GoIP Announces Second Asset Purchase Agreement to Acquire FedEx Ground and Home Routes in the New York City Area
GoIP Global Inc. (OTC PINK:GOIG) has signed an asset purchase agreement to acquire the assets of a private transportation company operating FedEx routes in NYC. The total purchase price will be paid in cash, ensuring no dilution for shareholders. This acquisition aims to strengthen GoIP's transportation division, expected to yield strong cash flow in the e-commerce sector. The company plans to pursue more FedEx routes as part of its growth strategy, with the Board optimistic about expanding opportunities in the on-demand economy.
- Acquisition of FedEx routes expected to provide immediate cash-flow benefits.
- The acquisitions are non-dilutive for shareholders.
- Strategic move to increase presence in the e-commerce sector.
- None.
NEW YORK, NY / ACCESSWIRE / August 28, 2020 / GoIP Global Inc. (OTC PINK:GOIG) announced today, the signing of an additional asset purchase agreement to acquire substantially all of the assets of a privately-held transportation company that operates FedEx home and ground routes in the NYC area. This acquisition, as well as the previously announced acquisition, is subject to approval by FedEx. As previously stated, the purchase price of both acquisitions will be paid in cash and will not be dilutive to shareholders. The Company expects the acquisition to be immediately accretive.
The acquisition is part of GoIP's (to be renamed TransWorld Holdings) strategy to build a transportation division that is expected to provide strong and consistent cash-flow. The Company sees FedEx routes as opportunistic in today's changing "on demand," e-commerce economy. It is the Company's intention to acquire additional FedEx routes as it builds its transportation unit.
TransWorld's Board see tremendous opportunities in growing further into the e-commerce and "on-demand" economy. TransWorld's primary focus is to bring value to its shareholders.
About FedEx Routes
Many FedEx delivery routes are not actually owned by FedEx, but rather by small independent businesses. These businesses maintain a contract with FedEx which outlines the services to be provided by the contractor, standards required by FedEx, and the area the contractor is assigned (the zip code/route). FedEx pays these contractors on a weekly basis. These routes are divided between Line Haul, Ground and Home delivery services.
About GoIP Global/ TransWorld Holdings Inc.
TransWorld's mission is to operate as a profitable holding company operating in several business segments, initially including transportation, simple technology services, consumer goods and active investments. TransWorld's primary focus is to bring value to its shareholders by bringing last mile solutions in the ecommerce world. TransWorld is in the process of changing 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.
Contact:
GoIP Global Inc.
ko@transworldenterprises.com
1-917-268-0660
SOURCE: GoIP Global Inc
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FAQ
What is the significance of GoIP's acquisition of FedEx routes for GOIG shareholders?
What is the purchase price for the FedEx routes acquired by GoIP?
How does GoIP plan to grow its transportation division post-acquisition?
When will GoIP's acquisition of the transportation company be completed?
What is the new name for GoIP Global Inc.?
