Cinnabar Ventures, Inc. To Acquire Yippy, Inc.
November 12, 2009 (FinancialWire) — Cinnabar Ventures, Inc. (OTCBB: CNBR) is in the final stages of acquiring Yippy, Inc., a private Delaware corporation, prior to January 14, 2010, per the agreement set forth in the shell acquisition between Richard Granville and Belmont Partners, LLP. Joseph Meuse, the Managing director for Belmont Partners, LLP, remained on the board of Cinnabar following the acquisition.
Details of this transaction are available through Edgar via 8K with other supporting documents, including the Stock Purchase Agreement and Promissory Note.
Cinnabar will be changing the sector of business to “Technology” in the industry of “Information and Delivery Services” at the next quarterly reporting period on the SEC’s website (www.sec.gov). Cinnabar has retained Anslow & Jaclin, LLP as its outside corporate and securities counsel.
Cinnabar has applied to the Financial Institutions Regulatory Authority for a 3: 1 forward split, which, when approved, will effectively increase the issued and outstanding shares of Cinnabar’s common stock to approximately 19 million (19,000,000) shares, with a float of 4 million (4,000,000) shares.
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