Letter of Intent with Premergy, Inc.
ALPHARETTA, GA / ACCESSWIRE / December 11, 2023 / Innovative Holdings Alliance, Inc. (OTC PINK:IHAI) (the "Company") is proud to announce that on December 5, 2023, the Company executed a non-binding Letter of Intent with Premergy, Inc., a Georgia corporation ("Premergy").
Under the terms of the Letter of Intent, the Company will purchase all of the assets of Premergy, including its patents, in exchange for shares of the Company's Common Stock, and the assumption of certain liabilities of Premergy. The partend for the tranies intsaction to qualify as a reorganization under Section 368 of the Internal Revenue Code of 1986 and the Company and Premergy are currently finalizing the terms of a definitive Acquisition Agreement. Pending the completion of remaining due diligence by both parties, the closing of the Acquisition is expected to occur before the end of the year.
"I am very excited to announce that we have entered into a Letter of Intent to acquire 100% of the assets of Premergy, Inc. Premergy's patented technology is on the leading edge in the EV battery management and control industry." stated Chris Winter, President of Innovative Holdings Alliance, Inc.
"I look forward to working with IHAI in developing innovative technology, especially understanding that we both have symbiotic and complementary relationships to further develop Premergy's patent portfolio. This combination gives us the ability to provide solutions across a multitude of business sectors both developing and developed." added Richard Botts, Chief Executive Officer of Premergy, Inc.
About Premergy, Inc.
Premergy, Inc. is a U.S. technology development company focused on global battery power management and energy optimization. Premergy's patent-protected electric vehicle battery management design and control systems address two key issues in the electric vehicle marketplace, vehicle range and battery thermal stress.
Website: www.premergy.com
Safe Harbor
This release may contain certain forward-looking statements regarding our prospective performance and strategies within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations of our company, are generally identified by use of words "anticipate," "believe," "estimate," "expect," "intend," "plan," "project," "seek," "strive," "try," or future or conditional verbs such as "could," "may," "should," "will," "would," or similar expressions. Our ability to predict results or the actual effects of our plans or strategies is inherently uncertain. Accordingly, actual results may differ materially from anticipated results. Some of the factors that could cause our actual results to differ from our expectations or beliefs include, without limitation, the risks discussed from time to time in our filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Except as required by applicable law or regulation, we undertake no obligation to update these forward-looking statements to reflect events or circumstances that occur after the date on which such statements were made.
Innovative Holdings Alliance, Inc.
2300 Lakeview Pkwy
Alpharetta, GA 30009
[email protected]
SOURCE: Innovative Holdings Alliance, Inc.