Greenlite
Ventures Completes First Acquisition
Boca Raton, FL -- February 23,
2023 -- InvestorsHub NewsWire -- Greenlite Ventures, Inc (OTC
PINK: "GRNL") is pleased to announce the closing of an Asset Purchase
Agreement with Artinian LLC, parent company of Game Time Watches
and Game Time Bands. Game Time is the leader in licensed sports
watches having active, ongoing license agreements with the NFL,
MLB, NHL, NASCAR, and WWE, along with several iconic
athletes and brands. Some of the
assets being conveyed in this Agreement are subject to third party
approvals which are expected to be finalized in the coming
weeks.
The Game Time acquisition has
been added as a "subsequent event" in GRNL's latest quarterly
disclosure filing which will result in the
removal
of the Company's shell
designation. GRNL intends to do business as Game Time Productions
and will formally amend its name and trading symbol with FINRA as
soon as it is practicable. Adam Pennington, founder and CEO of
Artinian LLC and its subsidiaries will be GRNL's new CEO and will
join Russell Elbaum on the Company's Board.
"Game Time is the company
we
hoped to build around when we
took control of GRNL just a few months back and we are
ecstatic that we've been able to expeditiously close this
deal,"
said Elbaum. "Game Time provides
us with a
profitable seven figure revenue
base to grow from as well as access to virtually every top
professional league, team, and player we may want to partner with.
With the nonstop media attention surrounding sports today, athletes
and former athletes have become the biggest celebrities and most
popular people on the planet and Game Time Productions plans to
take full advantage of this reality."
Adam Pennington concluded, "GRNL
is an exciting strategic fit for us and greatly enhances our ability to achieve
aggressive growth targets and objectives for the coming years. I
personally have had an inside view of the explosion in sports
licensing and merchandising over the last 20 years and it just
continues to accelerate. We have constructed a growth model that
includes immediate horizontal and vertical acquisitions as well as
collaborations with some of the biggest athletes and celebrities in
our industry. Russ has already put together a wonderfully talented
executive team and together I believe we can make Game Time one of
the most recognizable brands in all of sports."
For more information about Game
Time please visit gametimewatch.com
Safe Harbor
A "safe harbor" for
forward-looking statements is provided by the Private Securities
Litigation Reform Act of 1995 (Reform Act of 1995). The Reform Act
of 1995 was adopted to encourage such forward-looking statements
without the threat of litigation, provided those statements are
identified
as forward-looking and are accompanied by meaningful cautionary statements identifying important factors that
could cause the actual results to differ materially from those
projected in the statement. Forward-looking statements have been
and will be made in written documents and oral presentations of Greenlite Ventures, Inc., statements are based on management's beliefs, as well as
assumptions made by and information currently available to
management.
When used in this press
release, the words "believe", "anticipate", "endeavor",
"estimate",
"expect", "objective", "projection", "forecast", "goal" and similar expressions are intended to identify
forward-looking statements. In addition to any assumptions and
other factors referred to specifically in connection with such
forward-looking statements, factors that could cause Greenlite Ventures' actual results to differ materially from those contemplated in any forward-looking
statements
Media
Contact: Jeff DeForrest
954 288 4725