Integrated
Ventures Signs Letter of Intent to Acquire Service Provider To The
Data Center Market With Unaudited 2019 Revenues Of $1.8
Million
PHILADELPHIA, PA -- August 24, 2020 --
InvestorsHub NewsWire
-- Integrated Ventures Inc (OTCQB: INTV)
(“Buyer”) is pleased to disclose the execution of a Non-Binding
Letter of Intent (“LOI”) to acquire assets of a privately-held,
technology service provider (“Company”) and its wholly owned
subsidiary, located in Indianapolis,
Indiana.
The
proposed all-cash transaction is conditional on the completion of
standard due diligence, execution of employment agreements with key
employees, and other conditions typical for transactions of this
nature.
Under terms of executed LOI, the total
consideration for the acquisition is $200,000 and consist of (10)
initial cash payment of $120,000 and (2) $80,000, in 12 monthly
installments.
As of
fiscal year-end, December 31, 2019, the Company had generated
unaudited revenues of $1.8. For first 6 months of 2020 and during
Covid-19 pandemic, unaudited revenues have totaled
$750k
The
list of assets to be purchased consist of
all
the its brand(s) and trademarks, all websites and domain-names, all
its phone numbers and e-mail addresses, all existing & pending
contracts, all its work-in-process, current and pending
purchase-orders, project pipeline, proposals, licenses &
permits. Employees, all its client & supplier lists, and all
the intangible & goodwill assets owned by the
Company.
The
Company has over (1) 50 active corporate clients, including Eli
Lilly, Purdue University, Indiana University and major local
hospitals, (2) operations in Indiana, Ohio, Michigan and Kentucky
and (3) an extensive experience, servicing many business sectors,
including healthcare, utilities, government, financial and
telecommunications.
Support services and products for data center
market include: (1) rack power installation and distribution (60
amp c13/c14 power monitoring and switching pdus), (2) data center
containment solutions (hot and cold isles), (3) access flooring
(increases air flow), (4) server and network rack cabinets and
(5) testing and assembly
stations.
Company's wholly owned subsidiary is focused on
ergonomic and technical furniture for corporate offices, plants and
labs.
Steve Rubakh, CEO of Integrated Ventures, Inc,
adds the following commentary: “Today's announcement is our
official launch of the previously disclosed roll-up business plan.
Due to increasing demand for data hosting, including due to the
current pandemic environment, integration and connectivity,
reliable data centers operations are critical for present and
future corporate infrastructures. In addition, Company's data
center expertise is a perfect strategic and complimentary fit with
Integrated Venture's cryptocurrency mining operations. We believe
that there is a compelling opportunity for nationwide integration
of such niche companies, that offer value-added services. We intend
to pursue value-priced, revenue generating acquisitions with focus
on accelerated revenue growth and increasing shareholder's
value.”
About Integrated Ventures
Inc: The
Company operates as a Technology Holdings Company with focus on
cryptocurrency sector. For more information, please
visit the
company's website at
www.integratedventuresinc.com.
Safe Harbor
Statement:
The
information posted in this release may contain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. You can identify these statements by use of the
words "may," "will," "should," "plans," "explores," "expects,"
"anticipates," "continue," "estimate," "project," "intend," and
similar expressions. Forward-looking statements involve risks and
uncertainties that could cause actual results to differ materially
from those projected or anticipated. These risks and uncertainties
include, but are not limited to, general economic and business
conditions, effects of continued geopolitical unrest and regional
conflicts, competition, changes in technology and methods of
marketing, and various other factors beyond the company's
control.
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