BEDFORD, TX / ACCESSWIRE / May 17, 2016 / Victura Construction Group, Inc., (OTC: VICT) (the "Company"), a holding company focused on strategic acquisitions within the construction industry, is pleased to announce that it has begun the divestiture and dissolution of some of its assets in an effort to streamline its operations and focus of its core competencies.
Said CEO Patrick Johnson: "Victura over the previous year has added a number of specialty subsidiaries from the construction of private hospitals in Canada, Custom Millworks, Electric, and International Logistics with the intention of these entities being mutually beneficial to the Victura brand of vertically integrated construction assets. While all of these entities respectively have very good and in some cases immense potential, the company lacks the human capital to operate them and execute on their individual business models. We have determined that divestiture and/or dissolution of these assets is best for the company now and moving forward. These measures, along with some additional minor corporate restructuring will allow us to re-narrow our focus to our core competency of insurance restoration at the subsidiary level, while at the same time re-positioning Victura as a more attractive holding company for new and exciting opportunities that present themselves as we refine our business profile at the parent company level in the coming months."
Companies to Be Divested:
Cherubim Custom Millworks LLC
Artus Global Solutions LLC
Companies To Be Dissolved:
B & G VICT LLC
Victura Electric
Tolltech Healthcare Integrated Solutions Corp.
About Victura Construction Group Inc.
Victura Construction Group, Inc., (OTC: VICT), is a holding company focused on strategic acquisitions within the construction industry that service both residential and commercial sectors in new development and construction projects, restoration and re-build following any covered loss or catastrophic event and materials supply opportunities within the industry.
Victura operates with excellent business practices and management expertise, sound ethics, financial resources as applicable, and utilizes strategic industry relationships to help add to the success of any acquired company(s). The company can be found at www.victuraconstruction.com.
SAFE HARBOR
This press release contains forward-looking statements regarding future events and our future results that are subject to the safe harbors created under the Securities Act of 1933 (the "Securities Act") and the Securities Exchange Act of 1934 (the "Exchange Act"). All statements other than statements of historical facts included in this report regarding our financial position, business strategy, plans and objectives of management for future operations, industry conditions, and indebtedness covenant compliance are forward-looking statements. When used in this report, forward-looking statements are generally accompanied by terms or phrases such as "estimate," "project," "predict," "believe," "expect," "anticipate," "target," "plan," "intend," "seek," "goal," "will," "should," "may" or other words and similar expressions that convey the uncertainty of future events or outcomes. Items contemplating or making assumptions about, actual or potential future sales, market size, collaborations, and trends or operating results also constitute such forward-looking statements.
Forward-looking statements involve inherent risks and uncertainties, and important factors (many of which are beyond our company's control) that could cause actual results to differ materially from those set forth in the forward-looking statements, including the following: oil and gas prices, general economic or industry conditions, nationally and/or in the communities in which our company conducts business, changes in the interest rate environment, legislation or regulatory requirements, conditions of the securities markets, our access to capital, changes in accounting principles, policies or guidelines, financial or political instability, acts of war or terrorism, and other economic, competitive, governmental, regulatory and technical factors affecting our company's operations, products, services and prices.
We have based these forward-looking statements on our current expectations and assumptions about future events. While our management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control.
Contact:
Victura Construction Group, Inc.
Patrick J. Johnson
Chief Executive Officer
817.546.3212
[email protected]
SOURCE: Victura Construction Group, Inc.