Calgary, Oct. 21 - SLAP, Inc., today announced that it has entered into discussions to acquire a company with operations in the coffee industry.
Management of the Company has been presented with an opportunity to acquire a company that currently holds a minority interest in a coffee processor in mainland China. The target acquisition company’s business plan is to become a significant force in the coffee business by way of ownership roles in all aspects of bringing coffee to market.
SLAP, Inc. currently operates in the oil and gas industry and expects to continue such operations. Should the Company reach an agreement with the acquisition target, the coffee operations would operate under a wholly-owned subsidiary of the Company and independent from its oil and gas operations.
Management of the Company has determined that it would be prudent to undertake a re-structuring of the shares of the Company prior to any acquisition and has therefore determined to undertake a forward split of its authorized and issued common shares on the basis of 9:1. The Board of Directors has approved the forward split and set a record date for the forward split of October 22, 2009.