Genuine Marketing Group Inc. completed the acquisition of The World Poker Store, Inc. in a reverse merger transaction.
Genuine Marketing Group Inc. completed the acquisition of The World Poker Store, Inc. (OTCPK:WPKS) in a reverse merger transaction on August 11, 2022. Under terms of the Merger, the shareholders of GMG exchanged all their outstanding shares of common stock of GMG on a pro rata basis for approximately 90% of the post-merger outstanding common stock of the combined company, resulting in the pre-merger shareholders of World Poker now owning approximately 10% of the outstanding common stock of combined company. As of August 11, 2022, The World Poker completed a 1-for-10 Reverse Stock Split and changed its corporate name to Genuine Marketing Group Inc. and its stock trading symbol to GMGZ. The post-merger management of both the Company and GMG will remain the same as before the merger. World Poker's common stock will begin trading on a split-adjusted basis on Thursday, August 11, 2022, under its new CUSIP number; and its trading symbol will change to WPKSD for a period of 20 business days, after which the "D" will be removed from the trading symbol and it will become GMGZ.