LAS VEGAS, NV — (Marketwired) — 12/17/15 — (OTC: EFFI) is pleased to announce the reverse merger of Red Light Bakers, LLC and its complimentary “sister” companies (collectively RLB). RLB has no debt and is currently generating positive cash flow. In consideration for this transaction RLB was issued 160 MM restricted common shares of stock making it the majority owner.
The newly merged company–s core business focus is on sales of hardware and nutrients into the hydroponics and indoor plant growth markets. RLB has secured exclusive rights to distribute a commercial nutrient line into the hydroponics and indoor plant growth markets, has received orders to supply private label plant grow lighting, has an established edible line of baking mixes and brings a developed line of indoor grow light safety sunglasses.
Brian Tucker and Dr. John (Jack) Morris have been named President and CEO respectively. In addition, Dr. Morris was named Chairman and Mr. Tucker will be a member of the Board of Directors. The company plans on bringing on additional members to its Board and is targeting executives with experience commensurate with the Company–s core business.
Mr. Tucker has worked in the garden industry for over 15 years including almost 3 years as a General Manager Expatriate in Shanghai China establishing a $150 MM procurement office for Fiskars Corporation, a manufacturer and distributor of mass merchant/big box garden products. He brings over 8 years of sales into the hydroponic and indoor plant growth markets. Most recently he successfully started, managed and sold an indoor plant grow lighting business with total sales of over $11M USD.
Tucker brings over 8 years of sales into the hydroponic and indoor plant growth markets. He successfully started, managed and sold an indoor plant grow lighting business with total sales of over $11M USD. Dr. Morris, an engineering Ph.D., brings a wealth of experience including management positions in Bell Laboratories and Lucent Technologies. Recently Dr. Morris has focused on emerging growth business opportunities, raising and managing capital for LED lighting and other technology businesses. With his background in engineering, manufacturing and operations management, he will focus on making prudent acquisitions and seamless integrations to optimize shareholder value.
While Company execs see exponential organic growth within the business, management has also identified several acquisition opportunities. These acquisitions will rapidly expand the Company–s distribution and product portfolio.
Dr. John Morris said, “We would like to thank shareholders of EFFI as we implemented this reverse merger. We are excited about our future and look forward to sharing new and exciting material events with our shareholders as they unfold.”
“We plan on updating shareholders periodically on using the “Additional Disclosures” feature. Please see this link for updates regarding our recent filings and disclosures.”
For more information please contact:
John (Jack) Morris
609.504.0494
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