Renavotio,
Inc. Announces $10 Million in Equity Line
Funding
Tulsa, Oklahoma
-- October 16, 2020 -- InvestorsHub
NewsWire -- Renavotio, Inc. (OTCQB:
RIII), (the
"Company," or "Renavotio"), announced today that the
Company's recently filed S-1 has been declared effective. The S-1
registered 10,546,647
shares
that
includes 9,796,647 shares
of a
$10,000,000
equity line with
GHS Investments, LLC ("GHS") enabling RIII to access
equity capital
over the next 36 months.
GHS, a leading
private investment,
and management
group providing financing solutions for high potential small cap
enterprises, entered into the agreement with RIII following their
due diligence, interviews of management, and reviews of the
Company's financials and business plan. The Equity Agreement
provides RIII with the option to sell to GHS up to $10,000,000
worth of the Company's registered common stock over a
thirty-six-month period, with certain limitation amounts on the
amount and timing of each sale.
Under the terms
of the Equity Agreement, the Company has the right to
deliver from time to time a put notice to GHS stating the dollar
amount of put shares (up to $500,000 under any individual notice)
that it would sell to GHS. Each put notice to GHS states the
purchase price, the number of shares the Company is selling to GHS
and the dollar amount GHS is to deliver to the Company within one
day of receipt of the shares. The purchase price is calculated at
eighty (80%) percent of the market price per share. The market
price is calculated as the lowest closing price of the Company's
common stock for ten (10) consecutive trading days preceding the
put date.
Matthew
Schissler, member of GHS, stated, "RIII is unique and attractive to
us on several levels. RIII met our criterion for quality of
management, quality of controls, and quality of business and
business potential. We are very confident in the
management team's ability to continue to execute and we are excited
to play a key role in the Company's continued
growth."
"With the
Company's planned acquisition model and needed expansion capacity
for Utility Management Corp ("UMC"), our underground infrastructure
and Utility management
company, the planned entry into
the medical infrastructure market with development of a N95
mask manufacturing
facility,
and other market
driven medical Personal Protective Equipment
(PPE) market opportunities, our equity line
will give the
Company the ability to access capital from the market at the most
favorable times. We are excited to have such a
quality financing partner like GHS Investments to be part of the
RIII story. Since the Equity Agreement is
on a look-back basis and there are no make-up provisions, this is
truly a non-toxic equity investment. We plan to use the
proceeds
received
from the sale of
common stock under this agreement to retire debt, including toxic
convertible and high interest loans. Our goal is
to
provide
protection
for our
shareholders from unnecessary dilution as we build our Company's
cash flow and revenue opportunities." stated William "Billy"
Robinson, Renavotio's Chief
Executive Officer.
ABOUT GHS IINVESTMENTS, LLC:
GHS Investments is a
privately held fund focused on small to mid-cap Companies. GHS is
industry agnostic and focuses on "super value" companies with a
good operating entity and a strong management team.
ABOUT
RENAVOTIO, INC.:
Renavotio's business
focuses on infrastructure
opportunities, including medical protective
equipment,
5G, utility construction, utility management, IoT, water, waste
management technology, and related industries. The Company's business and
acquisition strategy concentrates on medical protective
equipment
and
infrastructure with utility construction
and
consulting/operational agreements with
small towns or county CO-OPS that operate their own water and sewer
systems, providing long-term savings, utilizing smart-utility
monitoring, and dedicated engineering and service personnel. These
platforms capture utility data from hand-held GPS devices or
in-place sensors, with planned use of drones to identify waste
contamination, leak detection, and topographic underground utility
installation planning. Renavotio's
wholly
owned subsidiary,
Utility Management Corp, is a holding company focused on
infrastructure, 5G, utility construction, utility management, IoT,
water and waste management technology, and related
industries. Utility Management
Corp's subsidiary, Utility
Management and Construction (UMCCO), is an engineering and smart
utility management company that provides a
one-stop solution to rural communities to reduce the consumption of
electricity, natural gas, and water utilities for commercial,
industrial and municipal end users. UMCCO's unique approach
creates immediate bottom line savings for its clients, by
providing
engineering, planning, permitting and
installation through their second wholly-owned subsidiary, Cross-Bo
Construction, which specializes in water, sewer, Telcom, and 5G
design and installation, establishing a long-term value proposition
while also achieving respective sustainability goals.
www.renavotio.com
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
INFORMATION:
This news release includes certain "forward-looking
statements" within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section
21E of the Securities and Exchange Act of 1934, as amended.
Forward-looking statements are necessarily based upon a number
of estimates and assumptions that, while considered
reasonable, are subject to known and unknown risks, uncertainties,
and other factors may cause the actual results and future events to
differ materially from those expressed or implied by such
forward-looking statements. Such factors include general business,
economic, competitive, regulatory, capital
markets, political and social
uncertainties. There can be no assurance that
such statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking statements. The GHS
Equity Line is subject to material risks, including that
we may receive substantially less
than the $10,000,000 Equity
Line, which may require us to
seek additional capital to meet our operational
goals, GHS' resale of our common stock
that we issue to it may cause substantial
dilution, and other risks
pertaining to Covid-19, our infrastructure
services, and sales of personal protection equipment,
which risks are contained in our S-1 Registration
Statement that may be accessed at sec.gov.
No information in this news release should be construed as
any indication whatsoever of
the Company's future stock price, revenues, or
results of operations. The Company
disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of
new information, future events or otherwise, except as required
by law.
IR Contact :
Renavotio, Inc.
Email
Contact :
brobinson@renavotio.com
Telephone
:
+1 855-765-1900
ext.
101
Skyline Corporate Communications Group, LLC
Lisa Gray, Senior
Account Manager
One Rockefeller Plaza, 11th Floor
New York, NY 10020
Office: (646) 893-5835
Email: lisa@skylineccg.com