Business
Public Company Becomes Newest Entrant In Alarm Industry; NuLife Expands from Life Sciences to Life Safety
Public Company Becomes Newest Entrant In Alarm Industry; NuLife Expands from Life Sciences to Life Safety.
About this update from Gulf West Security Network Inc.
[{"type":"text","content":"\nNEWPORT BEACH, Calif., Oct. 08, 2018 (GLOBE NEWSWIRE) -- NuLife Sciences, Inc. (OTCQB: “NULF”) announced today that it has successfully closed its previously announced merger with two Louisiana-based electronic security companies, effectively “paving the way” for the Company’s planned expansion into the rapidly growing life safety and security industry.\n According to Chairman Sean C. Clarke, the Company has merged with LJR Security Services, Inc. (“LJR Security”), and its wholly-owned subsidiary, Gulf West Security Network, Inc. (“Gulf West”), both headquartered in Lafayette, LA. LJR Security and Gulf West were founded, owned and operated by long-term alarm industry veteran Louis J. Resweber.“While this is a major development for NuLife, I modestly believe that this transaction can be also seen as a notable event in regards to the overall alarm industry,” explained Resweber. “Indeed, with the completion of this merger, there is now a new publicly-owned and stock-traded company actively entering the life safety and electronic security sector.”“With NuLife having traditionally focused on bio-medical and health care technologies, I believe the Company’s recent decision to expand from ‘life sciences’ to ‘life safety’ will prove to be an appropriate and synergistic ‘next step’ in the ongoing evolution of this organization,” said Resweber, who spent the majority of his 35-year career in the alarm industry, and who has been asked by the Board of Directors to assume a senior management role in the combined companies.Pursuant to the Merger Agreement, a wholly-owned subsidiary of NuLife Sciences, Inc. (“the Company” or “NuLife”) has merged with LJR Security.  An independent audit of the combined LJR and Gulf West has been completed, and a Form 8-K has been filed with the U.S. Securities & Exchange Commission (“SEC”), outlining full details of the merger. • Strategic Decision:Eight weeks ago (on August 9, 2018), the Board of Directors of NuLife announced its strategic decision to pursue new lines of business by entering into a merger agreement with LJR Security, which is active in the hands-on engineering, design, sales, installation, service, inspection an...