NEW YORK, NY / ACCESSWIRE / June 15, 2020 / GoIP Global Inc (OTC PINK:GOIG) announced today the signing of a letter of intent (LOI) to acquire the rights and assets of a second FedEx Route. The route is currently serving no less than an average of 3,000 weekly stops based upon annual 2020 deliveries made to date. The purchase will be all cash and non-dilutive to shareholders. In anticipation of developing significantly more transportation assets, TransWorld/GoIP will be creating a wholly owned subsidiary to own and manage these assets, TW Transport Inc (TTI).
Completion of the transaction is subject to a number of conditions, including but not limited to the following key conditions:
- execution of the Definitive Agreement;
- completion of mutually satisfactory due diligence;
- receipt of all required regulatory, corporate and third party approvals, and the fulfillment of all applicable regulatory requirements and conditions necessary to complete the Transaction; and
- completion of the acquisition of the first Fedex Route.
Ken Orr, GoIP's President and Chairman commented, "I'm very pleased with the initial LOIs for two FedEx Routes and we are actively seeking more opportunities in this sector. Both of the initial transactions are expected to close by month's end. Additionally, we plan to have an experienced management staff in place for the Transportation Division no later than September 1st. These routes are expected to provide us with a secure revenue stream and growth as the consumer markets shift to home delivery more and more each day."
About GoIP Global (to be renamed TransWorld Holdings Inc.)
GoIP (to be renamed TransWorld) will focus on acquiring controlling interests in profitable basic businesses. Initially, TransWorld will focus on acquiring transportation companies, simple technology service businesses and or consumer products businesses, as well as making active investments. GoIP intends to change its name to TransWorld Holdings Inc., and will apply for a new symbol. To learn more, please visit www.transworldenterprises.com.
Safe Harbor Statement Information in this news release may contain statements about future expectations, plans, prospects or performance of GoIP Global, Inc. that constitute forward-looking statements for purposes of the safe harbor Provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be," "expects," "may affect," "believed," "estimate," "project," and similar words and phrases are intended to identify such forward-looking statements. GoIP Global, Inc. cautions you that any forward-looking information provided by or on behalf of GoIP Global, Inc. is not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind. GoIP Global, Inc.'s actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond GoIP Global, Inc.'s control. In addition to those discussed in GoIP Global, Inc.'s press releases, public filings, and statements by GoIP Global, Inc.'s management, including, but not limited to, GoIP Global, Inc.'s estimate of the sufficiency of its existing capital resources, GoIP Global, Inc.'s ability to raise additional capital to fund future operations, GoIP Global, Inc.'s ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities and, in identifying contracts which match GoIP Global, Inc.'s capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. GoIP Global, Inc. does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.
GoIP Global Inc [email protected]
SOURCE: GoIP Global Inc