RENAVOTIO SIGNS
DEFINITIVE AGREEMENT WITH
TRITANIUM LABS USA, INC.
Tulsa, OK
-- October 22, 2020 -- InvestorsHub NewsWire
-- Renavotio,
Inc. (OTCQB:
RIII), (the "Company," or "Renavotio"), announced today that
RIII and its wholly owned
subsidiary, Renavotio Infratech, Inc., a Delaware corporation
(collectively, the "Buyer"), completed a Share Purchase
Agreement (the "Agreement") with Tritanium Labs, Inc. ("Tritanium")
and its stockholders (the "Sellers"), purchasing all of Tritanium's
outstanding capital stock and its subsidiaries, as follows:
(a) Tritanium Labs, LLC, an Illinois Limited Liability Company; (b)
TruCleanz Distribution, Inc., an Oklahoma Corporation; and (c) Pro
N95 USA, LLC, a New Jersey Limited Liability Company.
Tritanium,
through
its subsidiaries, is engaged in the
business of personal protection equipment, related
product
distribution, immutable
traceability technology, consulting and
management services.
At
the Closing, the Sellers
will sell and transfer the Purchased Shares free and
clear of all liens, and the
Buyer shall pay the following consideration: (a) payment of the
Closing Indebtedness Payoff Amount of $250,000; (b)
RIII
restricted common
stock
equal to $5,750,000 divided
by $0.12 a
share. "Renavotio continues
to target product rich market opportunities to bring both
revenue and promising
growth to our shareholders", commented Billy
Robinson, CEO of Renavotio, Inc.
Tritanium's
subsidiaries consist of Tritanium Labs
a
manufacturer and
distributor of the TriCleanz, TruCleanz, and
TruSafe brands of sanitizers, disinfectants, sanitizing wipes, and
personal protective equipment (PPE). The TriCleanz brand of
hand sanitizer is currently available at over 100 Costco Warehouse
Clubs and the TruCleanz and TruSafe brands are available at various
retailers and sold directly to schools, municipalities, and
commercial customers. In its commitment to
manufacturing in the USA, all Tritanium Labs products are made in
the United States with the vast majority
of components sourced
within the United States. Since April 2020,
Tritanium Labs has sold over 500,000
units
of hand
sanitizers under the TriCleanz and TruCleanz brands and is
currently producing hand sanitizers in 128, 16,
10,
and
4-ounce
sizes.
In a
partnership with the Bartlesville Development Authority, Tritanium
Labs has recently leased 37,500 square feet of manufacturing and
distribution space to centralize product manufacturing in the
Bartlesville Oklahoma area. A primary focus of the
Bartlesville facility (formerly owned by
Siemens)
is to bring
manufacturing of products,
ingredients, and components to the United
States, which are currently
only available from foreign manufactures back to the United
States, thereby
creating
jobs in Oklahoma. The company has also
initiated plans
for
Tritanium
Lab's
subsidiary, Pro
N95 USA,
LLC, to file a 510K
application
to
obtain
FDA approval of its N95
mask and to immediately begin installation of
mask
production equipment in
additional
clean
room production space available in the same facility.
Tritanium
Labs brings over $5,000,000
in sales since April 2020 and is
experiencing
substantial growth in both the consumer and commercial
sectors. TruCleanz, TruSafe
was
selected by Best Buy Stores to be the in-store hand sanitizer for
consumers because of its
superior quality and Best Buy's commitment
to products made in the USA. Tritanium Labs began
shipping Gallons and
16-ounce
hand
sanitizer to Best Buy starting October 2020, just in time for
Holiday Shopping customers.
Feld
Entertainment recently took delivery of TruSafe for its staff use
in reopening Disney on Ice and Monster Truck events.
TruCleanz Distribution division has secured private label
production for QDP Brands (Quality Disposal Products) which are
distributed to over 25,000 accounts in the hospitality
sector. Tritanium Labs Trust
Transparency Traceability
feature
is one of the key attributes that retailers and
businesses look for when selecting a product. "Combining the
product expertise, production and immutable
traceability technology with
Renavotio's market presence, funding capabilities,
and the growth
opportunities available, create a unique
driving force for Tritanium and Renavotio and partners." Said Ed
Hounor CEO of Tritanium.
ABOUT TRITANIUM LABS USA, INC.:
Tritanium
is an Oklahoma
based supply
chain technology company
and the manufacturer of
consumer products available at Costco Warehouse Clubs and other
fine retailers across the United States.
The TriCleanz,
TruCleanz, and TruSafe brands
of sanitizers, disinfectants, sanitizing wipes, and personal
protective equipment (PPE) are manufactured in the United States
with transparency,
trust, and traceability. Its
products
are manufactured using the same Tritanium
Traceability Technologies it
provides to its
manufacturing and logistics
clients.
Since
2018, Tritanium has
become
the leader in Supply
Chain Traceability Solutions and
the founder of the first public distributed ledger
immutable
traceability technology
specifically
for
product traceability. Tritanium's solutions, software
developers and technology providers can add immediate global
traceability to sickness, food, manufacturing
and
logistic applications. www.tritaniumlabs.com
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. 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.
601 South Boulder Ave.
Suite 600
Tulsa, OK 74119
Email
Contact:
brobinson@renavotio.com
Phone :
+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