BOSTON -
July 9, 2024 -
PRLog --
AnnaBidiol, Inc., (OTC PINK:ACBD) (or the "Company"), is pleased to announce that it has entered into a Merger Agreement with Targatek, Inc., an AI Corporate Leadership SaaS Development Company. In the terms of the agreement, a reverse merger of Targatek Inc. will take place into a newly formed subsidiary of AnnaBidiol, Inc. that will result in the shareholders of Targatek receiving approximately 85% of the common stock of AnnaBidiol, Inc. after approximately 35,000,000 shares of common stock and 500,000 shares of Series A Preferred stock of AnnaBidiol, Inc., to be redeemed and canceled at closing. The merger Agreement provides for the usual and customary warranties and representations and requires the determination that the financials are auditable. The closing date is set to occur on or before September 15, 2024. AnnaBidiol, Inc. expects to raise approximately $750,000 in a private placement to fund ongoing operations and stock redemption.
Post-merger, and subject to the Private Placement being fully subscribed to, the current issued and outstanding 39,990,306 common shares will be reduced by an estimated retirement of 9,730,306 shares, reducing the presently issued and outstanding amount to an estimated 30,260,000. The company will also have an estimated zero preferred shares, zero warrants, and zero options issued and outstanding post-merger.
William J. Adams Jr, the CEO of Targatek, Inc., expressed his enthusiasm about the future. He stated, "We are excited about this opportunity with ACBD. Targatek is vested in developing artificial intelligence (AI) solutions for the leadership challenge of the twenty-first century through the convergence of technology and human elements in building the collaborative organization of tomorrow. This opportunity will allow us to accelerate growth."
About Targatek Inc.(www.Targatek.com (
https://pr.report/n8b)): Our journey began with a simple yet profound vision - to empower leaders by simplifying their complex workflows. Targatek is not just a software development company but is committed to redefining the leader experience. Targatek's story is one of passion, dedication, and a relentless pursuit of excellence. Founded by a team of visionary leaders, our mission is to create platforms and solutions that seamlessly integrate tools into today's workflow. This allows a more concentrated focus on what truly matters - leading with purpose and impact. At the core of Targatek is our mission to infuse AI into the corporate environment to revolutionize leadership workflow with accuracy and efficiency. We believe that leaders should spend more time leading and less time navigating through scattered tools. Targateks AI Solutions focuses on bringing leadership vision to reality, ensuring that your leadership journey is marked by efficiency, clarity, and transformative experiences.
Forward-Looking StatementsThis press release contains "forward-looking statements" within the meaning of various provisions of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, commonly identified by such terms as "believes," "looking ahead," "anticipates,"
"estimates" and other terms with similar meaning. Specifically, statements about the Company's plans for accelerated growth, improved profitability, future business partners, M&A activity, new service offerings, and pursuit of new markets are forward-looking statements. Although the company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Such forward-looking statements should not be construed as fact. The information contained in such statements is beyond the Company's ability to control. In many cases, the Company cannot predict what factors would cause results to differ materially from those indicated in such statements.
All forward-looking statements in the press release are expressly qualified by these cautionary statements and by reference to the underlying assumptions.
For more information, Visit:Contact:
AnnaBidiol, Inc. or Targatek, Inc., at
Info@Targatek.comFor media or Investment inquiries, please contact: Info@Targatek.com
SOURCE: AnnaBidiol Inc
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