Business
Kalahari Greentech Announces Plans to Merge With Pizza Fusion, a Franchisor of Organic Fare Pizza Restaurants, and Its Name Change to PF Hospitality Group, Inc.
Kalahari Greentech Announces Plans to Merge With Pizza Fusion, a Franchisor of Organic Fare Pizza Restaurants, and Its Name Change to PF Hospitality Group, Inc..
About this update from Sun Pacific Holding Corp.
[{"type":"text","content":"\n \n \n Kalahari Greentech Announces Plans to Merge With Pizza Fusion, a Franchisor of Organic Fare Pizza Restaurants, and Its Name Change to PF Hospitality Group, Inc.\n \n \nKalahari Greentech Announces Plans to Merge With Pizza Fusion, a Franchisor of Organic Fare Pizza Restaurants, and Its Name Change to PF Hospitality Group, Inc.\n\nCompany to Complete 1-for-2000 Reverse Stock Split and Reduce Authorized Shares to Complete Merger\n\n \n ATLANTA, GA--(Marketwired - Jun 1, 2015) - Kalahari Greentech, Inc. (OTC PINK: KHGT) (the \"Company\" or \"KHGT\"), announced today plans to merge With Pizza Fusion Holdings, Inc., a franchisor of organic fare pizza restaurants and change its name to PF Hospitality Group, Inc. to reflect its future plans to operate in the dining and hospitality industry. The merger is expected to close by June 30, 2015. \n Pizza Fusion Holdings is a franchisor of pizza restaurants specializing in organic fare free of artificial additives, like preservatives, growth hormones, pesticides, nitrates and trans fats. Pizza Fusion proudly offers health conscious alternatives, such as gluten-free pizza, brownies, and beer, as well as vegan selections. Pizza Fusion offers its customers a 75% organic menu featuring an eclectic variety of gourmet sandwiches, salads, desserts, beer and wine. Pizza Fusion evaluates its operations from an environmental perspective in an effort to minimize its ecological footprint. Pizza Fusion Holdings also owns a 100% interest in Shaker & Pie, Inc., a modern urban bistro in the heart of downtown Boca Raton, which is slated to open in the fall of 2015. Shaker & Pie combines wood-fired pizzas and healthy & hearty Italian influenced street food.\n As part of the terms of a May 26, 2015 merger agreement, the Board and a majority of the Company's shareholders approved a reverse stock split on a 1 share per 2,000 basis. The reverse stock split is subject to approval by FINRA. If the reverse stock split is approved, every 2,000 shares of the Company's common stock will be combined into one issued and outstanding share without any change in the par value of such shares. Also, the Company is in the process of obtaining FINRA approval of its amendment of its Articles of Incorporation reducing the number of authorized shares from 2,000,000,000 to 520,000,000, of which 500,000,000 ...