Attached files
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| EX-99.1 - STOCKHOLDER LETTER DATED DECEMBER 20, 2016 - root9B Holdings, Inc. | rtnb_ex991.htm |
| EX-10.1 - STOCK PURCHASE AGREEMENT - root9B Holdings, Inc. | rtnb_ex101.htm |
| 8-K - CURRENT REPORT - root9B Holdings, Inc. | rtnb_8k.htm |
Exhibit 99.2
root9B Holdings Announces Definitive Agreement for the Sale of CEI
Subsidiary
Company Announces Availability of Chairman’s Letter to
Stockholders
Colorado Springs, CO – December 20, 2016 –
root9B Holdings, Inc. (OTCQB:
RTNBD) (“Company”) today announced the signing
of a definitive stock purchase agreement for the sale of its
wholly-owned subsidiary Control Engineering, Inc.
(“CEI”). Closing of the transaction, which is subject
to certain specified terms and conditions, is expected by December
31, 2016.
“The
sale of CEI, once consummated, is an incremental yet important step
towards our goal of becoming a pure play cybersecurity
company,” said Dan Wachtler, President & Chief Operating
Officer of root9B Holdings. “Although CEI was a very small
part our overall business, we will benefit from the elimination of
associated operating expenses and can more fully focus management's
resources on executing our ongoing strategic initiatives. We are
confident that each of us will be in a better position to grow our
two distinct businesses as independent and separate
companies.”
The
Company also announced the availability of a Letter to Stockholders
from Joseph J. Grano, Jr., Chairman and CEO of root9B Holdings,
which may be accessed at the “Investor Relations”
section of the Company’s website, www.root9bholdings.com
Additional
information regarding the sale of CEI is available in a Form 8-K
filed by the Company with the Securities and Exchange Commission on
December 20, 2016.
About root9B Holdings, Inc.
root9B
Holdings is a leading provider of Cybersecurity and Regulatory Risk
Mitigation Services. Through its wholly owned subsidiaries root9B
and IPSA International, the Company delivers results that improve
productivity, mitigate risk and maximize profits. Its clients range
in size from Fortune 100 companies to mid-sized and owner-managed
businesses across a broad range of industries including local,
state and government agencies. For more information,
visit www.root9bholdings.com
Forward Looking Statements
Certain
information contained in this press release may include certain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, including statements
regarding the pending sale of CEI and the Company’s ongoing
transition into cybersecurity firm. These statements are based on
the Company’s current expectations or beliefs and are subject
to uncertainty and changes in circumstances. Actual results may
vary materially from those expressed or implied by the statements
herein due to changes in economic, business, competitive and/or
regulatory factors, and other risks and uncertainties affecting the
operation of the Company’s business. These risks,
uncertainties and contingencies are indicated from time to time in
the Company’s filings with the Securities and Exchange
Commission. The information set forth herein should be read in
light of such risks. Further, investors should keep in mind that
the Company’s financial results in any particular period may
not be indicative of future results. The Company is under no
obligation to, and expressly disclaims any obligation to, update or
alter its forward-looking statements, whether as a result of new
information, future events, changes in assumptions or
otherwise.
# # #
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Media
Contact:
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Investors:
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Andrew
Hoffman
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Devin
Sullivan
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Zito
Partners
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The Equity Group
Inc.
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908-546-7447
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212-836-9608
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andrew@zitopartners.com
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dsullivan@equityny.com
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