INTERNATIONAL STAR (OTC:ILST) ANNOUNCES PLANNED EXERCISE OF OPTION TO COMPLETE ACQUISITION OF BUDDING EQUITY AND ELECTION OF NEW DIRECTOR
MIDDLETOWN, Del., Oct. 25, 2022 /PRNewswire/ -- International Star, Inc. (OTC:ILST) (the "Company" or "ILST") today announced the election of Avi Minkowitz as the newest member of its Board of Directors. The Company also announced that it is in the final stages of exercising its option to purchase 100% of the outstanding shares of Budding Equity, Inc.
Election of New Board Member
On October 20, 2022, Avi Minkowitz was elected to the Company's Board of Directors. A long-time entrepreneur with a passion for business development, Mr. Minkowitz started working with Leonite Capital in 2021 after a successful tenure at Parkit Enterprise Inc., a publicly-held Leonite portfolio company. Avi's experience includes real estate financing and acquisition, management, debt, and business development at publicly held and private companies. Prior to his career in finance, Avi co-founded two companies that were sold in 2012 and 2018. Avi serves in an advisory role for various startups, real estate financing firms and other businesses.
Acquisition of Budding Equity
The Company has given notice to the shareholders of Budding Equity of its exercise of its option to purchase 100% of the issued and outstanding shares of Budding Equity, the Canadian-based company that partners with movie studios and celebrities to monetize their intellectual property in the global cannabis industry, using best in class manufacturers and distributors. As a result of this transaction, ILST will become Budding Equity's sole owner.
Commenting on his election and the Budding Equity acquisition, Mr. Minkowitz stated: "I am thrilled to be joining ILST's Board at this exciting time, as the Company is moving into the final stages of its acquisition of Budding Equity, and I intend to work to help ensure a smooth transition of businesses to ILST once the structure of the merger has been finalized and to help bring shareholder value by providing knowhow and market knowledge."
Nochum Greenberg, Chairman and interim CEO of the Company added: "We welcome Avi as a Director and are confident that he will add much value to the Board and the Company as we move into the future. We are also excited about the Budding Equity acquisition and the potential that it represents. We are aware of the many tweets and requests for information our shareholders have been sending and we will be sharing more information to help shareholders understand our vision."
Information about ILST can be found at:
International Star Inc. has historically been focused on mineral property interests. In June 2022, a controlling stake in International Star was acquired by ILST Holdco LLC. Under its new management, the Company's strategic objective is to build a successful and financially robust enterprise which will consistently create and build stakeholders' value.
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include but are not limited to: the impact of economic, competitive, legal, regulatory and other factors affecting the Company and its operations, markets, product, and distributor performance.
Contact:
International Star, Inc.
8 The Green STE A
Dover, DE 19901
E-mail: [email protected]
SOURCE International Star Inc.
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