Market Overview

Greenfield Farms Food Completes Asset Purchase with NOHO, Inc.


WEST PALM BEACH, FL / ACCESSWIRE / June 7, 2017 / Greenfield Farms Food, Inc. ("GRAS" or the "Company") (OTC PINK: GRAS) announced it has completed the Asset Purchase Agreement with NOHO, Inc. (OTC PINK: DRNK) through Cherry Hill Financial, LLC.

Pursuant to the deal, Cherry Hill's membership interest was acquired in exchange for 49% of GRAS' common stock. As the first of a series of anticipated transactions, the model places NOHO in control of the board of directors of the target.

The agreement requires GRAS to divest itself of its prior operations and bring in a new staff of licensed brokers and support personnel to begin marketing its pre-paid life insurance program to employees of staffing companies throughout the country. Ronald Heineman, GRAS' CEO, will remain in place and rely on his years of experience in the staffing industry to access nearly 24,000 employees for enrollments.

The insurance program will pair employee bases with target companies under a co-employment relationship and offer employees life insurance as a 401(k) alternative, providing pre-paid coverage for up to three years.

David Mersky, NOHO, Inc.'s CEO, stated, "We have finally put all the pieces together to complete the acquisition of GRAS so we can begin to put the operations in place to start selling policies. It is a highly specialized and niche insurance offering that requires very particular components. We've got the secret sauce."

GRAS' shares will be booked corporately in NOHO's investment account.

About Greenfield Farms Food, Inc.

Greenfield is a publicly-traded nominally capitalized company operating through its wholly-owned subsidiary Carmela's Pizzeria CO, Inc. through the Carmela's Pizzeria Dayton restaurant locations that include pizza buffets, alcohol service, delivery and carry-out depending on the location.

Safe Harbor for Forward-looking Statements

This news release may contain "forward-looking statements" that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. While these statements are made to convey to the public the company's progress, business opportunities and growth prospects, they are based on managements current beliefs and assumptions as to future events. However, since the company's operations and business prospects are always subject to risk and uncertainties, the forward-looking events and circumstances discussed in this news release might not occur, and actual results could differ materially from those described, anticipated or implied. For a more complete discussion of such risks and uncertainties, please refer to the company's filings with the Securities and Exchange Commission.

Contact Information:

Greenfield Farms Food, Inc.


SOURCE: Greenfield Farms Food, Inc.

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