Spotlight Capital Holdings Announces Acquisition of Chevine Transport LLC

Rhea-AI Summary

Spotlight Capital Holdings (OTCMKTSPINK: SLCH) has finalized its acquisition of Florida-based Chevine Transport LLC for $2.5 million in stock. This strategic move positions Spotlight Capital to enter the Transportation and Logistics sector, enhancing its portfolio with a revenue-generating asset. Chevine Transport, led by founder Lesline Johnson, operates a fleet of semi-trucks providing supplemental services to larger trucking firms. Spotlight plans to scale Chevine's operations, increasing fleet size and addressing workforce shortages to enhance efficiency in logistics for its entertainment division.

Positive

• Acquisition of Chevine Transport enhances Spotlight's service offerings in logistics.
• Strategic entry into the Transportation and Logistics sector with growth potential.
• Planned scaling of operations and fleet size to increase efficiency and profitability.

Negative

• None.

LAS VEGAS, Jan. 18, 2022 (GLOBE NEWSWIRE) -- Spotlight Capital Holdings (OTCMKTSPINK: SLCH) is proud to announce that it has completed the acquisition of Florida-based trucking company Chevine Transport LLC. This acquisition has secured an entry position for Spotlight Capital to move into the ever-expanding yet the necessary world of Transportation and Logistics. Chevine Transport led by its founder Ms. Lesline Johnson has successfully positioned the company to be scaled, the company operates a small fleet of semi-trucks providing on-demand supplemental services as a contract carrier to larger trucking companies and third-party logistics providers.

“This move into trucking stand-alone will be a value add and a revenue-generating asset within Spotlight Capital’s portfolio,” said newly appointed president Deshorn King. The deal comes to a close after months of negotiations and structuring resulting in a 2.5 million dollar acquisition via stock. The combined companies will initiate Spotlight Capital’s efforts to secure and raise capital to scale Chevine’s business models. The company plans on increasing its fleet size and equipment, rolling out various personnel programs to address the workforce shortage within the trucking industry, and acquiring strategic terminals throughout the US in order to increase efficiency and excess to profitable markets. As for Spotlight Capital and its various ventures, the company has embarked on this acquisition will play a necessary role in providing logistics services to its entertainment division whether it hauling equipment to and from locations for concerts or in support of Spotlight's future movie productions. The company and its members are excited to add Chevine Transport to the family and have high hopes for the company in the near future.

For more information, please contact Info@spotlightcapitalholdings.com

Safe Harbor Statement This news release may contain "forward-looking" statements. These forward-looking statements are only predictions and are subject to certain risks, uncertainties, and assumptions that could cause actual results to differ from those in the forward-looking statements. Potential risks and uncertainties include such factors as uncertainty of consumer demand for the Company's products, as well as additional risks and uncertainties that are identified and described in the Company's SEC reports. Actual results may differ materially from the forward-looking statements in this press release. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company does not undertake, and it specifically disclaims, any obligation to update any forward-looking statements to reflect occurrences, developments, events, or circumstances after the date of such statements.

Media Contact; 5904 Rainbow Boulevard Las Vegas, NV 89118, (321) 848-3437, info@spotlightcapitalholdings.com

FAQ

What is the significance of Spotlight Capital's acquisition of Chevine Transport?

The acquisition allows Spotlight Capital to enter the Transportation and Logistics industry, adding a revenue-generating asset to its portfolio.

How much did Spotlight Capital pay for Chevine Transport?

Spotlight Capital acquired Chevine Transport for $2.5 million in stock.

What plans does Spotlight Capital have for Chevine Transport after the acquisition?

Spotlight plans to scale Chevine's operations, increase its fleet size, and address workforce shortages in the trucking industry.

How will this acquisition impact Spotlight Capital's entertainment division?

The acquisition will provide logistics services for transporting equipment for concerts and future movie productions within Spotlight's entertainment division.