Enviro-Serv, Inc. Announces Securing and Initial Funding of Pending Acquisition Definitive Asset Purchase Agreement
21 Maggio 2014 - 2:45PM
Marketwired
Enviro-Serv, Inc. Announces Securing and Initial Funding of Pending
Acquisition Definitive Asset Purchase Agreement
TAMPA, FL--(Marketwired - May 21, 2014) - Enviro-Serv,
Inc. (OTC: EVSV), a growing company in the commercial and
residential property maintenance industry, is pleased to announce
that terms and due diligence for the previously announced LOI, have
been finalized by both parties and the definitive asset purchase
agreement is signed and secured.
The target acquisition is on track to meet or exceed revenue
expectations of $1.1m for 2014 and is ahead of last year's sales
YTD. 2015 revenues are expected to reach $1.50m with
cumulative growth as the acquisition at hand becomes effective
toward expansion both geographically and in terms of services and
overall capabilities. Also included in the acquisition are
materials and equipment valued at $100,000.
As well, the initial non-refundable down payment of $42,500 to
effect the transaction has been sent and secured by the contract
attorney in his escrow trust account as of yesterday.
"This acquisition is a major milestone in laying the foundation
for Enviro-Serv to position itself as a leading contender in the
Tampa Bay pest control market and surrounding territories," states
EVSV CEO, Chris Trina. "The terms of the contract being made public
are as follows; $850,000 total purchase price, $557,500 due at Oct.
15th closing date, 10-year 6% note payable on $250,000 balance.
This is the busiest termite season Tampa has seen in the last
decade and our subsidiary, X-Terminate has increased its fumigation
business exponentially thanks to a strategic partnership with our
target acquisition company." Regarding funding of this acquisition
Trina stated, "We announced just yesterday another major milestone
event in our filing of a REG-A offering with the SEC to raise $1.5M
along with an investment agreement from the NY based firm who's
been successfully funding EVSV since last August. A Tampa
institutional investor has verbally committed $100,000 towards the
needed balance to close and I am staying committed to adding
personal funds if a shortfall were to occur as well. Securing this
funding in a timely manner is of utmost priority but now that the
deal is inked we are on a quest to find additional targets and
continuing to build shareholder value."
Trina ended by saying this, "This is only added benefit in line
with our plans for the target acquisition, which will give us the
necessary market reach to take our enterprise to the next level, in
an industry that is only getting bigger by the year. The cost of
termite damage in North America alone runs into the tens of
billions of dollars. I greatly appreciate the support and patience
of our shareholders over the last 6 weeks in getting this deal
finalized."
Enviro Serv, Inc. (OTC: EVSV) is a Tampa based corporation
specializing in providing property maintenance services in
geographically concentrated warm climate states. Through an
aggressive acquisition strategy, the Company is building a
portfolio of highly profitable enterprises that offer year round
services such as pest control management, lawn and landscaping
care, pool maintenance, air conditioning/refrigeration installation
and repairs and a host of additional onsite maintenance
offerings. Please visit our websites at www.enviro-serv.com
and www.xterminateinc.com to learn more.
Forward-Looking Statements - This press release contains
"forward-looking statements" 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 and such
forward-looking statements are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Such statements are subject to risks and uncertainties that could
cause future results to differ materially from the forward-looking
statements. You should consider these factors in evaluating the
statements herein, and not rely solely on such statements. The
forward-looking statements in this release are made as of the date
hereof and Enviro-Serv, Inc. undertakes no obligation to update
such statements.
CONTACT: Chris Trina CEO Enviro-Serv, Inc. 813-975-7177
Grafico Azioni Enviro Serv (PK) (USOTC:EVSV)
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Da Dic 2024 a Gen 2025
Grafico Azioni Enviro Serv (PK) (USOTC:EVSV)
Storico
Da Gen 2024 a Gen 2025
