Wednesday October 28,2015 : OLYMPIAN GROUP TO MERGE WITH U.S. COFFEE LID MANUFACTURER
Focus will be on GR88’s Asian expansion.
Parent company of online gambling operator GR88, Olympian Group, has entered into a merger agreement with Nevada-based disposable coffee lids manufacturer Coastal Integrated Services (CIS).
CIS will acquire 100 percent of the Olympian Group for an undisclosed consideration.
Part of the Merger Agreement includes a corporate reorganisation which will include a 1-for-100 reverse stock split positioning the company to qualify for NASDAQ listing in the next 12 months, explained CIS chief, Clifford Redekop.
Following the acquisition CIS intends launching into targeted Asian markets backed up by a newly visualised marketing campaign.
“Olympian’s Sportsbetting and Casino brand www.GR88.com, was originally conceptualized as an Asian gaming site in 2009, and now with over 6 years of successful gaming operations, our team feels very strongly that the timing is perfect for the full B2C push into Asia,” Redekop said.
“We know we have something special with this brand and will focus on Gr88 as our flagship site with significant marketing and driving brand recognition.”