GreenKraft Inc. entered into a share exchange agreement to acquire Sunrise Global Inc. (OTCPK:SGBL) in a reverse merger transaction on December 5, 2013. Under the agreement, Sunrise Global Inc. agreed to issue 41.5 million shares representing approximately 97.5% of issued and outstanding common stock immediately following consummation of the acquisition. As a condition to the closing of the acquisition, 2.3 million shares previously held by Greenkraft were cancelled. Following the acquisition, the combined entity intends to conduct the business of GreenKraft Inc.

The number of Board of Directors were increased from one to five and Directors of Greenkraft, Sosi Bardakjian, Evan Ginsburg, Assadour (Ace) Sarafian and Miguel Pulido were appointed on Board. The transaction is subject to approval by the Board of Directors of Sunrise Global. Board of Directors of Sunrise have determined that acquisition is desirable and in the best interest of their respective stockholders.

GreenKraft Inc. completed the acquisition of Sunrise Global Inc. (OTCPK:SGBL) in a reverse merger transaction on December 6, 2013.