OTCPK:DDBXF - Post Discussion
Post by
Lush223 on Oct 02, 2019 9:56am
News release Oct 2nd 🤦🏼♂️
Data Deposit Box Announces Strategic Review
Toronto, Ontario--(Newsfile Corp. - October 2, 2019) - Data Deposit Box Inc. (CSE: DDB) (OTC Pink: DDBXF) (FSE: 2DD) (the "Company"), a global provider of cloud backup and recovery technology, announces that following the announcement of the passing of the Company's founder and Chief Executive Officer, Tim Jewell, its board of directors (the "Board") has determined that it is in the best interest of the Company and its stakeholders to initiate a formal process to explore strategic alternatives.
This process is intended to evaluate the Company's strategic options and alternatives to maximize shareholder value. Such strategic alternatives may include, but are not limited to, a corporate sale, merger or other business combination, a disposition of all or a portion of the Company's assets, a recapitalization, refinancing of its capital structure, or any combination of the foregoing.
The outcome of the strategic review process will depend on the opportunities which arise within such process and there can be no assurance that the strategic process will result in the realization of any specific transaction or agreement.
The Board will undertake a broad review of the potential alternatives to enhance stakeholder value. Given the nature of the strategic alternatives process, the Company does not intend to provide updates until such time as the Board approves a definitive transaction or strategic alternative, or otherwise determines that further disclosure is necessary or appropriate.
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