Under the Symbol:
Solar Integrated Roofing Corporation Signs Definitive Acquisition Agreement; Extends Audit to Fiscal Year-End
Thursday, March 21, 2019 5:00 AM
POWAY, CA / ACCESSWIRE / March 21, 2019 / Solar Integrated Roofing Corporation (OTC PINK: SIRC) CEO David Massey announced the company has signed a definitive agreement to acquire one of South Orange County, California's most established re-roofing companies, Montross Roofing and Construction, which has been in business for more than 19 years.
''This deal is a perfect fit for us and the process was very smooth'', said Massey. ''Specializing in small commercial and HOA projects, Montross' management team has extensive experience putting systems in place to maximize profits and productivity. Having them joining our team will coordinate nicely with another pending acquisition we will soon be announcing. This is a win-win relationship for both parties. Montross is currently on track for $3 million in revenues, but by adding SIRC's residential roofing and solar components and marketing, we believe we can increase that to $5 million or more.''
The company has also decided to extend their audit through the end of their fiscal year, 2/28/2019. ''The audit was taking longer than we anticipated'', added Massey. ''After conferring with our auditors, it made prudent and economic sense to extend them through the end of the fiscal year. Our acquisitions and goals will not be impacted by this decision. We're moving forward with everything as planned and announced."
About Solar Integrated Roofing Corporation
Solar Integrated Roofing Corporation (SIRC) is an integrated solar and roofing installation company specializing in commercial and residential
properties with a focus on acquisitions of like companies to build a footprint nationally. For more information, please visit:
Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.
SOURCE: GG Capital