HOUSTON–(BUSINESS WIRE)–ONE WORLD HOLDINGS, INC.-–The One World Doll Project, subsidiary
of One World Holdings, Inc. (OTCQB: OWOO) announced that on February 25,
2016 the company filed a Current Report on Form 8-K with the U.S.
Securities and Exchange Commission detailing the formation of a new
company, Tonner-One World, a Texas Corporation and wholly owned
subsidiary of One World Holdings, Inc. The Report also disclosed that
the new company is in the final stages of securing a multi-year
licensing deal with a major television and film studio, the decision to
cancel a previously announced proposed merger, and terminate the merger
agreement, with The Tonner Doll Company in order to pursue business
under Tonner-One World.
Following the execution of the Merger Agreement on December 2, 2016 and
prior to the closing, management of One World Holdings, The One World
Doll Project (OWDP), and Tonner reviewed and discussed potential
alternative structures between OWDP and Tonner other than the Merger,
including the formation of a new subsidiary of One World Holdings.
Following those discussions, management of One World Holdings, OWDP, and
Tonner determined it to be in the best interests of their respective
companies to terminate the Merger and explore other opportunities. The
termination of the proposed merger and the merger agreement did not
result from a disagreement between the parties, or from any information
discovered about any of the companies during the due diligence process
or the preparation of the financial statements of Tonner.
“We are very excited to announce our being in the final stages of
securing a licensing agreement with a major television and film studio
within just a week of our appearance at Toy Fair 2016,” stated Joanne
Melton, CEO of One World Holdings. “We believe that this deal, in tandem
with other pending licensing deals, is a validation of our belief that
our partnership with Tonner Doll Company has the potential for massive
success,” she added.
One World Holdings plans to issue a press release to announce the name
of the studio and the first project Tonner-One World will be working on
as soon the release has been cleared by the studio. One World Holdings
will also release an online interview with Robert Tonner, CEO of Tonner
Doll Company and Trent T. Daniel, founder of The One World Doll Project
to discuss these projects in greater detail.
About Tonner-One World
More information about Tonner-One World log onto at tonneroneworld.com.
Notice Regarding Forward-Looking Statements
Safe Harbor Statement under the Private Securities Litigation Reform Act
of 1995: This news release contains forward-looking information 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,
including statements that include the words “believes,” “expects,”
“anticipate,” “plans,” or similar expressions. Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause the actual results, performance or achievements
of the Company to differ materially from those expressed or implied by
such forward-looking statements. In addition, description of past
success, either financial or strategic, is no guarantee of future
success. This news release speaks as of the date first set forth above;
and the Company expressly disclaims responsibility to update the
information included herein for events occurring after the date hereof.
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One World Holdings, Inc.