Labor Smart Inc (LTNC)

[ALERTS100%to10000%GAIN]

News Alert: Labor SMART, Inc. Acquires Kwik Jobs, Inc. Operating Assets

Acquisition Expected to Add More than $2 Million in Top Line Revenue in 2015



HIRAM, GA / ACCESSWIRE / September 29, 2014 / Labor SMART, Inc. (OTCQB: LTNC) (the "Company"), a leader in providing on-demand blue collar staffing primarily in the southeastern United States, today announced that the Company has acquired the operating assets of Kwik Jobs, Inc. and its two branches located in Alabama and Georgia. Terms of the all-cash acquisition were not disclosed.

Ryan Schadel, President and CEO of Labor Smart, Inc. said, “We acquired two branches in this acquisition. The one in Alabama will be consolidated with our existing office in Birmingham over the coming months. We also intend to close our existing Houston office as it has not performed up to our expectations. Our intent to re-enter the Texas market by way of acquisition in the near future.”

Schadel added that this acquisition is expected to “add $2-2.7 million in revenue in 2015.” He noted that while the company has significantly slowed its planned organic branch expansion as part of a previously announced strategy shift, Labor SMART will aggressively pursue acquisitions that fit its business model and culture. “We have very specific criteria for our acquisitions, and Kwik Jobs fit that criteria extremely well.”

Schadel also commented briefly on the company’s share price. “Our stock has experienced some downward pressure as of late. I am as concerned about this as other shareholders and want to assure them that the price of the stock is not reflecting the underlying business of the company. The price pressure may be from equity issued to pay off debt, which frequently results in this type of downward pressure. We are aggressively investigating ways in which we might be able to address these dramatic short term changes in our market cap. I believe our fundamentals are what will drive long term share price appreciation. Our business continues to grow and margins are improving drastically. We look forward to a record 2014.”

Labor SMART, Inc. provides On-Demand temporary labor to a variety of industries through 31 branch offices. The Company's clients range from small businesses to Fortune 100 companies. Labor SMART was founded to provide reliable, dependable and flexible resources for on-demand personnel to small and large businesses in areas that include construction, manufacturing, hospitality, event-staffing, restoration, warehousing, retailing, disaster relief and cleanup, demolition and landscaping. Labor SMART believes it can make a positive contribution each and every day for the benefit of its clients and temporary employees. The Company's mission is to be the provider of choice to its growing portfolio of customers with a service-focused approach that enables Labor SMART to be seen as a resource and partner to its clients.