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Novation Holdings Inc Announces Acquisition Of Controlling Interest In Solar Energy Initiatives Inc


Tuesday, 2 Jul 2013 09:33am EDT 

Novation Holdings Inc announced that it has acquired a controlling interest in Solar Energy Initiatives Inc. in exchange for the stock of HB&G Inc., parent of HB&G Temecula, Inc., which operates a local-themed, entertainment focused, bar and restaurant in Temecula California. The parent, HB&G, Inc. plans to start additional, local themed entertainment restaurants in Southern California, Arizona, Texas and possibly Florida over the next three years. The acquisition was in exchange for a combination of SNRY common stock and a convertible preferred stock with voting power equal to 51% of all voting stock of SNRY. Although originally announced in April, 2013, the final closing and transfer could not be completed until certain open issues with the restaurant's landlord were resolved, which has just been done. Terms of the transaction were not disclosed. 

Company Quote

1.0E-5
1.0E-5 +900.00%
12:19pm EST