Softlab9 Receives Extension on CleanGo GreenGo Acquisition
Softlab9 Technologies (CSE:SOFT)(OTC PINK:SOFSF) announced an extension from the ASC to finalize its acquisition of CleanGo GreenGo Inc.. The deal is progressing, with a definitive agreement expected by October 15, 2020. CleanGo has reported increasing sales and is capitalizing on the ongoing demand for sanitation solutions amid the COVID-19 pandemic. Their innovative fogging technology effectively sanitizes large areas with minimal disruption. CleanGo's range of products includes FDA-approved hand sanitizer, targeting both commercial and consumer markets.
- Acquisition extension allows for careful completion and integration of CleanGo.
- CleanGo's sales are reportedly increasing, highlighting effective market penetration.
- Expansion of CleanGo's fogging technology can enhance market presence and revenue potential.
- Dependence on timely acquisition completion may pose risks if delays occur.
- Uncertainties surrounding regulatory approvals could impact business plans.
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VANCOUVER, BC / ACCESSWIRE / September 11, 2020 / Softlab9 Technologies Inc. (CSE:SOFT)(OTC PINK:SOFSF)(FRA:APO2) ("SOFT" or the "Company"), has received an extension from the ASC to complete its acquisition of CleanGo GreenGo Inc. ("CleanGo")
The Company's acquisition of CleanGo is progressing, and the parties have entered into an agreement amending their letter of intent to extend the timeline. The parties expect to sign a definitive agreement on or before October 15, 2020.
CleanGo GreenGo Operational Update
CleanGo continues to increase sales and market penetration of its cleaning and sanitation solutions.
We understand that companies are worried about the resurgence of COVID-19 Corona Virus, and are diligently sanitizing and disinfecting their premises on a regular basis. The uncertainty of what can come is a heavy weight on the shoulders of business owners today. CleanGo's fogging solution has proven its effectiveness in reducing bacteria and viruses.
Fogging is used predominately for the application of disinfectants, biocides, fungicides and pesticides. The fogging equipment generates a fog or mist formed of Ultra Low Volume droplets. Through vaporisation, airborne and surface-based pathogens are destroyed, so there is no need to move furniture or equipment around for the treatment to work. Fogging is probably the quickest and easiest way to disinfect large areas with minimum disruption to both you and your business.
CleanGo is looking to expand its fogging business across the country using its proprietary patent pending technology. Additional information can be found on CleanGo's fogging website.
Rahim Mohamed, CEO of Softlab9 said, "We continue to push the transaction forward with an aim to have everything completed by next month. With flu season just around the corner, we want to be ready to help people and businesses stay safe."
About CleanGo GreenGo Inc.
Clean Go Green Go Inc. is a Canadian/US Manufacturer of Green, Non-Toxic, and Biodegradable suite of cleaning products for industrial, commercial and consumer markets. CleanGo GreenGo is also an FDA approved, and Health Canada approved Manufacturer of Hand Sanitizer Gel sold throughout the USA and Canada that have been tested in the USA in 2015 to kill the human coronavirus. CleanGo's products are sold in various online platforms, including Amazon, as well as through distribution into retail, wholesale, and government agencies. CleanGo GreenGo utilizes a Patent Pending IP in respect of its intellectual property. The Patent was filed with United States Patent and Trademark Office in February 2020 and currently holds a current Patent Pending Status.
About SoftLab9
SoftLab9 Technologies Inc. is an international publicly traded company that specializes in the development of early staged companies. We provide access to capital, executive management and industry experience to grow our portfolio of companies.
SoftLab9's experienced team bring new ideas and innovation based on science to find solutions to the current world we live in. Customers rely on quality, nontoxic products to keep their homes clean and their loved ones safe, now more than ever during this unprecedented international public health crisis.
For further information please contact:
Rahim Mohamed
Chief Executive Officer
Phone: (403) 605-9429
RM@softlab9.com
https://www.soft-lab9.com/
Paul Searle
Corporate Communications
Citygate Capital Corp
Phone: (778) 240-7724
psearle@citygatecap.com
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward-Looking Information
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements in this presentation that are not purely historical are forward-looking statements and include statements regarding beliefs, plans, expectations, and orientations regarding the future, including without limitation statements related to the completion of the Private Placement and the use of the proceeds therefrom, and the Company's prospect of success in executing its proposed plans, including its plans to complete the acquisition of CleanGo and the prospects for CleanGo's business. Forward-looking statements can often be identified by words such as "will", "plans", "expects", "may", "intends", "anticipates", "believes", proposes" or variations of such words including negative variations thereof and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking statements are based on certain assumptions by management regarding the Company, including, without limitation, investor interest in the Private Placement, and the Company's ability to acquire CleanGo and obtain required regulatory approvals and the timing thereof. Actual results could differ from those projected in any forward-looking statements due to numerous factors including, risks and uncertainties relating to the inability of the Company, to, among other things, obtain any required governmental, regulatory or stock exchange approvals, permits, consents or authorizations required to execute its proposed business plans, and obtain the financing required to carry out its planned future activities. Other factors such as general economic, market or business conditions or changes in laws, regulations and policies affecting the Company's operations may also adversely affect the future results or performance of the Company. The Company can provide no guarantee that it will be successful in completing the Private Placement or completing the acquisition of CleanGo. Investors are cautioned that forward looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company does not intend to update or revise any forward-looking statements, except as expressly required by law.
SOURCE: Softlab9 Software Solutions Inc.
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FAQ
What is the deadline for Softlab9 to finalize its acquisition of CleanGo?
How is CleanGo performing in the current market?
What technology does CleanGo utilize for its disinfection services?
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What challenges might Softlab9 face regarding the acquisition of CleanGo?
