Newport Gold Inc. DBA "near Me Technologies Inc." Enters into LOI to Form Strategic Partnership with Near Me Marketplaces DBA Platform OS

Rhea-AI Summary

Newport Gold Inc. announces a strategic partnership with Platform OS for the rebranding of its 'near me' brand and website.

Positive

• Newport Gold Inc. will collaborate with Platform OS to develop an integrated GPS business directory and marketplace, as well as a mobile app with innovative GEO targeting/notification solutions.
• Near-me.com will be redirected to the nearme.cool business directory/marketplace.
• Adam Broadway, CEO of Platform OS, will provide fractional CTO advisory and consulting oversight for two years.
• Near me Technologies Inc. will have the option to purchase 10% of Platform OS and acquire the near-me.com domain name.

Negative

• None.

TORONTO, ON / ACCESSWIRE / October 10, 2023 / Newport Gold Inc. (OTC PINK:NWPG) ("near me Technologies Inc." or the "Company") is excited to announce a significant development in its evolution and rebrand efforts of its 'near me™' brand and nearme.cool website. This transformation marks a pivotal moment for the company as it sets the stage for a promising collaboration with Platform OS a multi-award-winning company and globally distinguished development platform specializing in creating efficient and high-quality enterprise applications. Platform OS has achieved significant growth and delivered ground-breaking solutions to major global brands, earning a track record of success.

Key Highlights of the Proposed Partnership Agreement

On October 8, 2023, near me Technologies Inc. signed a non-binding Letter of Intent (LOI) (the "Letter of Intent") that outlines a strategic partnership ("Proposed Transaction") with Platform OS. The two companies aim to finalise a Definitive Agreement by January 8, 2024, or a mutually agreed-upon later date.

This Proposed Transaction signifies near me Technologies Inc.'s commitment to a cash and stock agreement with Platform OS, encompassing several critical initiatives:

1. Integrated GPS Business Directory and Marketplace: near me Technologies Inc. will collaborate with Platform OS to redevelop an integrated GPS business directory and local business marketplace solution for the 'near me™' brand and nearme.cool website. This initiative also includes the development of a mobile app with innovative GEO targeting/notification solutions for the Apple App Store and Google Play Store.

2. near-me.com Integration: Platform OS's property, near-me.com, will be redirected to the nearme.cool business directory/marketplace and its associated SaaS Website Builder. Currently, near-me.com ranks among the top search results for 'near me™' related queries.

3. Fractional CTO Advisory and Consulting Oversight: Adam Broadway, CEO of Platform OS, will provide fractional CTO advisory and consulting oversight for a period of two years following the launch of the redeveloped nearme.cool website/app. Mr. Broadway, an industry veteran with over two decades of experience, founded Near Me Marketplaces and Platform OS and is renowned for building successful companies and marketplaces, including Business Catalyst, which was acquired by Adobe Systems in 2009.

4. Additionally: near me Technologies Inc. will have the option to purchase 10% of Platform OS at a price independently verified during the due diligence phase. near me Technologies Inc. will also acquire the near-me.com domain name from Platform OS at a mutually agreed-upon price.

Anthony McCabe, Interim CEO, near me Technologies Inc., commented: "We are thrilled about the opportunity to collaborate with Platform OS and its CEO, Adam Broadway. Their wealth of experience, expertise, and track record of success will be invaluable as we pursue our strategic objectives to expand and enhance the 'near me™' brand and platform, ultimately delivering an exceptional search, discovery, and market place experience for our end users. Furthermore, we are excited about the prospect of acquiring an equity stake in a revenue-generating entity with ambitious plans for rapid growth."

Adam Broadway, CEO, Platform OS, commented: "The focus of near me Technologies to provide hyper local, community focused marketplaces, directory services and innovative promotional services is very aligned with our mission to empower businesses with cutting edge digital solutions.

Platform OS is excited to underpin this success with our decades of technical execution and look forward to working as a team with near me™."

About near me Technologies Inc.: We are a dynamic and forward-thinking company dedicated to forging strategic partnerships and pursuing acquisitions within the technology sector. Our goal is to revolutionise the digital landscape of local search, discovery, and marketplaces enhancing the way individuals connect with nearby businesses while delivering exceptional value to our shareholders.

About Platform OS:
Platform OS is an award-winning company specialising in empowering developers and agencies to efficiently develop and operate enterprise-grade applications. With a track record of rapid growth and success stories with global brands, Platform OS is a trusted platform and partner in the world of technology solutions.

Contact:

A.M. McCabe
Newport Gold Inc
+1 514-400-7729
ir@nearme.cool
Twitter: @Newport_Gold
Phone: +15144007729
Website: nearme.cool

SOURCE: Newport Gold, Inc.

View source version on accesswire.com:
https://www.accesswire.com/791632/newport-gold-inc-dba-near-me-technologies-inc-enters-into-loi-to-form-strategic-partnership-with-near-me-marketplaces-dba-platform-os

FAQ

What is the partnership between Newport Gold Inc. and Platform OS about?

The partnership aims to redevelop the 'near me' brand and website, creating an integrated GPS business directory and marketplace, as well as a mobile app.

What will happen to near-me.com?

Near-me.com will be redirected to the nearme.cool business directory/marketplace.

Who will provide advisory and consulting oversight?

Adam Broadway, CEO of Platform OS, will provide fractional CTO advisory and consulting oversight for two years.

What options does Near me Technologies Inc. have?

Near me Technologies Inc. has the option to purchase 10% of Platform OS and acquire the near-me.com domain name.