STL Marketing Group, Inc. ( PINKSHEETS : STLK ) and Versant Corporation have completed their merger and share purchase agreement. Versant I, Inc. has purchased the controlling block of preferred shares in STLK from Alliance Creative Group, Inc. ( PINKSHEETS : ACGX ). The Board of Directors of both companies have approved the merger of the companies and management will begin implementation immediately. As part of the merger, Mr. Paul Sorkin has resigned as Chief Executive Officer of STL Marketing Group, Inc. and Mr. Jose P. Quiros has been named STL Marketing Group’s new Chief Executive Officer.
“We apologize for any delays or confusion related to the past status of STLK. Today is a great day for all current shareholders and I look forward to watching Mr. Quiros lead his team through this very exciting project. I am committed to working with the new management during this transition to assure that the public receives full and complete disclosures related to all past, current and future transactions,” says former CEO Mr. Paul Sorkin.
The company has changed transfer agents from First American Stock Transfer to V Stock Transfer Agent and would like to correct a previous statement. Although the company has not issued a single share, free trading or restricted, since the 4th Quarter of 2009, the previous press release listed an incorrect total number of outstanding shares. The total number of current outstanding common shares is 21,623,524 with 20,843,686 of those shares free trading.
Current CEO Jose P. Quiros said, “We are very pleased with this transaction as it provides us a better platform to operate and provide continued transparency to our existing and future investors in addition to positioning us to better access the capital markets. We will implement a parallel strategy that continues to pursue the completion of our Power Purchase Agreement, as well as updating and completing our studies on the site. All while we initiate the necessary work to complete our audits and file all required information and disclosures to complete the requirements for STLK to become a fully reporting company. We look forward to implementing our business plan and filing the necessary filings with the Securities Exchange Commission as soon as possible.”