SPARKS, Nevada, December 22, 2017 /PRNewswire/ --
RESTANCE, Inc. (OTC: ANCE) today released a shareholder update to confirm recently announced contracts and developments in conjunction with the company's overall effort to rectify the promotion concern expressed by OTC Market Group, Inc. (OTC: OTCM). Today's update is a follow up to a previous press release published by the Company on December 16, 2017. RESTANCE management recommends reading the previous press release in conjunction with the update today.
"Last week we released a press release to shed light on action taken by OTC Markets Group in reaction to their concerns with ongoing promotional activity," said Randell Torno, CEO of RESTANCE. "Since that previous press release where I explained that the company had received an email from OTC Markets Group expressing their concern only in general terms, I have had the opportunity to speak directly with a representative at OTC Markets Group and hear their specific concerns. After the call, the representative forwarded a PDF file and link to a third-party promotion that was cause for the concern. The link was to ancereport.com. The first I became aware of this promotion was when the representative at OTC Markets Group told me about it. The "ancereport' website and collateral promotion material was not sanctioned by RESTANCE. No one associated with RESTANCE had anything to do with the website or associated campaign. I have personally sent the party responsible for the website a cease and desist notification insisting that the website and any associated communications be discontinued. I reviewed the ancereport website, and while I did not find any of the information to be grossly inaccurate, the presentation of material included an exaggeratory tone that could be misleading. As stated in company releases, RESTANCE is concentrating its business development efforts at this time in East Africa and has indeed entered into a contract to produce condoms under the Playboy logo as part of a socially responsible campaign to contribute to the end of the AIDS Epidemic. Please beware of any third-party information. In accordance with instructions from OTC Markets Group, RESTANCE will shortly update its public disclosures on the OTC Markets Group website specifically addressing OTC Markets Group's promotion concerns. It is my understanding from my communications with OTC Markets Group, that the warning label placed on RESTANCE on the OTC Markets Group website should be removed within thirty days. We appreciate OTC Markets efforts to protect investors from unscrupulous initiatives to bilk investors, and we are happy to work with OTC Markets to address the concern with the third-party promotion discovered by OTC Markets. If we have further updates on this subject, we will release those updates in subsequent news releases."
About RESTNACE, Inc.
On June 1, 2017, RESTANCE acquired East African Development Partners LLC. Randy Torno is the founder of East African Development Partners and now the CEO of RESTANCE. He has years of experience living and working in several regions in Africa on both government and commercial projects. East African Development Partners and now, RESTANCE are developing opportunities in the region including initiatives in technology and systems integration services, utility support services, affordable housing and health products manufacturing. At this time, the company's leading initiative surrounds a recent contract to produce condoms in Kenya under the Playboy brand name as part of the #DoIt4Africa campaign to contribute to ending the global AIDS epidemic.
Learn more about the RESTANCE operations in Africa on the Company's website: http://www.restanceinc.com
This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies' contracts, the companies' liquidity position, the companies' ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur.
SOURCE RESTANCE, Inc.