Palm Coast, FL, March 30, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- RushNet Inc. (OTC Pink: RSHN) - Effective immediately, RushNet Inc. and StopDrops, Inc. entered into a termination agreement, as to the StopDrops acquisition.
While the timing for the acquisition appeared to be perfect at the time, with the economic consequences attending the Covid-19 outbreak, the parties determined to abandon this initiative. However, the companies and the principals will continue to work together to enable RushNet and its joint venture companies to benefit from the retail outlet connections enjoyed by StopDrops.
There will be no reverse stock split. That has been abandoned.
About RushNet, Inc.
RushNet, Inc’s. basic business model is edibles and beverages based company with a number of stand-alone products, including many enhanced with CBD. These products are designed to take advantage of all natural and non-GMO grown foods, pristine mineral water enhancement, and full-spectrum, broad-spectrum CBD and other rare cannabinoids.
This document contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, which are subject to a number of risks and uncertainties, many of which are outside RushNet’s control. These include but are not limited to the impact of competitors’ products, services and pricing; product demand; market acceptance; new product development; reliance on key strategic alliances; the regulatory environment; fluctuations in operating results; and other risks which are detailed from time to time in the Company’s filings with the Securities and Exchange Commission and/or OTC Markets. RushNet disclaims any obligation to update or alter its forward-looking statements whether as a result of new information, subsequent events or otherwise.
CONTACT: RushNet, Inc.