TGI Subsidiary to Acquire Miami- based Metaverse Developer XR-Labs
TGI Solar Power Group (OTCMarkets: TSPG) announced on July 26, 2022, that its subsidiary, Advent Galaxy Inc., has reached an agreement to acquire XR-Labs, a Miami-based LLC specializing in extended reality (XR) and augmented reality (AR). The acquisition aims to enhance TGI's market position within the burgeoning XR sector, supported by XR-Labs' talented team and innovative projects. CEO Henry Val emphasized the operational synergies expected from this deal, which may drive revenue growth and increase shareholder value.
- Acquisition of XR-Labs enhances TGI's position in XR/AR market.
- Access to innovative projects like XR Miami EXPO.
- Synergies anticipated to drive revenue growth.
- None.
MIAMI, FL / ACCESSWIRE / July 26, 2022 / TGI Solar Power Group, Inc., (OTCMarkets:TSPG) ("TGI"), is pleased to announce that Advent Galaxy Inc., a wholly owned subsidiary of TGI Solar Power Group Inc., has come to terms with XR-Labs to acquire the Miami-based LLC. The two companies will look to finalize the deal as soon as the requisite due diligence reviews have been completed by TGI management, accountants, and attorneys.
After months of seeking out potential targets, TGI Chief Executive Officer Henry Val saw the passion and expertise in XR-Labs that the company was looking for in an acquisition candidate, in addition to the obvious operational and logistical benefits.
"XR-Labs was vetted very carefully and strategically chosen," Mr.Val noted. "It was ideal for TGI that their company is based in Miami and is currently a hub for extended reality (XR) and augmented reality (AR) developments. Add in that XR has an aggressive team made up of young, talented, and driven developers and this deal started to make sense very quickly."
Paul Bronstein, managing partner of the acquiree, describes XR-Labs as a community of professionals who are building and connecting Global AR/VR/XR Networks and creating next XR product solutions. (www.xr-labs.io).
"We are community for innovation, design and engineering creativity and XR-Labs utilizes the latest technologies and methodologies so that we may assist clients in every way possible," Bronstein said. "Our team specializes in preparing our clients and their brands to be able to catapult them into Web3.0 digital and the cognitive future."
The two major projects currently being developed by XR-Labs are XR Miami EXPO and a movie-themed Galaxy that pays homage to one of the biggest movie hits of the 1980s.
"Our dream is to find and work with world class clients from around the world," Bronstein added. "Our goal is augmenting AR/XR/VR for your Company, your people, your avatars, your products and services through digital and cognitive transformation."
Coined by the Washington Post, Forbes Magazine, and many other outlets as the next generation of the internet, the metaverse promises a whole new reality where users are not limited by the physical space in which humans exist.
"There is such tremendous synergy between our two companies, and I can't wait to implement our business plan for the metaverse and watch it all come to fruition," Val added. "This acquisition will not only fill unmet market needs but will drive revenue and growth that will increase shareholder value and demand in the market for our shares."
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About XR-LABS: Founded in Miami, FL XR-LABS is a co-created community of professionals and enthusiasts who are passionate about building and connecting Global AR/VR/XR Networks, which aim to integrate with other emerging technology. We seek to empower and accelerate Tech Communities and content creators. Seeking to both catalyze and inspire Local and global Alliances, our long-term goal is to create Original IP Content and showcase the latest and greatest in the Global XR industry
.
Step into the world's 1st MetaCity fueled by XR-LABS and Advent Galaxy Inspired by the Art, Tech, and Culture of Miami
XR Miami is here bring you the best of Magic City by falling into grassroot bottom-up Tech community Hub that can bridge, discover, and uplift all the unique XR Companies and individuals
Starting un 2022 XR Miami Metaverse will be the only Web Dapp Metaverse in the world with Multi-Chain adoption and NFT Marketplaces for all of Miami real world businesses and places
About ADVENT GALAXY Inc. and its main product ADVENT EXPO: Expo is going to become a central meeting place and center for important social interactions between people of diverse backgrounds and age groups. Underlying technology allows for merchants, consumers, and large enterprises to be replaced by a virtual EXPO in the metaverse. EXPO will cater to B2C+B2B+B2E= B2X, or simply stated B2All.
Entertainment zones, meeting and interacting with your friends at a coffee shop in real time is the future. Conducting business in co-working spaces without leaving one's house is the future. A VR/ AR ADVENT™ EXPO is coming soon and will become a reality, thanks to Advent Galaxy.
About TGI Solar: TGI SOLAR POWER GROUP INC. is a diversified holding company. TGI's strategy is to acquire innovative and patented technologies, components, processes, designs, and methods with commercial value that will give competitive market advantage and generate shareholder value.
Safe Harbor statements under the Private Securities Litigation Reform Act of 1965: Those statements contained herein which are not historical are forward-looking statements, and as such are subject to risks and uncertainties that could cause actual operating results to materially differ from those contained in the forward-looking statements. Such statements include, but are not limited to, certain delays that are beyond the company's control, with respect to market.
Contact:
Henry Val: 917-353-5099
SOURCE: TGI Solar Power Group, Inc.
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