Lady Lake, FL - (NewMediaWire) - May 10, 2021 - Palayan Resources, Inc. (the“Company” or “Palayan”) (OTCMarkets: PLYN), a publicly traded, fully reportingemerging growth company, reports that the previously reported joint venture withProvenance Gold Corp. has beenrescinded. The rescission was mutually agreed to and requires no furtheraction.
Managementrecognizes the Company needs to move in a new direction and will pursueacquisition opportunities that will benefit private companies through PLYN’spublic status. The benefit to the Company and its shareholders will be fromacquisitions based on growth and revenue of targeted acquisitions.
PLYN willbe restructured as a holding company seeking transactions on a managed basis,acquiring controlling interests in acquisition targets as subsidiaries of theCompany. Using a holding company strategy, the company will be able to mitigaterisk while making multiple acquisitions. All targeted acquisitions must beaudited or auditable.
The Companywill make either majority or minority investments in companies that meet itsinvestment criteria.
As aholding company PLYN will not manufacture anything, sell any products orservices, or conduct any other business operations. Its purpose, as the nameimplies, is to hold the controlling stock or membership interests in othercompanies.
The Companyis taking an agnostic approach regarding industry. In almost every contemplatedacquisition PLYN will retain the acquired management team. The subsidiary,having its own management, will run the day-to-day business. Theretention of management post-transaction will maintain operational continuity.PLYN’s management will be responsible for overseeing the operations of thesubsidiaries and assisting management as needed.
The Companyis seeking opportunities in mature private companies in transition or growthmode. Management has begun sourcing opportunities through a number ofthird-party organizations. Transactions will be subject to industry standarddue diligence requirements. Of course, no two acquisitions are the same, so thedue diligence process will vary from one situation to the next. In general,however, there are up to five types of due diligence; (i) Business; (ii)Accounting; (iii) Legal; (iv) Valuation and (v) Environmental, that will needto be completed as part of the process for any proposed transaction.
The Companyhas renewed its Consulting and Services Agreement with Cicero Transact todevelop a new web and social media presence based on the Company’s new growthstrategy, as well as identify potential acquisition targets.
AboutPalayan Resources, Inc.
PalayanResources, Inc. is an emerging growth company. The Company will focus onpursuing acquisition opportunities that can benefit private companies throughPLYN’s public status, acquiring revenue producing transactions. Headquarteredin Lady Lake, FL, Palayan Resources is aiming to build a portfolio of companiesthat generate revenue and profitability.
For moreinformation:
Contact usvia:
info@palayanresourcesinc.com
Phone:(407) 536-9422
CautionaryNote to U.S. and Foreign Investors
PalayanResources Inc., (PLYN) a public shell company that has its common stock tradeon OTCMarkets under the symbol “PLYN”. PLYN files information withOTCMarkets. PLYN is a going concern. The reports filed with OTCMarkets shouldbe read by any potential investor prior to making an investment decision. Theinformation filed with OTCMarkets is available at http://www.otcmarkets.com/stock/PLYN/quote.
PalayanResources Inc. (“the Company”), a Nevada corporation, is being reorganized as aholding company.
The Companybecame a public company on July 26, 2013. On November 12, 2014, the Company’sS1 went effective, the shares from the S1, as off the current date, are allfree trading, there are 29,948,000 unrestricted shares available in the market,29,558,879 held at DTC.
ForwardLooking Statements – Safe Harbor
This newsrelease contains "forward-looking statements" which are not purelyhistorical and may include any statements regarding beliefs, plans,expectations or intentions regarding the future. Such forward-lookingstatements include, among other things, the development, costs and results ofnew business opportunities and words such as "anticipate","seek", intend", "believe", "estimate","expect", "project", "plan", or similar phrasesmay be deemed "forward-looking statements" within the meaning of thePrivate Securities Litigation Reform Act of 1995. Actual results could differfrom those projected in any forward-looking statements due to numerous factors.Such factors include, among others, the inherent uncertainties associated withnew projects, securing necessary financing, the future of the U.S. and globaleconomies, the impact of competition, and the Company's reliance on existingregulations pertaining to the mining and exploration of mineral properties.These forward-looking statements are made as of the date of this news release,and we assume no obligation to update the forward-looking statements, or toupdate the reasons why actual results could differ from those projected in theforward-looking statements. The Company has no mineral resource or reserveestimate in any project at this time and may not have sufficient funding tothoroughly explore, drill or develop any mineral rights. Although we believethat any beliefs, plans, expectations and intentions contained in this pressrelease are reasonable, there can be no assurance that any such beliefs, plans,expectations or intentions will prove to be accurate. Investors should consultall of the information set forth herein and should also refer to the riskfactors disclosure outlined in our annual report on Form 10-K, our quarterlyreports on Form 10-Q and other periodic reports filed from time-to-time withthe Securities and Exchange Commission. For more information, pleasevisit www.sec.gov.
Source:Palayan Resources, Inc.