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NOHO Sues Greenfield Farms and CEO for Rescission of NGEN Technologies Transaction

PHOENIX, Dec. 22, 2017 (GLOBE NEWSWIRE) -- NOHO, Inc. (OTC PINK:DRNK), a Wyoming corporation (the “Company”), announced the following:  

NOHO, Inc. has filed suit against Greenfield Farms Foods, Inc. and Ronald Heineman in State Court in California, captioned as Luke C. Zouvas and NOHO, Inc., Plaintiffs vs. Greenfield Farms Food, Inc., Ronald Heineman and Does 1-50.  click here for a copy of the action

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The action seeks damages for misrepresentation, rescission of any purported agreements to transfer ownership of the company, as well as any action not approved directly by NOHO, Inc., as controlling the majority proxy of the vote of Greenfield Farms as well as the Company’s Board of Directors, pursuant to the Asset Purchase Agreement of June 7, 2017.  Further injunctive relief is sought to declare all of the announced and intended transactions with NGEN Technologies to be a nullity and recognize NOHO’s control of the Company.

Luke Zouvas, General Counsel to NOHO, said, “We commenced this action in state court to give us the best opportunity to obtain relief for NOHO and the public as quickly as possible. And all federal securities laws will apply.  Our position is that Mr. Heineman’s resignation is not effective and the transaction with NGEN Technologies will not occur.  These parties appear to be colluding to hijack Greenfield Farms when in fact the Company is 49% owned and totally controlled by NOHO.  We anticipate naming additional parties in the near future as information comes to light.”

NOHO, Inc.’s CEO, David Mersky, further provided, “This entire case shocks the conscience.  We have an enforceable agreement that was not only signed, but announced by Greenfield Farms granting NOHO control of the Company in its pursuit of the insurance project.  What has transpired is inexplicable and it will not stand.  I want the shareholders of both companies to understand that management is not interested in the balance sheet of GRAS, but rather a much greater strategic interest.  GRAS is wholly controlled by NOHO and I am obligated to protect that asset and will continue to enforce NOHO’s rights and pursue value for our shareholders.”

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Cautionary Note Regarding Forward-Looking Statements.

This press release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Noho, Inc. (the “Company”), its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control, and actual results may differ materially from those projected in the forward looking statements as a result of various factors. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors, which are, in some cases, beyond the Company's control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Important factors that could cause actual results to differ materially from the company's expectations include, but are not limited to, those factors that are disclosed under the heading "Risk Factors" and elsewhere in documents filed by the company from time to time with the United States Securities and Exchange Commission and other regulatory authorities.

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