Innovest Global Signs Letter of Intent to Acquire Natural Gas Supplier

Rhea-AI Summary

Innovest Global Inc. (OTC PINK:IVST) has signed a letter of intent to acquire a Midwest natural gas supplier, marking its first acquisition since the onset of the Covid-19 pandemic. This transaction, expected to conclude by the end of Q3 2021 through a share exchange, aims to enhance Innovest's commercial energy brokerage business and improve profit margins. The company's renewed focus on growth reflects a strategy to add value for shareholders by integrating established companies with strong operational histories.

Positive

• Acquisition of a natural gas supplier enhances vertical integration with Innovest's energy brokerage business.
• Expected improvement in profit margins for both Innovest and the acquired entity.
• Reaffirms the company's commitment to growing shareholder value post-Covid.

Negative

• None.

CLEVELAND, OH / ACCESSWIRE / August 16, 2021 / Innovest Global Inc. (OTC PINK:IVST), a diversified industrials company, is pleased to announce that it has signed a letter of intent to acquire a supplier of natural gas located in the Midwest. The transaction would be completed by share exchange and expected to close at the end of Q3, 2021.

"This acquisition would mark the first acquisition since pre-Covid times, and is an exciting reflection of the renewed focus of the company to continue to add value for shareholders by acquiring a healthy, longstanding company with great people," said Dan Martin, Innovest's founder, Chairman, and CEO.

Innovest made several changes to operations and management in the wake of the Covid-19 pandemic and its effects on previous core businesses. This acquisition would represent a vertical integration with its commercial energy brokerage business and allow for improved margins at both companies.

Additional operating updates are forthcoming.

About Innovest Global, Inc.

Innovest Global, Inc. (OTC Markets: IVST) is a diversified industrial company applying technology and innovation to provide value-added solutions across multiple business markets. Innovest Global builds long-term shareholder value by acquiring established industrial businesses on favorable terms, realizing synergies and achieving organic growth through investments in innovative technology and business systems. For more information, please click here.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical facts included in this press release are forward-looking statements. These statements relate to future events or to the Company's future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. Such risks, uncertainties and other factors, which could impact the Company and the forward-looking statements contained herein are included in the Company's filings with the OTC Markets. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

Investors, Brokers, and Analysts Contact:

Chesapeake Group
+1-410-825-3930
info@chesapeakegp.com

SOURCE: Innovest Global, Inc.

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https://www.accesswire.com/659839/Innovest-Global-Signs-Letter-of-Intent-to-Acquire-Natural-Gas-Supplier

FAQ

What is Innovest Global's recent acquisition involving natural gas?

Innovest Global has signed a letter of intent to acquire a natural gas supplier located in the Midwest, expected to close by the end of Q3 2021.

How will the acquisition impact Innovest's operations?

The acquisition aims to enhance vertical integration with Innovest's commercial energy brokerage business and improve profit margins.

What does this acquisition mean for Innovest's shareholders?

This acquisition reflects Innovest's renewed focus on adding value for shareholders by securing a healthy, longstanding business.

When is the expected closure date for the acquisition?

The transaction is expected to be completed by the end of Q3 2021.