LOS ANGELES, May 5, 2014 (GLOBE NEWSWIRE) -- PacificWave Partners Limited (PacificWave Partners), an innovatory global merchant bank and investment management firm, announced that on May 1, 2014 it closed, on behalf of itself and a group of private investors based in Europe, the acquisition of a controlling interest in CoConnect, Inc. (OTCQB:CCON), a publicly traded Nevada corporation (the Company). The transaction consisted of the purchase from three of the Company's shareholders of 2,582,767 shares of the Company's common stock, representing 93.9% of the outstanding shares (excluding options and warrants). In addition, the selling shareholders surrendered for cancellation 100,000 shares of the Company's Series B Preferred Stock. Other terms of the transaction were not disclosed. The Company is a publicly traded shell corporation with no current operations.
Henrik Rouf, Managing Director of PacificWave Partners, stated: "With the acquisition of a controlling interest in CoConnect, Inc., and the related private financing, we now have a platform for the acquisition of an operating company through a reverse merger or similar transaction. We are currently in the process of evaluating potential acquisition target companies in the global luxury chocolate and related cocoa industry sectors."
About PacificWave Partners
PacificWave Partners is a privately held global merchant bank and investment management firm. The Company provides a wide range of financial services to privately held and publicly traded companies in the United States, Europe and Asia. Services include investment management solutions for high-net-worth individuals, assistance with private placements, reverse mergers and alternative public offerings. Founded in 2004, the firm is headquartered in Los Angeles with representative offices in Luxembourg.
Disclaimer – Forward Looking Statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements; projected events in this press release may not occur due to unforeseen circumstances, various factors, and other risks identified in a company's annual report on Form 10-K and other filings made by such company.
Information found on PacificWave Partners' website and the website of CoConnect, Inc. is not incorporated by reference.