XCPCNL AND MCAP MEDIA INC. ANNOUNCE TERMINATION OF LETTER OF INTENT
XCPCNL Business Services Corporation (OTC Pink: XCPL) has mutually terminated its letter of intent with MCAP Media Inc., citing concerns over its minority preference status and the need to focus on completing its reverse merger with Centiment Capital. The company will continue utilizing MCAP Media's services while exploring other opportunities in the tech sector. CEO Timothy Matthews expressed gratitude for MCAP's support and emphasized the importance of prioritizing their business strategy.
- Continued collaboration with MCAP Media for services and potential opportunities in the tech space.
- Termination of the letter of intent may indicate challenges in navigating business partnerships.
- Focus on completing the Centiment Capital reverse merger may lead to delays in other strategic initiatives.
Charlotte, North Carolina, July 25, 2022 (GLOBE NEWSWIRE) -- XCPCNL Business Services Corporation (OTC Pink: XCPL), a venture development business that leverages knowledge, skill, and experience in the consumer products industry, along with MCAP Media Inc., an established multimedia/publishing firm announce today that both parties have mutually agreed to terminate the previously announced letter of intent between the parties.
XCPCNL will continue to use the services of MCAP Media and evaluate other opportunities with MCAP Media within the Tech Space.
"In light of our status as a minority owned company, we have concluded that the timing of completing this transaction may jeopardize our minority preference status, along with needing the bandwidth to complete the Centiment Capital reverse merger. We are thankful for the support of MCAP Media and its team and wish them success as they negotiate an alternative transaction," stated Timothy Matthews, Chief Executive Officer of XCPCNL.
XCPCNL Business Services Corporation (OTC Pink: XCPL) encourages shareholders to visit their corporate Twitter account at https://twitter.com/RealXCPCNL.
Forward-Looking Statements Disclaimer:
This press release may include, and oral statements made from time to time by representatives of the Company may include, "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. Statements regarding possible business combinations and the financing thereof, and related matters, as well as all other statements other than statements of historical fact included in this press release, are forward-looking statements. When used in this press release, words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filing with the Over the Counter Market (“OTC”). All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
About XCPCNL
Charlotte, NC-based XCPCNL Business Services is a venture development business that leverages its knowledge, skills, and experience in the consumer products industry. Our primary mission is to provide marketing, technology, and other business services to fast-growing consumer product companies and big-box retailers. XCPCNL is a minority-owned and controlled firm. To learn more about our businesses, services, and opportunities, please contact: info@xcpcnl.com
To learn more about XPCNL, visit www.xcpcnl.com
For Inquiries:
Email: ir@xcpcnl.com
FAQ
What was announced regarding XCPL and MCAP Media on July 25, 2022?
Why did XCPL terminate its agreement with MCAP Media?
How does the termination of the letter of intent affect XCPL's business strategy?
What is the stock symbol for XCPCNL Business Services Corporation?
Will XCPL continue to work with MCAP Media after the termination?
