Stevva Ltd. acquired Homie Recipes, Inc. in a reverse merger transaction.
August 16, 2017
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Stevva Ltd. acquired Homie Recipes, Inc. (OTCPK:HOMR) in a reverse merger transaction on August 14, 2017. The transaction was structured as the purchase by Homie Recipes of 100% of the outstanding stock of Stevva in exchange for 45 million shares of common stock of Homie Recipes. Concurrently with the closing of the agreement, and as a condition thereof, Homie Recipes’ majority shareholder cancelled 39 million shares of Homie Recipes's common stock beneficially owned by him and such shares were returned to the treasury. Accordingly, immediately after the closing, and upon the issuance of the consideration shares, the combined company has a total of 75.2 million shares of common stock issued and outstanding. As of the closing, Stevva shareholder is the beneficial owner of approximately 59.35% of the issued and outstanding shares of the combined company's common stock, and therefore gained control of Homie Recipes. As a result of the transaction, the combined public company is no longer a shell corporation.
The Board of Directors and management, after the transaction, are comprised of Stevva’s management team. Furthermore, the operations of Stevva are the continuing operations of the company. As of August 14, 2017, Jose Mari C. Chin resigned from all positions, including but not limited to those of President, Chief Executive Officer, Secretary and Director. Also, as of August 14, 20017, Theodoros Kerasidis was appointed a member of the Board of Directors and as President, Chief Executive Officer, Chief Financial Officer and Secretary. The transaction is subject to conditions including approvals of any governmental or regulatory authority among other conditions. The Board of Directors of Stevva has approved the agreement and the transactions.
Stevva Ltd. completed the acquisition of Homie Recipes, Inc. (OTCPK:HOMR) in a reverse merger transaction on August 14, 2017.
Stevva Corp, formerly Homie Recipes, Inc., is engaged in cultivating Stevia. Stevia is a low-carbohydrate, low-sugar food and beverage ingredient. Stevia has zero-calories and is sweeter than sugar. Stevia is a natural sweetener used to reduce sugar and synthetic sweeteners as aspartame or sucralose. The Companyâs product can be used as zero calorie sugar substitutes, sweetener in beverage production, sweetener as a food and confection additive, preservative, health and dietary supplement, medicine, and pharmaceutical products. The food and beverage uses of Stevia includes carbonated soft drinks flavored vitamin water, energy and sports drinks, fruit juices and drinks, bottled and canned tea, dry beverage mixes, yogurts, pickles, seafood, meat and vegetable products and gums and candies. The company operates through approximately six acres of farmlands in Pella Giannitsa, Greece. The Company operates through its subsidiary, which is Stevva Ltd.