LOS ANGELES, CA -- (Marketwired) -- 06/24/14 -- Alternative Energy Partners, Inc. (OTC Pink: AEGY) (PINKSHEETS: AEGY) and SK3 Group, Inc. (OTC Pink: SKTO) (PINKSHEETS: SKTO) make the following joint statement:
We are pleased to update our shareholders that the letter of intent referenced in our last press releases concerning the impending merger with a company listed on a Canadian Stock Exchange has now been signed, and we are preparing a definitive long form acquisition agreement.
Specific details of the planned acquisition transaction, including the new company's name and ticker, and the effect of the transaction on the Companies and our shareholders, including how shareholders will take shares of the new entity, will be provided no later than when the definitive acquisition agreement has been signed if not sooner. This decision was made strategically and is the result of our efforts to ensure that our shareholders have a meaningful market in which to continue to trade their shares in the Companies and to permit the new company to operate in a more favorable regulatory climate.
We have received communications of tremendous support from shareholders for our prior shareholder letters of today's date, for which we thank those shareholders.
We want to thank our shareholders and customers for continuing to support the Companies and our business model, and we look forward to the exciting days ahead as we continue to serve the growing population of medical cannabis patients in California, and later around the United States and elsewhere.
Alternative Energy Partners, Inc.
SK3 Group, Inc.
The statements in this document have not been evaluated or approved by the FDA. The products and statements referenced in this document are not intended to diagnose, treat, cure, or prevent any disease.
AEGY's PharmaJanes provides a technology platform that facilitates patient enrollment in its exclusive network of dispensaries by processing and verifying patients' applications. In addition, PharmaJanes routes customer orders to its exclusive non-profit collectives, which then process and deliver the orders to patients in their homes. Upon completion of verification, patients have access to all medical cannabis products available on the PharmaJanes menu. PharmaJanes features products produced by master growers, and products licensed by SKTO to its wholesale managed collectives.
PharmaJanes' online ordering platform allows authorized medical marijuana patients to order, process and pay for their authorized needs, in a simple, safe and secure ordering and payment interface. Simple Prepay, a separate division of AEGY, is a merchant payment solution developed to offer a convenient payment solution to medical cannabis dispensaries, collectives, and delivery services. PharmaJanes also is the exclusive online marketing platform for Medical Greens, a subsidiary of SKTO.
SK3 is a healthcare logistics and fulfillment consultancy focused on the delivery of alternative care and medicine. With seasoned management, breakthrough technology and best practices, SK3 brings standardization and transparency to this rapidly growing segment of the alternative care field.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.