SCOTTSDALE, Ariz., Nov. 14, 2016 (GLOBE NEWSWIRE) -- On November 1, 2016, NOHO, Inc. (OTCQB:DRNK), a Wyoming corporation (the "Company") announced the following: The Company has negotiated letters of intent to acquire the assets two companies: - Essential Marketing Systems, LLC, of Scottsdale, Arizona - ChoiceAdz.com, Inc., operating as BizConnect360.com, of Yorba Linda, California. ChoiceAdz.com has already done $350,000 in revenue in 2016 and is operating profitably. Its projected revenue for 2017 is well beyond $1,800,000. These companies presently operate in the advertising technology space and the acquisitions will expand the Company's product lines to offer customers a bundled suite of advertising and business services from a streamlined and direct platform. These acquisitions are anticipated to be completed by December 15, 2016. These acquisitions will be achieved by using the newly issued preferred shares and there will be no dilution to the existing common shareholders. The 54 billion shares of common stock exchanged by NOHO in the share exchange agreement with Media360 Licensing, Inc. on September 9, 2016, shall be retired and reissued as preferred shares on a ratio basis consistent with the share exchange agreement. In order for the Company to convert the newly issued preferred shares, a filing will be required. Expansion of Cannabis Advertising Platform Based on the results of the proven concept in Colorado, the Company is expanding its Cannabis advertising platform to all states where recreational Cannabis is permitted under state law. NOHO, Inc., CEO David Mersky stated: "These are exciting times for the company. Our strategy for growth will see us continue making revenue producing acquisitions. In keeping with our plans to expand within the cannabis sector we have started due diligence on several acquisition candidates. We look forward to announcing updates as developments occur. " The Company has authorized its counsel to effectuate a name change from NOHO, Inc. to IMBUTEK Corporation, seeking to trade under the new proposed symbol of "IMTK", or if not available then "IUTK' or "IBTK." This change is intended to more accurately reflect the nature of the Company's core advertising technology business. Until that process is completed, the stock will continue to trade under its current symbol: DRNK.