creates brand affinity and builds consumer confidence through its proprietary authentication system, ZPtag. Combining the user-friendly engagement of a smartphone app with the smart contracts of the IBM blockchain, GMG seamlessly integrates brand marketing and measuring consumer sentiment into the everyday consumer shopping experience.
As GMG's app development and technology partner, IBM not only serves as the blockchain engine, but also as an integral part of the data-rich user experience. IBM blockchain is utilized to authenticate products while tracking and recording the product journey from origin to shopping cart. This allows for real-time customer engagement and product authentication direct from the shopping aisle.
More information about Genuine Marketing Group Inc. can be found at
https://genuinemarketinggroup.com/
Contact: Greg Needham
Email: greg@theworldpokerstore.com
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.
View original content to download multimedia:https://www.prnewswire.com/news-releases/world-poker-store-inc-completes-documentary-filings-for-merger-with-genuine-marketing-group-inc-301573561.html
SOURCE The World Poker Store Inc.
FAQ
What is the effective date of the WPKS and Genuine Marketing Group merger?
How will the merger affect existing shareholders of WPKS?
What will the new corporate name be after the merger?
What strategic advantages does Genuine Marketing Group offer to WPKS?
What technology partnership does Genuine Marketing Group have?
