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$CATV .002's coming
NEWS: QIND Signs Binding Term Sheet with Nasdaq Listed Actelis Networks
Thursday, 23 May 2024 09:00 AM
ACCESSWIRE | Article
Quality Industrial Corp.
Topic: Mergers and Acquisitions
SAN FRANCISCO, CA / ACCESSWIRE / May 23, 2024 / Quality Industrial Corp. (OTC PINK:QIND) ("QIND" or "Company") is a manufacturer and service provider for the industrial, oil & gas, and utility sectors. The company has signed a binding term sheet with Actelis Networks, Inc. ("Actelis") for Actelis to acquire 61% to 75% of the issued and outstanding shares of the Company, subject to customary terms for closing.
Actelis Networks, Inc. is a market leader in cyber-hardened, rapid-deployment networking solutions for wide-area IoT applications including federal, state and local government, ITS, military, utility, rail, telecom and campus applications. Actelis' unique portfolio of hybrid fiber, environmentally hardened aggregation switches, high-density Ethernet devices, advanced management software and cyber-protection capabilities, unlocks the hidden value of essential networks, delivering safer connectivity for rapid, cost-effective deployment.
John-Paul Backwell, CEO of QIND, stated, "Teaming up with Actelis opens up new opportunities for the expansion of our company. Harnessing the advanced technologies and smart-grid solutions that Actelis already provides to its energy, gas and utilities customers in Europe and the USA, can significantly increase our business efficiencies. The acquisition by Actelis also provides us with a strong foundation for future planned acquisitions."
Further synergies with Actelis are being explored with QIND's sister company, Emergency Response Technologies Inc. (ERT), which is not part of this transaction. ERT designs, manufactures, and supplies patented firefighting technologies and various solutions for the public safety sector.
QIND's operating business reported $11 million in revenue and $1.8 million in net income in 2023. For the first quarter ending March 31, 2024, QIND's revenues were approximately $3.1 million, and its net income was approximately $0.76 million. The company is projecting substantial growth in 2024. QIND currently services nearly 40,000 customers across the UAE with 7 operating facilities, dozens of vehicles, and approximately 100 employees. The company is internationally certified, local government approved, and services customers such as Emirates Airlines, Emaar, Government of Dubai, Dubai Properties, WASL Group, and many others.
QIND currently operates a manually intensive operation and requires the reliable networking and smart applications provided by Actelis to deliver remote monitoring, automated delivery and billing, as well as real-time forecasting and supply chain optimization. The company believes that Actelis' technology is integral to its reduction of operational costs and ability to win new contracts.
Tuvia Barlev, Chairman and CEO of Actelis, stated, "We are excited to team up with QIND as it opens new geographies for us in the Middle East and Africa with applications in new, critical verticals such as energy, utilities, and public safety.
Terms of the Transaction
At the Closing, in consideration for the purchased shares, Actelis will issue to the Sellers 19.99% of its common stock and preferred non-voting shares for the balance of the consideration. The companies are planning to close the transaction, pending regulatory requirements and due diligence, within 60 days. The preferred shares shall not be convertible to common stock before six months after the closing or until a registration statement is effective, whichever occurs sooner. The exact number of shares of the Company to be issued to the sellers will be based on a ratio of valuations of ASNS and QIND to be determined between the parties before closing.
The binding term sheet is subject to customary due diligence requirements and other covenants including but not limited to the raising of additional funding.
The Term Sheet includes a 60-day non-solicitation obligation and a break-up fee.
About Quality Industrial Corp.:
Quality Industrial Corp. (OTC PINK:QIND) is a Manufacturer and Service Provider for the Industrial, Oil and Gas, as well as the Utility sectors. It is involved in the design, consultation, supply, installation, and maintenance of liquefied petroleum gas (LPG) systems. The company also provides LPG cylinder distribution and bulk gas supply solutions. It serves commercial buildings, mixed-use apartment complexes, shopping complexes, food courts, heavy industries, labor accommodations, catering units, commercial kitchens, and restaurants. The company was formerly known as Wikisoft Corp. and changed its name to Quality Industrial Corp. in August 2022. The company is headquartered in San Francisco, California. For more information, please visit www.qualityindustrialcorp.com .
About Actelis Networks, Inc.:
Actelis Networks, Inc. is a market leader in cyber-hardened, rapid-deployment networking solutions for wide-area IoT applications including federal, state and local government, ITS, military, utility, rail, telecom and campus applications. Actelis' unique portfolio of hybrid fiber-copper, environmentally hardened aggregation switches, high-density Ethernet devices, advanced management software and cyber-protection capabilities, unlocks the hidden value of essential networks, delivering safer connectivity for rapid, cost-effective deployment. For more information, please visit www.actelis.com.
