Quality Industrial Corp. Expects To Close Its First Acquisition in September 2022

Rhea-AI Summary

Quality Industrial Corp. (OTCQB:QIND) has appointed Pipara & Co LLP as its independent registered public accounting firm as of August 19, 2022. This strategic decision aims to expedite the audit process for its upcoming subsidiary in the United Arab Emirates. QIND expects to finalize a significant acquisition in the UAE by September 2022, having already made a first tranche payment of $1 million. The company is also in discussions for two additional acquisitions in the renewable energy and industrial manufacturing sectors.

Positive

• Appointment of Pipara & Co LLP expected to expedite audit processes.
• Successful completion of a $1 million tranche payment for UAE acquisition.
• Negotiations underway for two additional acquisitions in promising sectors.

Negative

• None.

SAN FRANCISCO, CA / ACCESSWIRE / August 31, 2022 / Quality Industrial Corp. (OTCQB:QIND) recently engaged Pipara & Co LLP as its independent registered public accounting firm on August 19, 2022, in order to align with its parent company, ILUS International (OTC:ILUS). The newly appointed accounting firm's presence in the region has led to a faster audit process for Quality Industrial Corp.'s upcoming United Arab Emirates headquartered subsidiary. Consequently, QIND now expects its large United Arab Emirates acquisition to close in September 2022.

QIND has already successfully completed its first tranche payment of $1 million towards completion of the acquisition and will be paying the next tranche with the with closing of the purchase agreement. QIND is also negotiating two further acquisitions in the renewable energy and industrial manufacturing sectors.

This Press Release does not constitute an offer of any securities for sale.

FORWARD-LOOKING STATEMENTS

This press release contains statements of a forward-looking nature about the Company. You can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "future" or other similar expressions. The Company has based these forward-looking statements primarily on the Company's current expectations and projections about future events and financial trends that the Company believes may affect Company's financial condition, results of operations, business strategy, and financial needs. There is no assurance that the Company's current expectations and projections are accurate. All forward-looking statements in this press release are based on the Company's information on the date hereof. These statements involve known and unknown risks, uncertainties, and other factors that may cause the Company's actual results to differ materially from those implied by the forward-looking statements. The Company operates in a rapidly evolving environment. New risk factors emerge from time to time. The Company does not undertake any obligation to update or revise the forward-looking statements except as required under applicable law. This press release does not constitute or form part of any offer or invitation to purchase, otherwise acquire, issue, subscribe for, sell, or otherwise dispose of any securities, nor any solicitation of any offer to purchase, otherwise acquire, issue, subscribe for, sell, or otherwise dispose of any securities of the Company. The release, publication, or distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this announcement is released, published, or distributed should inform themselves about and observe such restrictions.

CONTACT
Quality Industrial Corp.
315 Montgomery Street, San Francisco
CA 94104, USA
Phone: +1-800-706-0806
Email: info@qualityindustrialcorp.com
Investor site: https://qualityindustrialcorp.com
Twitter: @QualityIndCorp @ILUS_INTL

SOURCE: Quality Industrial Corp.

View source version on accesswire.com:
https://www.accesswire.com/714138/Quality-Industrial-Corp-Expects-To-Close-Its-First-Acquisition-in-September-2022

FAQ

What is the latest acquisition news for Quality Industrial Corp (QIND)?

Quality Industrial Corp (QIND) expects to close its first acquisition in the UAE by September 2022.

How much has Quality Industrial Corp (QIND) paid towards its UAE acquisition?

QIND has completed a first tranche payment of $1 million towards its UAE acquisition.

Who is the new accounting firm for Quality Industrial Corp (QIND)?

Quality Industrial Corp (QIND) has engaged Pipara & Co LLP as its independent registered public accounting firm.

What sectors is Quality Industrial Corp (QIND) exploring for future acquisitions?

QIND is negotiating additional acquisitions in the renewable energy and industrial manufacturing sectors.