Business
HUDSON AND GRANDE ENTER INTO DEFINITIVE AGREEMENT TO REACQUIRE HALL OF FAME BEVERAGES, INC.
HUDSON AND GRANDE ENTER INTO DEFINITIVE AGREEMENT TO REACQUIRE HALL OF FAME BEVERAGES, INC..
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[{"type":"text","content":"First Hudson Trust of New York, a\nMassachusetts trust operating under the laws of the State of Oklahoma\n(\"First Hudson\"), and Electronic Merchant Systems Rochester, Inc., a\nNew York corporation (\"EMS\"), are pleased to announce they have\nagreed to reacquire Hall of Fame Beverages, Inc. (US.HFBG.PK) (\"Hall of\nFame\").Michael P. Grande, the Chairman,\nPresident, and CEO of EMS, and Randolph S. Hudson, the Managing Administrative\nTrustee of First Hudson, are anxious to begin planning for the reintroduction\nof Hall of Fame's former product line, but, also, Mr. Grande has been in\nnegotiations with several suppliers to manufacture and distribute a new\nTHC-based beverage in those states where the sale of such products is permitted. Mr. Grande said, \"There are lots of\ncompanies claiming to be in the cannabis business in one fashion or\nanother. Only time will tell as to which\ncompanies are truly engaged in the business as opposed to those who are trying\nto capitalize by being associated with the cannabis industry and who have\nnothing to offer but hype.\"Mr. Hudson said, \"Perhaps we\nwere premature in rushing to judgment on Hall of Fame; however, given the fast\npace at which we are moving, there were certain inconsistencies with Hall of\nFame's prior operations for which we could not provide adequate explanations to\nourselves. Our goal was not to confuse\nor mislead shareholders of either Hall of Fame or other companies, but we had\nto make certain everything was in order with Hall of Fame and that he [the\ncompany's sole officer and director] could provide us with adequate\nexplanations as to the company's past business and experience. Alex [Johnson] has done just that. And, as the company's sole control\nshareholder, I believe him.\"The principals of Hall of Fame\nspent a week, two weeks ago, at Mr. Grande's home in Upstate New York. During that visit, they carefully reviewed\nand explained Hall of Fame's history and the reasons the company failed in\nbusiness under its previous management.Mr. Grande said, \"We always\nknew that Hall of Fame was the stronger of the two companies that we acquired\nin the beverage business. While neither\ncompany did anything in years, Hall of Fame owns and has rights to the better,\nmore marketable products. As with\nanything else, it ...