Business
Ecoark Holdings Provides Update on Divestiture of Non-Core Assets, Management and Board of Director Changes
Ecoark Holdings Provides Update on Divestiture of Non-Core Assets, Management and Board of Director Changes.
About this update from Riskon International, Inc.
[{"type":"text","content":"\n \n Ecoark Holdings, Inc. (“Ecoark”), to be renamed Zest Technologies, Inc., \n (OTCQX: ZEST), today announced it has entered into letters of intent for \n the sale of the key assets of Sable Polymer Solutions, LLC, as well as \n the sale of its Pioneer Products subsidiary. The sale of these assets is \n part of the Company’s previously stated corporate strategy to divest all \n non-core holdings as the Company moves toward a sole focus on Zest Labs, \n an AgTech company. Ecoark expects to complete these transactions in its \n second fiscal quarter (prior to September 30, 2018) and will use all \n proceeds towards growth capital for Zest Labs.\n \n \n The Company also announced it has reduced the size of its Board of \n Directors to six members and accepted the resignations of Susan Chambers \n and Terrence Mathews effective May 11, 2018. Ecoark is grateful for the \n contributions, insight and guidance provided by these industry leaders \n and wishes them the best in their future endeavors.\n \n \n To accommodate his desire to launch a private equity fund, the Company \n also announced today that its Chief Financial Officer, Jay Puchir, has \n resigned effective May 11, 2018. Mr. Puchir has agreed to stay on in an \n advisory role for six months to help with the transition. Mr. Puchir has \n made significant contributions and been instrumental in Ecoark’s fund \n raising efforts since he joined the company in December 2016.\n \n \n About Ecoark Holdings, Inc.Ecoark Holdings, Inc., to be \n renamed Zest Technologies, Inc., (OTCQX: ZEST) is focused on improving \n the agriculture and supply chain industries through AgTech solutions for \n growers, processors, ranchers, restaurants and retail grocers. The \n Company offers a suite of proven solutions that address the $161 billion \n fresh food waste problem, improve delivered freshness, and provide true \n transparency for the fresh produce, meat and seafood supply chains. To \n learn more about Zest Labs, please click \n here. To watch a video about Zest Fresh, please click \n here.\n \n \n Forward Looking StatementThis release contains \n forward-looking statements, including, without limitation, statements \n concerning the business and possible or assumed future results of \n operations of Zest Labs; and statements concerning the ability of Zest \n La...