Protect Pharmaceutical Corp. Acquires Bosfor Export

Rhea-AI Summary

Protect Pharmaceutical Corp. (PRTT) Acquires Bosfor Export, Boosting Revenue and Market Presence

Positive

• Acquisition of Bosfor Export to boost revenue and market presence
• Robust fruit wholesaling operations of Bosfor Export with annual revenue of $28 million USD
• Strategic move financed through the issuance of 2,000,000 restricted shares

Negative

• None.

Istanbul, Turkey, Nov. 24, 2023 (GLOBE NEWSWIRE) -- Protect Pharmaceutical Corp. “OTC: PRTT” is pleased to announce the acquisition of Bosfor Export. This strategic move has been financed through the issuance of 2,000,000 restricted shares, representing 100% ownership of Bosfor Export.

Bosfor Export, known for its robust fruit wholesaling operations in Istanbul, currently achieves an annual revenue of approximately $28 million USD. With this acquisition, PRTT's management is optimistic about significantly increasing revenues by leveraging Bosfor Export's valuable routes and client base, which extends from South America to Eastern Europe.

CEO Ali Yildiz commented, “This acquisition marks a significant step in our strategic growth initiatives aimed at enhancing revenue, profitability, and shareholder value.”

In line with ongoing PCAOB audit requirements, Protect Pharmaceutical Corp. is expanding its board by adding new members and establishing an Audit Committee in the forthcoming weeks. This expansion includes the recent appointment of Tatiana Aleinikov as Vice President of Operations. Ms. Aleinikov's extensive experience and knowledge are anticipated to be instrumental in the company's growth trajectory.

Forward-Looking Statements: This press release contains forward-looking statements as defined under Section 21E of the Securities Exchange Act of 1934. These statements, other than historical facts, reflect our management’s current views and projections about future events. Words such as “may”, “will”, “expect”, “anticipate”, “intend”, “estimate”, and similar expressions identify forward-looking statements. These statements involve inherent risks and uncertainties, and actual results may differ materially from those expressed or implied. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Further details regarding these risks are available in the Company's filings with the OTC Markets. We undertake no obligation to publicly update or revise any forward-looking statements.

For additional information, please contact:

Protect Pharmaceutical Corp.
Ali Yildiz: +90 (531) 452 82 27
Email: Info@atlantic-logistics.net

FAQ

What is the latest announcement from Protect Pharmaceutical Corp. (PRTT)?

Protect Pharmaceutical Corp. (PRTT) has announced the acquisition of Bosfor Export.

How has the acquisition of Bosfor Export impacted Protect Pharmaceutical Corp. (PRTT)?

The acquisition is expected to boost PRTT's revenue and market presence.

What is the annual revenue of Bosfor Export?

Bosfor Export achieves an annual revenue of approximately $28 million USD.

How was the acquisition of Bosfor Export financed?

The acquisition was financed through the issuance of 2,000,000 restricted shares.

What is the ticker symbol for Protect Pharmaceutical Corp.?

The ticker symbol for Protect Pharmaceutical Corp. is PRTT.