FORT LAUDERDALE, FL / ACCESSWIRE / February 21, 2020 / DNA Brands Inc., is pleased to announce that the company has signed a Letter of Intent (LOI) to acquire 954Solar. 954Solar is a solar company, located in the beautiful Sunshine State of Florida.
"Since talks have been ongoing for about 2 months, this LOI confirms both parties desire to scale and grow their respected business under the DNA umbrella, with this proposed acquisition. 954solar has been in business since July of 2018. In 2019, 954Solar produced revenue of approximately $1.3 Million in residential sales, concentrating only in Broward and Palm Beach County Florida." stated DNA CEO Adrian McKenzie.
Once the transaction is closed, the goal will be to scale the solar business at a national level, as a Solar sales brokerage firm. Brokering both Commercial and Residential solar sale jobs. Andrew Ferrin CEO of 954Solar has been a consistent top producer in the solar industry for the past 5 years. DNA has identified a call center and a virtual online sales platform for solar sales (that can be scaled infinitely). The sales team will concentrate on Solar friendly States such as AZ, CA, FL, IL, NJ, NY, that offer Federal solar tax credit incentives
According to IHS Markit, a world leader in critical information, analytics and solutions (which trades on the NYSE), the American and European Solar industry has grown sevenfold in the last decade and is slated in the coming years for continued double-digit growth.
About DNA Brands Inc.
DNA Brands is a Holding company. The primary asset of the company is the two-time award-winning energy drink line (DNA ENERGY). The flavors are citrus, lemon-lime, citrus sugar-free, and cranberry raspberry sugar-free flavors under the DNA Energy drink brand name. At present, the company owns all the IP that developed the award-winning energy drink line. The company also has a fleet agreement with Ridesharerentals.com, whereby DNA has a fleet of cars it rents to Uber and Lyft drivers.
This press release contains statements that are "Forward-Looking" in nature (within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1993, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). All statements regarding the Company's financial position, potential, business strategy, plans and objectives for future operations are Forward-Looking statements. Many of these statements contain words such as "goal," "aims," "may," "expect," "believe," "intend," "anticipate," "estimate," "continue," "would," "exceed," "should," "steady," "plan," "potential," "dramatic," and variations of such words and similar expressions identify Forward-Looking statements, but their absence does not mean that a statement is not a Forward-Looking statement. Because Forward-Looking statements involve future risks and uncertainties, there are many factors that could cause actual results to differ materially from those expressed or implied. The Company cannot predict the actual effect these factors will have on its results and many of the factors and their effects are beyond the Company's control. Any forward-looking statement made by the Company speaks only as of the date on which it is made. The Company is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, subsequent events or otherwise. Given these uncertainties, you should not rely too heavily on these forward-looking statements.
SOURCE: DNA Brands Inc.