TOLLAND, Conn., Oct. 12, 2017 /PRNewswire/ -- Lot 78, Inc. (OTCPink: LOTE) has announced that it is scheduled to acquire over the next week a 2.5% equity stake in Garage Juice Bar, LLC also known as Juice Bar Electric Vehicle Charging Stations.
LOTE CEO David Schmid stated, "We are excited to be able to invest in Garage Juice Bar, LLC also known as Juice Bar Electric Vehicle Charging Stations. This investment aligns with our mission to provide value to shareholders through the acquisition of investments that show potential to be scaled regionally and / or nationally or investments that drive outsized returns. Having experienced unexpected and significant market force headwinds, the company was still able to raise specific investment dollars for this acquisition for a 2.5% equity stake in Garage Juice Bar, LLC. With this investment opportunity time window in Garage Juice Bar, LLC beginning to close, Lot 78, Inc. continues to try raise specific investment funds to invest more into the Garage Juice Bar, LLC opportunity. While acquiring a stake in Garage Juice Bar, LLC is an important and exciting first investment, our company will continue to seek opportunities that align with our mission."
ABOUT LOT 78, INC. The Company was incorporated in the State of Nevada on June 27, 2008. On March 14, 2011, the Company filed a Certificate of Amendment with the Secretary of State of Nevada changing the name of the Company to "Bold Energy, Inc." On November 12, 2012, the Company, then under the name Bold Energy, Inc., entered into a Share Exchange Agreement with Anio Limited a limited liability company established under the laws of the United Kingdom ("Anio Ltd."), which conducts its primary line of business under the name Lot78, Inc., the shareholders of Anio Ltd., and the controlling stockholders of the Company. The company changed names to Lot78, Inc. on January 31, 2013. On July 15, 2016, the Company entered into a Letter of Intent to merge with Compound Holdings, LLC, a Connecticut limited liability company. Subsequently, on July 18, 2016, the Company and Compound Holdings LLC entered into a definitive Agreement and Plan of Merger. Pursuant to the plan of merger, upon closing, the Company intends to change its name to Compound Holdings, Inc.
SOURCE Lot 78, Inc.