Livento Group (NUGN) Finalizing Acquisition of Artificial Intelligence Robotics Company

Rhea-AI Summary

NuGene International, Inc./Livento Group, Inc. (OTC Pink: NUGN) is exploring an acquisition of a Software Engineering Company specializing in AI and Robotics, with due diligence ongoing. This company has reported a 50% year-over-year growth and aims to enter new markets. Livento CEO David Stybr emphasized the sustainable revenue and positive EBITDA of the target company, which has eight engineers delivering services in Europe. The acquisition aims to bolster Livento's Elisee program and expand market opportunities in the US. Further details will follow post-due diligence.

Positive

• Target company shows 50% year-over-year growth.
• Positive EBITDA and strong revenues reported by the target company.
• Potential to access US market clients.
• Acquisition will enhance the Elisee program's stability and robustness.

Negative

• No immediate financial details on the acquisition terms.
• -

New York, NY, Nov. 23, 2022 (GLOBE NEWSWIRE) -- NuGene International, Inc./Livento Group, Inc. (OTC Pink: NUGN), a dynamic group that specializes in acquiring and developing companies with disruptive business models in film, content, and technology for fund managers, announced today it is exploring acquisition with a Software Engineering Company focused on AI and Robotics.

“We are proceeding with the due diligence of the full acquisition of this company. This company specializes in Software development and AI robotics engineering with various applications for the last five years. The Company has growth of 50% on a year-to-year base and seeks an active partner to further expand to new markets,” commented David Stybr, Livento Group CEO. “We are in the process of completing due diligence and target to finalize the transaction before the end of 2022.”

The company has a team of eight engineers that are delivering services and products to various customers in Europe, with strong revenues and a positive EBITDA that is fully sustainable acquisition with Livento would bring potential to reach US market clients and get more marketing opportunities for its current services and products.

Livento’s interest in the company is as well to use their knowledge and resources to strengthen Elisee program, increase its stability and robustness as well as trade and signal automation.

More details about company products and services will be announced once the due-diligence process is completed and Livento will be preparing definitive agreements.

About Livento Group
Livento Group (OTC Pink: NUGN) is focused on acquiring and developing companies with disruptive business models. The company recently launched BOXO Productions, a film and television production subsidiary led by a top actor and producers in the industry. For more information, visit www.liventogroup.com and www.boxoproductions.com.

Safe Harbor Statement:
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements as predictions, projections, or references future events and expectations, possibilities or similar. Forward-looking statements involve risks and uncertainties that could cause results to differ materially from those projected or anticipated. Although the Company believes the expectations reflected in our forward-looking statements are based on reasonable assumptions, the Company is unable to give any assurance that its expectations will be attained due to several variable factors. Factors or events that could cause actual results to differ may emerge, and it is impossible for the Company to predict all of them. Some of these risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, in customer order patterns, changes in consumer trends, and various other factors beyond the Company's control. Although the Company intends to provide public updates, it undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

Contact:

David Stybr, CEO
Livento Group, Inc.

ir@liventogroup.com
Livento Group, Inc. | LinkedIn | Twitter
Boxo Productions | LinkedIn | Twitter | Instagram | Facebook

FAQ

What is the purpose of the acquisition by Livento Group (NUGN)?

The acquisition aims to integrate a Software Engineering Company specializing in AI and Robotics to expand market reach and enhance existing programs.

What are the growth metrics of the target company involved in NUGN's acquisition?

The target company has achieved a 50% year-over-year growth with sustainable revenue and positive EBITDA.

When does Livento Group expect to finalize the acquisition?

Livento Group targets to finalize the acquisition before the end of 2022.

What strategic benefits will Livento Group gain from acquiring the AI and Robotics company?

Livento Group aims to leverage the target's technology to enhance its Elisee program and tap into the US market.

What are the next steps after Livento Group's due diligence?

Once due diligence is completed, Livento Group will prepare definitive agreements and announce further details about the acquisition.