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The proposed transaction is subject to satisfactory completion of duediligence by the Purchaser, the execution of a definitive agreement and theapproval of both the board of directors.
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The non-binding terms of the letter of intent provide that the Sellerwould receive a convertible note from the Purchaser in exchange for 100% ofthe stock of Seller The conversion terms include conversion rights at .50 pershare in Mach One Corporation common stock.
There can be no assurance that any definitive agreement will be enteredinto, that any proposed transaction will be approved by the board of Seller orthat any transaction will be completed as a result of the execution of theletter of intent.
Monte Tobin, CEO of Mach One Corporation commented, "This proposedacquisition of Ceres Organic Harvest, Inc., a company with 20 million inannual revenues with a platform in organic agricultural products, will allowMach One a broader market penetration in the agricultural sector. Ourpotential customer base and Ceres customer base are aligned perfectly."
"We are excited about the possibility of working with Mach One'smanagement team to further expand our North American field operations andinternational trade," said Brittin Eustis, Founder and CEO of Ceres OrganicHarvest, Inc.
About Ceres Organic Harvest, Inc.
Ceres Organic Harvest, Inc. and its subsidiary Organic Grain and Milling,Inc. supply organic grain and grain-based ingredients to the food, feed anddairy industries, including varieties of wheat, flour, oats, corn, flax,barley and other products. Ceres is currently launching a number of oat-basedproducts using a proprietary oat cultivar with substantially higher fiber andbeta-glucan content. Ceres/OGM operates a grain elevator in North Dakota, withcorporate offices in St. Paul, Minnesota. More info:http://www.ceresorganic.com.
About Mach One Corporation:
Mach One (www.machonecorp.com) currently manufactures and sellsBridge(TM), a colostrums replacement, supplement and prophylactic, in sterilepowder form, which can be administered orally or intravenously. Mach One isalso further developing a proprietary procedure to allow for large scalemanufacturing of colostral replacement products for market that includes anadded ingredient for elimination of mastitis and Johnnes disease.
Cautionary Statement: This news release may include certain"Forward-looking statements" within the meaning of Section 21E of the UnitedStates Securities Exchange Act, as amended. All statements, other thanstatements of historical fact, included in this release are forward-lookingstatements that involve various risks and uncertainties. There can be noassurance that such statements will prove to be accurate and actual resultsand future events could differ materially from those anticipated in suchstatements. This notice expressly qualifies all forward-looking statements inthis release.
SOURCE Mach One Corporation
