After-hours today, Alternative Energy Partners (dba PharmaJanes.com) and SK3 Group (dba Medical Green) have come together to sign a definitive agreement to merge.
The two companies, who have been working together extensively in March this year, have come together for better market efficiencies and to create a single medical marijuana market support company which can qualify for a higher (AMEX, NASDAQ) market listing. – Marketwired Under this agreement, SKTO and AEGY will join together as a new company that will combine the separate operation of each company. Shareholders of each company will receive shares of the new company; which will have to apply for a new trading symbol, CUSIP number and continued electronic trading status with the Depository Trust Company. The final exchange rate for the common shares of AEGY and SKTO will be based on the volume weighted average market value of each company on the effective date, which has not yet been determined. – Marketwired
“We are excited that this merger is completed and we are looking forward to moving ahead in our newly merged form … I am looking forward to working with the AEGY management to integrate both companies to deliver enhanced value to all of our shareholders.”
– SK3 Group President, Artemus Mayor
“This merger will enhance our ability to deliver services to our customers across all of our lines of business … The combined entity will take advantage of scale economies and directly aligned business operations and strategy to take the combined business to the next level.”
– Mario Barrera, President of PharmaJanes.com
What does this mean for SKTO and AEGY? Both PharmaJanes.com and SK3 Group have seen exponential growth since 2014 has begun (with AEGY opening the year at $0.0003 per share to a high of $0.0102 per share before finding a resting zone between the two points). SKTO has followed the same pattern, opening the year around $0.0075 per share and hitting a high of over $0.05 per share before landing in the middle as of late. Both companies have been able to generate buzz on their own, but have found a comfort zone working with one another. The exact terms of what will happen to the shares once the merger is finalized has not been announced yet, but I definitely expect the new company to have immediate success. With AEGY providing on-line services for MMJ companies, and SKTO providing administrative services for the same clientele, watch for this new company to be a one-stop shop for up-and-coming companies in the marijuana industry.
Rosenberg (OTC Daily)
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