R-Three Technologies Inc. Announces Acquisition of US-owned Societe Crane & Associates
R-Three Technologies Inc. (OTCMKTS: RRRT) has announced its acquisition of Societe Crane & Associates, a leading construction firm in Africa. This strategic move is aimed at enhancing R3T's international presence and revenue streams, with expected revenues of up to $60 million annually and a net profit of $10 million. Joe Crane, founder of the acquired firm, will lead R3T's International Development Division. The acquisition is viewed as a crucial step toward R3T's goal of becoming a dominant player in the global market, signaling positive momentum for shareholder value.
- Acquisition of Societe Crane & Associates expands revenue and profit potential.
- Projected revenues of up to $60 million and net profits of $10 million enhance financial outlook.
- Joe Crane's leadership in R3T's International Development Division brings valuable experience.
- None.
Publicly-traded company acquires leading African development company
NEW YORK, NY, March 29, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – R-Three Technologies Inc. (OTCMKTS: RRRT) (R3T) has just executed an agreement with Societe Crane & Associates which brings an international revenue and profit stream into its portfolio. This acquisition is a building block in R3T’s plan to become a dominant international corporation in order to provide maximum shareholder value.
“Today we announce our plan to acquire Societe Crane and Associates. I’ve had the privilege to work with Joe Crane and his team for the past several months and am convinced of the enormous value this will give to our company and shareholders,” said William Benson, CEO of R3T. “Joe Crane set a vision in place for Societe Crane and Associates using his experience and multiple contracts to become one of the premier construction companies in Africa. His background in construction and large-scale international project management along with his experience in US-government contracting brings a new, dynamic force into our firm.”
Benson continued, “I am delighted to announce today that Joe Crane is to become President of R3T’s International Development Division. Together, we will change the way international construction and government projects are managed with cutting-edge technology, world-class management teams and networks reaching the best and brightest of Africa’s booming future. American talent and products are highly prized with our African partners and we are excited to bring our capabilities at this exciting time to the African marketplace.”
Societe Crane and Associates is a Brazzaville-based company (Republic of Congo) and began its Congolese operations in February of 2021 in order to complete renovations of the US Embassy in Brazzaville under the State Department’s Overseas Building Office (OBO). Joe Crane has been working in Africa since 2007 where he has successfully completed multiple government, heavy-industry and commercial construction projects across the African continent.
“Today is a great day, and I want to thank William Benson for having the vision to understand the enormous benefits which my business can bring to a public company,” said Joe Crane. “As President of R3T’s International Development Division, we will be positioned to be a leader in Africa. With our current book of business and pipeline, we will continue to oversee large, profitable and lucrative projects in the immediate future.”
Societe Crane and Associates has an exclusive position for the ownership of the stock on ground (pre-crushed aggregate), the equipment for four plants and the future crushing and sales of aggregate. The Business is the sole supplier of aggregate in Congo. Aggregate is a fundamental product for all concrete, road and infrastructure projects. Current estimates value the aggregate plants at over
With the acquisition, R3T instantly becomes a leader in the African construction market. Having just announced William Benson as CEO and the addition of Societe Crane and Associates, the company continues to accelerate to a truly global organization. This planned initial acquisition is one of many that will be announced over the next several months at part of the 2022 strategic plan. This acquisition showcases to shareholders the momentum we are building and the execution of the R3T’s strategic plan.
About Societe Crane and Associates Construct, LLC.
Societe Crane & Associates is an officially recognized Congolese corporation specifically created by Mr. Crane in Brazzaville and licensed for large scale government/NGO construction projects, real estate and public infrastructure projects. The Company is licensed to do business with all government ministries.
About R-Three Technologies Inc.
R-Three Technologies (R3T) (OTCMKTS: RRRT) is the home of cultural innovation. Business lines include technology, consumer food & beverage products, sports & entertainment & now, International development.
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Forward-Looking Statements
Certain statements contained in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include but are not limited to statements identified by words such as "believes," "expects," "anticipates," "estimates," "intends," "plans," "targets," "projects" and similar expressions. The statements in this release are based upon the current beliefs and expectations of our company's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Numerous factors could cause or contribute to such differences, including, but not limited to, the challenges inherent in new industry development initiatives, the effects of competition, our ability to license and protect our intellectual property, our ability to raise additional capital in the future that is necessary to maintain our business, as well as other risks discussed from time to time in our filings with OTC Markets including, without limitation, our Annual Report recently filed. We undertake no duty to update any forward-looking statement or any information contained in this press release or in other public disclosures at any time. Finally, the investing public is reminded that the only announcements or information about R-3 Technologies Inc. which are condoned by the Company must emanate from the Company itself, and bear our name as its Source.
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