Pure Capital Solutions Announces Acquisition, New Funding, And Focus On Space Economy

Rhea-AI Summary

Pure Capital Solutions (PCST) announced the acquisition of Nova Corps, LLC, through a merger resulting in the issuance of 87,779,000 shares, representing 80% of PCST's outstanding shares. Nova Corps will operate as a wholly owned subsidiary named Nova Space. This acquisition aims to enhance digital offerings in Space Operations and Astronautics training and professional development, backed by an experienced management team led by Joseph Horvath as CEO and Christopher Allen as COO. The transaction reflects the rapid growth and opportunities within the space economy.

Positive

• Acquisition of Nova Corps enhances PCST's capabilities in space training and education.
• Nova Space will leverage digital learning experiences to develop skills in the space industry.
• Experienced management team established to drive growth and innovation in the space economy.

Negative

• The issuance of 87,779,000 shares may dilute existing shareholder value.
• Resignation of key officers could lead to instability during the transition period.

SALT LAKE CITY, April 9, 2021 /PRNewswire/ -- Pure Capital Solutions (OTC Ticker symbol: PCST) a Utah corporation, announced the acquisition of Nova Corps, LLC, a Minnesota limited liability company through a merger with PCST in exchange for the issuance of 87,779,000 shares of restricted common stock. The shares issued will represent 80% of the issued and outstanding shares of PCST, with Nova Corps becoming a wholly owned subsidiary of PCST under the new name Nova Space – a Wyoming Incorporation (Nova Space).

PCST latest move combines a highly experienced management team and world class subject matter experts with the acquisition of Nova Corps. Under the new banner of Nova Space Inc, the organization is set to develop extraordinary digital offerings for Space Operations and Astronautics training, education, and professional development. The new management team will be led by CEO/President Joseph Horvath and COO/Vice-President Christopher Allen. 

The Space industry is experiencing rapid growth, investment, and technological change. One of the keys to helping this industry reach new milestones is providing a standardization of knowledge through better training and professional development. By supporting and enabling the growth of the performers, rather than just technologies, the industry will improve communication, performance, and business outcomes, said Joseph Horvath, President and CEO.

The space economy is quickly providing immense opportunities for career growth, wealth creation, and participation in meaningful human endeavors. There are hundreds of thousands of people willing to participate today, who need development opportunities to achieve confidence and competence in the space industries best practices. By leveraging the best in adult learning design, digital learning experiences have the power to rapidly install durable new skills and competencies for individuals and organization at scale, said Christopher Allen, Vice President and COO.

As a result of this transaction, Todd Marshall and Daren Wright of PCST resigned from their positions as officers and directors of the Company. Tyler Rainey will remain with the Company in the role of Secretary.

Forward-looking Statement:
This release contains forward-looking statements, which are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.

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SOURCE Pure Capital Solutions

FAQ

What acquisition did Pure Capital Solutions announce on April 9, 2021?

Pure Capital Solutions announced the acquisition of Nova Corps, LLC, transforming it into a wholly owned subsidiary named Nova Space.

How many shares were issued in the merger between PCST and Nova Corps?

PCST issued 87,779,000 shares of restricted common stock, representing 80% of its outstanding shares.

Who leads the management team of the newly formed Nova Space?

The management team of Nova Space is led by Joseph Horvath as CEO and Christopher Allen as COO.

What is the strategic goal of the acquisition for PCST?

The acquisition aims to enhance digital offerings for training and professional development in the space industry.

What risks are associated with the acquisition of Nova Corps by PCST?

There may be risks related to shareholder dilution and potential instability due to the resignation of key executives.