Carbon Bond Holdings, Inc. acquired SpeedSport Branding, Inc. (OTCBB:SDSP.D) in a reverse merger transaction.
June 13, 2014 at 12:00 am EDT
Share
Carbon Bond Holdings, Inc. acquired SpeedSport Branding, Inc. (OTCBB:SDSP.D) in a reverse merger transaction on June 12, 2014. Pursuant to the terms and conditions of the merger agreement, each share of Carbon Bond common stock issued and outstanding immediately prior to the closing of the merger was exchanged for the right to receive one share of the SpeedSport Branding common stock. Accordingly, an aggregate of 59.3 million shares of the SpeedSport Branding common stock were issued to the holders of Carbon Bond's common stock. The name of surviving corporation will be Cannlabs Inc. CannLabs will trade on OTCBB under the symbol "SDSPD," until on or about July 10, 2014, at which time it will be quoted under the symbol "CANL". Cannlabs will be headquartered in Denver, Colorado and will continue the business of Carbon Bond as its primary line of business. Cannlabs new management team includes Genifer Murray, Chief Executive Officer and Board Member, Steve Kilts, President, Chief Operating Officer and Board Member; and Scott McPherson, Chief Financial Officer. Cannlabs Board of Directors now consists of six members, including four newly appointed independent Directors, Joe Allbaugh, Ken Johnsen, Mark Mirken, and Mark Rogers. Stanley Moskowitz of The Bingham Law Group, APC acted as legal advisor to SpeedSport Branding and Steve N. Levine of Husch Blackwell LLP acted as legal advisor to Carbon Bond Holdings in the deal.
Carbon Bond Holdings, Inc. completed the acquisition of SpeedSport Branding, Inc. (OTCBB:SDSP.D) in a reverse merger transaction on June 12, 2014.
CannLabs, Inc. is a diversified holding company. The Company is a provider of cannabis and hemp/cannabidiol (CBD) laboratory testing services in Texas. The Company, through its subsidiary, Transcend Growth Ventures, helps enable and optimize operations to develop workflows, implement software and establish procedures for cannabis businesses. Through Noble Realm Games, it is engaged in the gaming and entertainment business. Through Color Blind USA, Inc., the Company is engaged in four sectors, such as manufacturing, apparel, music and video game design. Through U-World Global Technology Inc., the Company has access to a fleet of vessels and can charter vessels for virtually any type and size of bulk oil voyage. The Company, through Crionx LLC., provides professional engineering and technical management services focused on technology-enabled business solutions. The Company, through Black Eyed Distilling Co., is engaged in the distillery business.