Q2Power Signs Term Sheet to Acquire Major Florida Compost Manufacturing Company
(firmenpresse) - PALM BEACH, FL -- (Marketwired) -- 06/20/17 -- . (OTCQB: QPWR), through its Q2Earth division, has signed a term sheet to acquire ("ETS"), providing general terms of the proposed transaction and an exclusivity period which can be extended through September 2017.
Naples-based ETS is one of the largest green waste hauling and compost manufacturing companies in Florida, with operations that span the state''s west coast and plans to expand into two new facilities. ETS provides high quality soils to major customers that include and , with current annualized revenue exceeding $7 million from tipping fees and end product sales.
"We are very excited to have the opportunity to work with Tony Cialone and his exceptional team at ETS," stated Q2''s CEO, Christopher Nelson. "We believe ETS to be a leader in this field, with great focus placed on operational efficiencies, technology adaptation, and manufacturing of high quality soil products. Tony has demonstrated tremendous ability to expand their business organically and through strategic acquisitions and partnerships. We feel he and his team will be a great addition to the growing Q2 family."
"We are equally excited to be working with Chris, Kevin and the Q2 team towards a future combination of our companies," stated ETS'' CEO, Tony Cialone. "We share the same vision of creating the preeminent compost manufacturing company in North America, and mission to provide sustainable soil products that help our planet. We think we can help build a great company together."
The principals of ETS have further demonstrated their commitment to the transaction by participating in Q2''s recent Bridge Offering and committing to investing an additional $200,000 in a strategic follow-on round.
: Q2Power, through its Q2Earth division, seeks to become a leading manufacturer of compost and engineered soils from recycled waste for the agriculture, horticulture, construction and infrastructure sectors. Through a plan of acquisitions, strategic alliances, and organic growth focused on creating and marketing quality beneficial reuse end products, Q2 seeks to build the preeminent compost and soil manufacturing company in North America. The Company recently completed the first phase of a bridge financing that will expedite this business plan and operational transition, and has begun to wind-down its previous waste-to-energy R&D operations. Q2 intends to file its 10-Q for the first quarter of 2017 to regain "current filing" company status and OTCQB listing by the end of June.
: This news release contains "Forward-looking Statements". These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. We disclaim any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to our ability to fully commercialize our technology, risks associated with changes in general economic and business conditions, actions of our competitors, the extent to which we are able to develop new products and markets, the time and expense involved in such development activities, the ability to secure additional financing, the level of demand and market acceptance of our products, and changes in our business strategies.
Q2Power Contact:
Christopher Nelson
CEO
305-439-5559
OR:
Jeremy Roe
Managing Partner
Integra Consulting Group, LLC
925-262-8305
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Datum: 20.06.2017 - 06:01 Uhr
Sprache: Deutsch
News-ID 1509984
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PALM BEACH, FL
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Petrochemicals
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