LaunchPad Café Ltd. Announces Signing of LOI to Combine with Ventana Biotech, Inc. (OTC:VNTA)

Rhea-AI Summary

LaunchPad Café Ltd. has entered into a letter of intent with Ventana Biotech, Inc (OTC:VNTA) to acquire 100% of LaunchPad’s shares in exchange for VNTA shares. The deal is contingent on due diligence and a definitive stock purchase agreement. The transaction is expected to close within 21 days, with financial details to be filed with OTCMarkets.com before June 30, 2021. LaunchPad Café aims to leverage VNTA's public platform to boost its financing capabilities.

Positive

• Strategic acquisition enhances VNTA's financing capabilities.
• Potential for growth through LaunchPad's business model.

Negative

• Transaction dependent on due diligence and final agreement.
• Uncertainty regarding the financial health of LaunchPad Café.

News Market Reaction – VNTA

+21.21%

1 alert

+21.21% News Effect

On the day this news was published, VNTA gained 21.21%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

DENVER, June 02, 2021 (GLOBE NEWSWIRE) -- LaunchPad Café Ltd. announces that it has entered into a letter of intent (LOI) with Ventana Biotech, Inc (OTC:VNTA) pursuant to which VNTA will purchase 100% of LaunchPad’s shares in exchange for shares in VNTA. The closing of the transaction is subject to due diligence and the execution of a definitive stock purchase agreement. The parties anticipate closing the transaction in the next 21 days, and immediately thereafter filing recent financial information with OTCMarkets.com before June 30, 2021.

Mr. Stephen Replin, President of LaunchPad Café said, “We are pleased with the opportunity to build our company by combining with VNTA and utilizing the VNTA public platform to expand our financing capabilities. We look forward to an expeditious closing.”

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/cc3eb7a2-608d-4923-ae7e-a11b9826adb5.

FAQ

What is the letter of intent between VNTA and LaunchPad Café?

VNTA has signed a letter of intent to acquire 100% of LaunchPad Café's shares in exchange for VNTA shares.

When is the expected closing date for the VNTA and LaunchPad Café transaction?

The transaction is anticipated to close within 21 days from the announcement date.

What will happen after the VNTA and LaunchPad transaction closes?

Following the closure, the parties intend to file recent financial information with OTCMarkets.com before June 30, 2021.

What are the potential benefits of the VNTA and LaunchPad Café acquisition?

The acquisition may enable VNTA to leverage LaunchPad's business model and enhance its financing capabilities.