NextMart, Inc. - Acquisition of Black Widow Permian Energy, LLC

Rhea-AI Summary

NextMart, Inc. (NXMR) announced the acquisition of Black Widow Permian Energy, a provider of oil field services in the Permian Basin, for 10 million shares of common stock. Black Widow, based in Carlsbad, New Mexico, has generated approximately $1.5 million in revenue since its inception in 2020 and is projected to reach the same amount in fiscal year 2022. NXMR plans to expand Black Widow's service capabilities and increase revenue through internal financing and a leasing program for oil field equipment, aiming to enhance its footprint in the lucrative Permian Basin.

Positive

• Acquisition of Black Widow enhances NXMR's service capabilities in the Permian Basin.
• Expected revenue growth from Black Widow with $1.5 million projected for fiscal year 2022.
• Plans for internal financing to expand operations and service offerings.

Negative

• None.

CARLSBAD, N.M., Aug. 12, 2022 /PRNewswire/ -- NextMart, Inc. (the "Company" or "NXMR" - Pink Sheets Alternative Reporting Pink: NXMR) – NXMR would like to announce it completed the acquisition of Black Widow Permian Energy, Limited Liability Company, that provides oil field services in the Permian Basin ("Black Widow").

The Company acquired 100% of the ownership equity of Black Widow pursuant to a share exchange agreement dated August 11, 2022, for 10,000,000 shares of Common Stock of the Company (Restricted). Black Widow is in Carlsbad, New Mexico, which is in the prime oil and gas fields of the Permian Basin, and provides oil field services, which includes a specialized hot oiler, an end dump truck, and three Super Vac Trucks. Black Widow has approximately $1.5 USD in top line revenue since its inception in 2020.  It is expected that Black Widow is on pace to record top line revenue of $1.5M USD in fiscal year 2020.

Mr. Maldonado (CEO of the Company), states…" We are happy to acquire Black Widow in Carlsbad, New Mexico. Michael Rogers has over twenty years' experience in the oil field service industry in the Permian Basin and was previously part of one of our subsidiaries, Emco Oil Field Services, LLC. We plan on immediately expanding Black Widows service footprint with internal financing of additional equipment and also allow it to utilize various assets of the Company to increase its top line revenue ongoing. The acquisition of Black Widow fits our current business model to grow our oil field service business in the Permian Basin, one of the hottest areas domestically for oil and gas production."

The Company has now acquired three oil field services operations located in the Permian Basin with the current acquisition of Black Widow.  The next planned step to amplify our footprint in the Permian Basis oil field service industry will be to form a leasing program for oil field service equipment for the benefit of our wholly owned subsidiaries.  The Company plans on completing this action during the month of September 2022 and will be announcing the full details of this proposed leasing company at that time.

Forward Looking Statement

Certain statements that we make may constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995. The statements contained herein may contain certain forward-looking statements relating to NXMR that are based on the beliefs of NXMR's management as well as assumptions made by and information currently available to NXMR's management. These forward-looking statements are, by their nature, subject to significant risks and uncertainties. These forward-looking statements include, without limitation, statements relating to the NXMR's business prospects, future developments, trends and conditions in the industry and geographical markets in which NXMR operates, its strategies, plans, objectives and goals, its ability to control costs, statements relating to prices, volumes, operations, margins, overall market trends, risk management and exchange rates.

ABOUT US

NextMart, Inc., a Delaware Corporation, is a public quoted Pink Sheet issuer under the ticker symbol "NXMR". Currently, NXMR currently is a shell company with a new management team with plans to become a current alternative reporting issuer with OTC Markets. The Company is currently looking for an appropriate business acquisition.

CONTACT:             

4602 West Pierce Street
Carlsbad, New Mexico 88220
(602) 359-2231

Company Web Site: https://nextmartcorporation.com/

Emco Oilfield Services, LLC Web Site: https://emcooilfield.com/

Twitter: @CorporationNxmr

Company Email: info@nextmarkcorporation.com

View original content:https://www.prnewswire.com/news-releases/nextmart-inc--acquisition-of-black-widow-permian-energy-llc-301604848.html

SOURCE NextMart, Inc.

FAQ

What is the significance of NextMart's acquisition of Black Widow Permian Energy?

The acquisition strengthens NXMR's position in the oil field services market in the lucrative Permian Basin, which is key for revenue growth.

How much did NXMR pay for Black Widow Permian Energy?

NXMR acquired Black Widow for 10 million shares of common stock.

What are Black Widow's projected revenues for 2022?

Black Widow is projected to generate approximately $1.5 million in revenue for fiscal year 2022.

What are NXMR's future plans following the acquisition?

NXMR plans to enhance Black Widow's operations through internal financing and establish a leasing program for oil field service equipment.