Southern ITS International, Inc. to Acquire a Thirty Percent Ownership Interest in e-Commerce Company, Growth Goods, Inc.
Southern ITS International, Inc. (SITS) announced an agreement to acquire a 30% ownership stake in Growth Goods, Inc., an e-Commerce firm based in Des Moines, Iowa. The acquisition aims to enhance Southern ITS's operational capabilities by utilizing Growth Goods for online order management, warehousing, and distribution for its subsidiary, Shibue Couture, Inc.. CEO James Shipley expressed optimism about the partnership’s potential to significantly increase market exposure and sales for the Shibue product line. The transaction is expected to finalize within the next 30 days.
- Acquisition of a 30% stake in Growth Goods, Inc. enhances operational capabilities.
- Partnership expected to boost market exposure and sales for Shibue Couture.
- None.
Palm Desert, California, March 10, 2022 (GLOBE NEWSWIRE) -- Southern ITS International, Inc. (OTC Pink: SITS) announced today that it has reached an agreement in principle with Growth Goods, Inc. to acquire a Thirty percent ownership interest in the Des Moines, Iowa-based e-Commerce company.
James Shipley, CEO of Southern ITS International, Inc., commented, “We are excited at the prospect of our investment in Growth Goods, Inc. and look forward to finalizing the transaction. Growth Goods is a fast-growing e-Commerce company which provides the complete spectrum of e-Commerce fulfillment services, including online order management, warehousing, distribution, and delivery services for a wide variety of consumer products.”
Mr. Shipley added, “In the very near future, we will be utilizing Growth Goods, Inc. to handle all of our online order management, warehousing, and distribution needs for our subsidiary, Shibue Couture, Inc. (www.shibuecouture.com), a designer, manufacturer, and seller of innovative women’s intimate apparel, and anticipate that Growth Goods will greatly expand the market exposure and sales of the Shibue product line.”
The transaction is expected to close within the next 30 days.
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 being a multinational conglomerate. As a holding company, Southern ITS International is presently 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 purpose of Southern ITS International's acquisition of Growth Goods, Inc.?
When is the acquisition of Growth Goods, Inc. expected to close?
What percentage of Growth Goods, Inc. is Southern ITS International acquiring?
How will Growth Goods, Inc. impact Shibue Couture's sales?
