COMMERCE, Mich., June 6, 2015 /PRNewswire/ -- iTeknik Holding Corporation (Other OTC:ITKH), a leader in the telecommunications industry today announced the results of a Board of Directors meeting held on April 2, 2015.  The Board has authorized management to seek up to $5,000,000 in capital in order to implement the following activities.

  • Provide acquisition capital to accelerate iTeknik's merger/acquisition strategy
  • Uplift the Company to become fully reporting
  • Provide Send Global with funding to launch several new products and to recruit key sales executives in important U.S. markets

Fredrick W. Wicks, Chairman and CEO of iTeknik Holding Corporation, stated, "The Board has decided to renew our strategy as a holding company.  We are in discussions with a number of companies to implement a strategy of growth through merger or acquisition. We are no longer actively pursuing the divestiture of Send Global. In fact we have secured capital and invested in Send Global's growth program. At the same time we are in the process of restructuring iTeknik in order to facilitate the change in strategy."

iTeknik Holding Corporation (OTC Pink:ITKH) is classified as "Current Information"  and trades on the OTC Pink tier of the OTC Market.  For quotes and market information on the company, visit http://www.otcmarkets.com/stock/ITKH/company-info.

About iTeknik Holding Corporation

Through its Send Global subsidiary, iTeknik provides wholesale and retail telecommunications services, and products worldwide. Its services include voice over Internet protocol origination and termination; A-Z routing and switching; and wholesale carrier routing services; Web-based reseller solutions; prepaid calling solutions; international cellular calling; and retail point of sale solutions. The company serves B2B carriers, telecom resellers, retail outlets and consumers through websites such as www.MyMobile011.com, www.GreatMinutes.com, www.AloBilady.com, www.IndiaMinutes.com and www.MexicoMinutes.com.  iTeknik Holding Corporation was founded in 2007 and is based in Commerce, Michigan. Through its subsidiaries, iTeknik has more than 19  years of history in the telecommunications industry. For more information visit website www.iteknik.com and www.sendglobal.com.

Safe Harbor: This document contains certain 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, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainty, including without limitation, the ability of the Company to successfully implement its turnaround strategy, changes in costs of raw materials, labor, and employee benefits, as well as general market conditions, competition and pricing. Although the Company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this letter will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as representation by the Company or any other person that the objectives and plans of the Company will be achieved. In assessing forward-looking statements included herein, readers are urged to carefully read those statements. When used in the Annual Report on Form 10-K, the words "estimate," "anticipate," "expect," "believe," and similar expressions are intended to be forward-looking statements.

 

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SOURCE iTeknik Holding Corporation

Copyright 2015 PR Newswire

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