SOUTHERN ITS INTERNATIONAL, INC. COMPLETES ACQUISITON OF SHIBUE COUTURE, INC.

Rhea-AI Summary

Southern ITS International, Inc. (OTC Pink: SITS) has successfully completed the acquisition of Shibue Couture, Inc., a company known for its innovative Shibue “No-Line” Strapless Panty. The transaction, valued at $2.5 million, involved the exchange of shares between the two companies. With this acquisition, Southern ITS aims to leverage its marketing expertise to enhance online sales and visibility for Shibue's product line. Shibue Couture will function as a wholly owned subsidiary going forward.

Positive

• Acquisition of Shibue Couture enhances product portfolio in women's intimate apparel.
• Transaction valued at $2.5 million indicates strong market confidence.
• Plans to utilize experienced marketing and internet sales teams to boost sales.

Negative

• None.

Palm Desert, CA, Feb. 17, 2022 (GLOBE NEWSWIRE) -- Southern ITS International, Inc. (OTC Pink: SITS) is pleased to announce that it recently closed the transaction whereby it acquired Shibue Couture, Inc., a California corporation. 

Shibue Couture, Inc., (www.shibuecouture.com) is a Huntington Beach, California-based designer, manufacturer, and seller of women’s intimate apparel.  It was formed in 2008 and is best known for its groundbreaking Shibue “No-Line” Strapless Panty, which has revolutionized both the fashion industry and solved the problem of visible panty-lines for everyday women.

The Shibue products are currently available in a number of nationwide retail stores and online.  Southern ITS International, Inc. intends to capitalize on its newly established, but well-experienced, marketing and Internet sales teams to promote the full Shibue product line to greatly increase the exposure and resulting sales of the Shibue products online.   

Southern ITS International, Inc. disclosed that the transaction closed on February 15, 2022 and resulted in an exchange of all of the issued and outstanding shares capital stock of closely held Shibue Couture, Inc. for shares of a series of convertible preferred stock of Southern ITS International, Inc., valued at $2,500,000.  No further terms of the transaction were disclosed.   Going forward, Shibue Couture, Inc. will operate as a wholly owned subsidiary of Southern ITS International, Inc.

About Southern ITS International, Inc.

Southern ITS International, Inc. intends to own and/or control a portfolio of highly-successful businesses and will focus on a being a multinational conglomerate. As a holding company, Southern ITS International will be in the market to acquire a stake in various companies, both public and private. It will also focus on building a direct sales network of various e-commerce internet applications, manufacturing, and internet sales of various products. We will build an experienced management team that will build a diverse portfolio, buying entire companies, or interests therein, involved in technology, oil and gas, manufacturing, real estate, and other sectors, which will then become operating subsidiaries of Southern ITS International. 

Precautionary and Forward-Looking Statement                                                       

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude or risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of several factors, and other risks identified in the Company's disclosures or filings with the SEC or OTC Markets, Inc. You are further cautioned that penny stocks and stocks of smaller companies like Southern ITS International, Inc. are inherently volatile and risky, and that no investor should buy this stock unless they can afford the loss of their entire investment.

Contact:  Southern ITS International, Inc.
                Investor Relations
                442-300-6522
                info@sitsintl.com

Source:  Southern ITS International, Inc.  

FAQ

What is the significance of Southern ITS acquiring Shibue Couture?

The acquisition allows Southern ITS to expand its portfolio in women's intimate apparel and leverage Shibue's innovative products.

When did the acquisition of Shibue Couture take place?

The acquisition closed on February 15, 2022.

What is the value of the acquisition deal for Shibue Couture?

The transaction was valued at $2.5 million.

How will Southern ITS promote Shibue's products after the acquisition?

Southern ITS plans to use its marketing and internet sales teams to increase exposure and sales for Shibue's products.