Embarr Downs Announces That It Closes on Acquisition and Sale of Company For its Client
LOS ANGELES--(BUSINESS WIRE)--Embarr Downs, Inc. - (OTCQB: EMBR) announced that its subsidiary W+B Partners has closed on the acquisition and sale of Quantech Electronics Corp (QTHE). W+B Partners had been retained by Signal Bay to obtain a shell for a reverse merger. W+B Partners acquired and sold Quantech Electronics to Signal Bay. Signal Bay provides market research reports to its clients in various fields.
W+B Partners was compensated $100,000 plus a 4.9% position in the Company. W+B Partners received $50,000 cash and a note payable for the remaining $50,000. The 4.9% stake is through a Preferred Stock issuance that may not be converted into Common Stock for 12 months. W+B Partners acquired an additional 4.5% to bring the Company’s total ownership to 9.4%.
Additional Acquisitions: W+B Partners has begun negotiations with majority shareholders of 10 different companies to acquire their majority interest in the public companies. These companies will be used as operating subsidiaries of Embarr Downs or for clients of W+B Partners.
About Embarr Downs. The Company is a holding company that operates through its subsidiaries, Embarr Downs of California, SouthCorp Capital, W+B Partners and Tren TV.
Notice Regarding Forward-Looking Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate.