NEWPORT GOLD INC. DBA “near
me Technologies Inc.” ENTERS INTO LOI TO FORM STRATEGIC PARTNERSHIP
WITH Near Me Marketplaces DBA Platform OS
TORONTO, ON / November 20, 2023 -- InvestorsHub NewsWire
-- Newport Gold Inc. (OTC PINK:
NWPG) ("near me Technologies Inc.” or the "Company")
is excited to announce a significant development in its evolution
and rebrand efforts of its 'near me™' brand and nearme.cool website. This transformation marks
a pivotal moment for the company as it sets the stage for a
promising collaboration with Platform OS a multi-award-winning
company and globally distinguished
development platform specializing in
creating efficient and high-quality enterprise applications.
Platform OS has achieved significant growth and delivered
ground-breaking solutions to major global brands, earning a track
record of success.
Key Highlights of the Proposed Partnership
Agreement
On October 8, 2023, near me Technologies Inc. signed a
non-binding Letter of Intent (LOI) (the "Letter of Intent") that
outlines a strategic partnership ("Proposed Transaction") with
Platform OS. The two companies aim to finalize a Definitive
Agreement by January 8, 2024, or a mutually agreed-upon later
date.
This Proposed Transaction signifies near me Technologies Inc.'s
commitment to a cash and stock agreement with Platform OS,
encompassing several critical initiatives:
1. Integrated GPS Business Directory and
Marketplace: near me Technologies Inc. will collaborate
with Platform OS to redevelop an integrated GPS business directory
and local business marketplace solution for the 'near me™' brand
and nearme.cool website. This initiative also includes the
development of a mobile app with
innovative GEO targeting/notification solutions for the Apple App
Store and Google Play Store.
2. near-me.com Integration: Platform OS's
property, near-me.com,
will be redirected to the nearme.cool business
directory/marketplace and its associated SaaS Website Builder.
Currently, near-me.com ranks among the top search results for 'near
me™' related queries.
3. Fractionalized CTO Advisory and Consulting
Oversight: Adam Broadway, CEO of Platform OS, will provide
fractionalized CTO advisory and consulting oversight for a period
of two years following the launch of the redeveloped nearme.cool
website/app. Mr. Broadway, an industry veteran with over two
decades of experience, founded Near Me Marketplaces and Platform OS
and is renowned for building successful companies and marketplaces,
including Business Catalyst, which was acquired by Adobe Systems in
2009.
Additionally: near me Technologies Inc. will
have the option to purchase 10% of Platform OS at a price
independently verified during the due diligence phase. near me
Technologies Inc. will also acquire the near-me.com domain name
from Platform OS at a mutually agreed-upon price.
Anthony McCabe, Interim CEO, near me Technologies Inc.,
commented: "We are thrilled about the opportunity to
collaborate with Platform OS and its CEO, Adam Broadway. Their
wealth of experience, expertise, and track record of success will
be invaluable as we pursue our strategic objectives to expand and
enhance the 'near me™' brand and platform, ultimately delivering an
exceptional search, discovery, and market place experience for our
end users. Furthermore, we are excited about the prospect of
acquiring an equity stake in a revenue-generating entity with
ambitious plans for rapid
growth.”
Adam Broadway, CEO, Platform OS, commented:
“The focus of near me Technologies to provide hyper local,
community focussed marketplaces, directory services and innovative
promotional services is very aligned with our mission to empower
businesses with cutting edge digital solutions.
The Platform OS are excited to underpin this success with our
decades of technical execution and look forward to working as a
team with near me™.”
About near me Technologies Inc.: We are a
dynamic and forward-thinking company dedicated to forging strategic
partnerships and pursuing acquisitions within the technology
sector. Our goal is to revolutionize the digital landscape of local
search, discovery, and marketplaces enhancing the way individuals
connect with nearby businesses while delivering exceptional value
to our shareholders. Formerly known as Newport Gold Inc., we have
evolved to become a driving force in the tech industry, poised to
redefine the future of local engagement.
About Platform OS:
Platform OS is an award-winning company specializing in
empowering developers and agencies to efficiently develop and
operate enterprise-grade applications. With a track record of rapid
growth and success stories with global brands, Platform OS is a
trusted platform and partner in the world of technology
solutions.
For further information, please contact:
Investor Relations
Email: ir@nearme.cool
Twitter: @Newport_Gold
Phone: +15144007729
Website: nearme.cool
DISCLAIMER ON FORWARD LOOKING STATEMENTS:
Statements contained herein that are not based upon current or
historical facts are forward-looking in nature. Such
forward-looking statements reflect the company's expectations about
its future operating results, performance, and opportunities that
involve substantial risks and uncertainties. When used herein, the
words "anticipate", "believe", "estimate", "plan", "intend", and
"expect" and similar expressions, as they relate to Newport Gold
Inc., or its management, are intended to identify such
forward-looking statements. These forward-looking statements are
based on information currently available to the company and are
subject to a number of risks, uncertainties, and other factors that
could cause the company's actual results, performance, prospects,
and opportunities to differ materially from those expressed in, or
implied by, these forward-looking statements. The company does not
undertake any obligation to release publicly any revisions to any
forward-looking statements to reflect events or circumstances after
the date hereof or for any other reason.
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