Business
Ecoark Holdings to Expand into Financial Services
Ecoark Holdings to Expand into Financial Services.
About this update from Riskon International, Inc.
[{"type":"text","content":"\nSAN JOSE, Calif., June 06, 2019 (GLOBE NEWSWIRE) -- Ecoark Holdings, Inc. (\"Ecoark\") (OTCQX: ZEST), today announced that it has entered into a definitive agreement to acquire Trend Discovery Holdings, Inc. (“Trend”), a fund management company with a successful eight-year track record for its investors. Trend’s fund manager, William B. Hoagland, CFA, has additionally been named Principal Financial Officer of Ecoark.\n Ecoark has also executed a non-binding Letter of Intent (“LOI”) to acquire Nepsis Inc.™ (“Nepsis”). Founded in 1995, Nepsis is a well-established asset management and financial planning company built upon its powerful “Invest With Clarity™” brand. Since its inception in 2011, Ecoark has invested in new types of business projects as part of its ongoing operations. Ecoark hopes to build on the foundation of this strategy by merging the successful professional investment teams from Trend Discovery and Nepsis into the company. Ecoark expects to deliver increased value to its shareholders by providing new and increasing business opportunities. Trend has built a successful alternative investment fund management platform while delivering outstanding returns to its investors. Additionally, Nepsis, is a world-class money management and advisory platform that provides the ability to scale the platform nationally via the roll-up and acquisition of regional financial advisory firms. By combining the management of the financial planning services and asset managers with fund management Ecoark can provide a broader spectrum of opportunities for investors. “When we considered the merit of the acquisitions of Trend and Nepsis, we identified what we believe can provide significant long-term value creation for all Ecoark stakeholders,” said Randy May, CEO and Chairman of Ecoark. With the ability to provide massive scale in the asset management and financial planning marketplace, it provides Ecoark with a substantial pathway to revenue, earnings growth and long-term financial stability. “This acquisition merges the strength of Trend’s fund management with the market and technical vision of Ecoark,” stated William Hoagland. “I am excited to join the Ecoark team and see tremendous opportunity with this combined investor platform.R...