USA: Paramark Enterprises, Inc. and Creative Bakeries, Inc. Jointly Announce Exploratory Merger Discussions
Paramark Enterprises, Inc. (OTC Bulletin Board: TJCI) and Creative Bakeries, Inc. (OTC Bulletin Board: CBAK) jointly announced today that they are exploring the opportunity to merge the two companies. Both companies are currently completing their due diligence and negotiating the terms of a letter of intent. If the companies are successful in reaching an agreement, the merger transaction will be subject to the satisfactory completion of due diligence, the execution of definitive documentation, approval by the directors of both companies and their shareholders and other customary terms and conditions."This transaction will provide a solid platform for future growth through mergers and acquisitions enabling the new company to become an industry leader in the sales and distribution of specialty bakery products," noted Charles Loccisano, Chairman and CEO of Paramark Enterprises, Inc. "This combination will create significant synergies including increased national distribution of products from an east and west coast bakery facility, increased sales through the cross marketing of products and substantial cost savings through shared corporate general and administrative costs," noted Phil Grabow, President and CEO of Creative Bakeries, Inc.Certain statements in this press release including, without limitation, management's beliefs, expectations and opinions, are forward-looking statements that involve risks and uncertainties that are subject to change at any time.Paramark Enterprises, Inc., is a publicly held company headquartered in Secaucus, New Jersey, whose common stock and Class B Warrants trade on the OTC Bulletin Board under the symbols TJCI and TJCIZ respectively.Creative Bakeries, Inc., is a publicly held company headquartered in Fairfield, New Jersey, whose common stock trades on the OTC Bulletin Board under the symbol CBAK.
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