Indo Global Exchanges Pte Ltd
Under the Symbol:
Indo Global Exchange(s) Pte Ltd Provides Shareholder Update
Monday, November 11, 2019 10:00 AM
CLOVERDALE, CA / ACCESSWIRE / November 11, 2019 / Indo Global Exchange(s) Pte Ltd (OTC PINK:IGEX) is pleased to update shareholders on the company's progress going forward.
On September 4, 2019, by a vote of the majority shareholders, the Hulogix merger was unwound and Jason Black was reinstated as President and CEO.
On October 17, 2019 the company entered into a Letter of Intent to acquire a new subsidiary operating in the supplements and functional foods industry. The target company generated gross revenue in excess of $3.2 million for 2018.
The target acquisition is subject to a series of confidential terms and conditions until such time that the acquisition moves from a Letter of Intent to a Definitive Agreement.
Stated CEO, Jason Black: "I appreciate the shareholder interest in our progress. This is a considerable acquisition that simply can't happen over night but we're moving as fast as possible. At the same time, we're not going to sabotage the merger just to pacify a few day traders and their demands to release information prematurely. This has much bigger potential than that. Also, any new stock issuances, like all new issuances, would be restricted and only issued as collateral until the merger is finalized. Not for dilutive purposes. The float remains unchanged since November of 2018."
Forward Looking Statements:
This press release contains forward-looking statements. The words "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. The Company has based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Some or all of the results anticipated by these forward-looking statements may not be achieved. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
SOURCE: Indo Global Exchanges Pte Ltd