TORONTO, March 18, 2016 /PRNewswire/ --
Great Rock Development Corp. (OTC: GROC) would like to provide the following update for shareholders.
Ongoing Research and Development
Over the past seven months Great Rock in collaboration with Toronto based development firm HexCode Inc., have been working on the development of a lottery gaming platform and a suite of associated applications. These initiatives represent the most exciting opportunity to date.
Management expects to announce more details including launch dates on this in the next few weeks.
Cyberworks Robotic Inc. Acquisition
As previously announced, Great Rock entered into an agreement on September 23, 2015 to acquire all of the shares of Cyberworks Robotics Inc. Due to an intractable shareholder dispute, Great Rock and Cyberworks have amicably agreed to rescind the transaction.
Great Rock Development will be canceling 160,000,000 common shares and 400,000 Super Voting Preferred shares representing all the consideration for the acquisition.
As part of the termination, Mr. Vivek Burhanpurkar stepped down as President, CEO and Director. John WIlkes, Great Rock's Director was appointed President and CEO a position he held prior to Mr. Burhanpurkar's appointment.
About Great Rock Development
Great Rock Development is a publicly traded software and research & development company. Great Rock focuses on automated solutions for media, gaming and communications. Learn more and sign up for our newsletter at: http://www.GreatRockDev.com
About Hexcode Inc.
Hexcode Inc. is a privately owned firm specializing in the design and development of web based software, mobile applications and corporate branding. http://www.HexCode.ca
Disclaimer: Shareholders and investors are strongly cautioned against placing undue reliance on information set forth within this website and these communications in making any investment decisions concerning our securities. The matters set forth in this press release are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially. These risks are detailed from time to time in the Company's periodic reports filed with the OTCMarkets.com including the company's Annual Report, Quarterly Reports and other periodic filings. These forward-looking statements speak only as of the date hereof. The Company disclaims any intent or obligation to update these forward-looking statements. Nothing within this site is meant to be a solicitation to buy or sell our securities. Investing in over the counter (OTC) securities often carries a high degree of risk. Please contact your financial advisor before investing in our securities.
SOURCE Great Rock Development Corp.