INTERNATIONAL STAR ANNOUNCES APPOINTMENT OF NEW INTERIM CEO AND CHAIRMAN AND IMMINENT INITIAL ACQUISITION
Rhea-AI Summary
International Star, Inc. (OTC:ILST) has appointed Mr. Nochum Greenberg as interim CEO and Chairman following a recent control change. Greenberg intends to drive the company's transition and repositioning strategy, focusing on acquiring revenue-generating firms. A significant announcement regarding an initial acquisition is expected within two weeks. The company aims to create a financially robust enterprise, enhancing shareholder value. New communication channels, including a website and Twitter handle, have been established to keep stakeholders informed.
Positive
- Appointment of Nochum Greenberg as interim CEO and Chairman, indicating strong leadership during a transitional period.
- Focus on acquiring revenue-producing and cash flow positive companies, potentially expanding market reach and enhancing financial performance.
- Expectations of an initial acquisition announcement within two weeks, indicating proactive strategic planning.
Negative
- None.
News Market Reaction – ILST
In the trading session that priced this news, ILST gained 15.22%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Will Spearhead Company's Transition Following Change in Control
MIDDLETOWN, Del., Aug. 15, 2022 /PRNewswire/ -- International Star, Inc. (OTC:ILST) (the "Company") today announced the recent appointment of Mr. Nochum Greenberg as the Company's interim Chief Executive Officer and its Chairman of the Board. Together with the incoming management team, Mr. Greenberg will spearhead the Company's transition, oversee its repositioning, and execute its strategic plan. Management's vision for the Company is to merge with or acquire revenue producing and cash flow positive target companies. Announcements on that front are forthcoming, and the Company expects to announce our initial transaction within the next two weeks.
Mr. Greenberg commented, "We are very excited about our plans for International Star's future. We intend to shape an organization that will effectively achieve its vision and purpose and, ultimately, expand the Company's business and maximize its value. We will provide further disclosure of our plans to our shareholders and the general public as soon as possible. We are aware that there are many eager and devoted shareholders out there and we thank you all for your support. We want to thank Caren Currier for aiding in transaction, and her guidance while administrative tasks were dealt with."
New forms of communication are being made available:
- A new company twitter handle: @ilstinc
- A new company website: www.ilstinc.com
- New email addresses: info@ilstinc.com; legal@ilstinc.com;
Information about ILST can be found at:
ABOUT INTERNATIONAL STAR
International Star Inc. has historically been focused on mineral property interests. In June 2022, a controlling stake in International Star was acquired by ILST Holdco LLC. Under its new management, the Company's strategic objective is to acquire, merge with and build revenue and cash flow producing companies in order to create successful and financially robust enterprise which will consistently create and build stakeholders' value.
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include but are not limited to: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance.
View original content:https://www.prnewswire.com/news-releases/international-star-announces-appointment-of-new-interim-ceo-and-chairman-and-imminent-initial-acquisition-301605703.html
SOURCE International Star, Inc.