Makamer, Inc. completed the acquisition of Hometown International, Inc. in a reverse merger transaction.
April 31, 2022
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Makamer, Inc. entered into an agreement to acquire Hometown International, Inc. (OTCPK:HWIN) in a reverse merger transaction for $420 million on March 25, 2022. All of the shares of common stock held by consenting stockholders of Makamer will be exchanged for an aggregate of 30,000,000 shares of Hometown International's common stock, with each Makamer consenting stockholder receiving a pro rata portion of the merger shares based upon the total number of shares of Makamer common stock held by such Makamer consenting stockholder. Hometown International, Inc. will change its name to Makamer Holdings, Inc. and it will trade under a new trading symbol.
The transaction is subject to satisfactory completion of business and legal due diligence, obtaining all necessary consents, approval of the transaction by the boards of directors of Hometown and Makamer, approval of Hometown and Makamer shareholders, Hometown will have a cash balance in its primary bank account of no less than $1,000,000, the number of Dissenting Shares shall not exceed 5% of the number of outstanding shares of Makamer common stock, execution of ancillary documents appropriate for transactions of this type, and certain other closing conditions. Makamer and Hometown board of directors have unanimously approved the transaction. Eric Mendelson of The Crone Law Group, P.C. acted as legal advisor to Hometown. Craig A. Wolson and Jessie Weiner of YK Law LLP acted as legal advisor to Makamer.
Makamer, Inc. completed the acquisition of Hometown International, Inc. (OTCPK:HWIN) in a reverse merger transaction on April 1, 2022.
Makamer Holdings, Inc. is a bioplastic technologies company. The Company specializes in the development of hemp-based polymers that are fully composable within four months and leave no trace toxins or microplastics behind. The Companyâs proprietary hemp-based resin was developed in order to provide alternatives to non-compostable food packaging materials on the market. Its resin can be utilized to produce a range of products that would replace polyethylene plastic bags, polypropylene cups, recycled polyethylene terephthalate (rPET) water bottles, and many other products. The Company through its wholly owned subsidiary, Your Hometown Deli, LLC (Your Hometown Deli), operates a delicatessen store that features home-style sandwiches and other entrees in a casual and friendly atmosphere. The store is designed to offer local patrons of all ages with a comfortable community gathering places.