FORWARD-LOOKING STATEMENTS
This press release contains statements of a forward-looking nature about the Company. You can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "future" or other similar expressions. The Company has based these forward-looking statements primarily on the Company's current expectations and projections about future events and financial trends that the Company believes may affect Company's financial condition, results of operations, business strategy, and financial needs. There is no assurance that the Company's current expectations and projections are accurate. All forward-looking statements in this press release are based on the Company's information on the date hereof. These statements involve known and unknown risks, uncertainties, and other factors that may cause the Company's actual results to differ materially from those implied by the forward-looking statements. The Company operates in a rapidly evolving environment. New risk factors emerge from time to time. The Company does not undertake any obligation to update or revise the forward-looking statements except as required under applicable law. This press release does not constitute or form part of any offer or invitation to purchase, otherwise acquire, issue, subscribe for, sell, or otherwise dispose of any securities, nor any solicitation of any offer to purchase, otherwise acquire, issue, subscribe for, sell, or otherwise dispose of any securities of the Company. The release, publication, or distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this announcement is released, published, or distributed should inform themselves about and observe such restrictions.
CONTACT
Quality Industrial Corp.
315 Montgomery Street, San Francisco
CA 94104, USA
Phone: +1-800-706-0806
Email:info@qualityindustrialcorp.com
Investor site:https://qualityindustrialcorp.com
Twitter: @QualityIndCorp @ILUS_INTL
SOURCE: Quality Industrial Corp.
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https://www.stocktitan.net/news/GRLF/
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https://www.stocktitan.net/news/GRLF/
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NEWS -Blackwell 3D is Pleased to Announce the Appointment of New Chief Financial Officer
DUBAI, UAE - (NewMediaWire) - May 20, 2024 - Blackwell 3D Construction Corp. (OTC: BDCC) ("Blackwell 3D or the "Company"), an innovative 3D house printing technology company focused on revolutionizing the construction industry by printing environmentally friendly 3D homes in a fraction of the time and at a fraction of the cost of traditional homes, proudly announces the appointment of Mr. Krishnendu Chatterjee to be the Companys new Chief Financial Officer (CFO) and Treasurer.
We are excited to have Krishnendu join our team, especially because of his vast experience in Financial Planning and Analysis and Strategic Planning. I am beyond confident Krishnendu will be a major asset to our business as we embark on this steep growth trajectory across every facet of our business, stated Blackwell 3D CEO Mohammed Saif Zaveri.
Krishnendu comes with the experience we were looking for and the requisite enthusiasm! He has a proven track record of helping both private and public companies accelerate growth and achieve scale, bringing to Blackwell 3D many years of relevant experience. Most recently, Mr. Chatterjee served as Chief Financial Officer at Metapixel Global Information Technology Consultants LLC based in Dubai (UAE). Previously, Krishnendu has held other positions, including that of Senior Vice President (Investment Banking Division) at Credit Suisse AG in Sydney, Australia.
Our company is undergoing a period of tremendous growth. Adding Krishnendu to our management team will be invaluable to our continued development and success. He will play a significant role in helping us to manage, scale and evolve our business as we continue to accelerate our momentum in the 3D printing space, concluded Zaveri.
I am excited to join the team at Blackwell 3D and to become a part of the future growth of a company in which I believe and that I am confident will become a leader in the 3D home printing sector, said Mr. Chatterjee.
For more information, please visit www.blackwell3d.com for the most up to date information about the Company.
ABOUT BLACKWELL 3D CONSTRUCTION CORP.
Blackwell 3D Construction Corp. owns certain innovative 3D house printing technology assets aimed at revolutionizing the construction industry. Our goal is to specialize in printing fully functional and livable residential housing and small scale apartment buildings in a fraction of the time and cost compared to traditional construction methods. Initially, our focus will be on launching in South East Asia. Our 3D house printing process involves using a large-scale printer and a specialized concrete mixture to create the structural components of the house. The printing process is highly automated, allowing us to create intricate designs and details with precision. Our company's unique approach to construction has several advantages. Firstly, our 3D printed houses are much faster to build than traditional houses, taking only a few weeks to complete. Secondly, our process is much more environmentally friendly, producing less waste and using less energy. Thirdly, our construction costs are significantly lower, allowing us to offer affordable housing solutions. We cater to a diverse range of clients, including individuals, businesses, and governments, who are looking for a modern and cost-effective solution to their construction needs. Our experienced team can design customized houses that meet our clients' specific requirements and preferences. We are constantly innovating and improving our technology to provide even better solutions for our clients.
Important Notice Regarding Forward-Looking Statements
These forward-looking statements are not guarantees of future performance and are subject to various risks and uncertainties, assumptions (including assumptions about general economic, market, industry and operational factors), known or unknown, which could cause the actual results to vary materially from those indicated or anticipated. Such risks and uncertainties include, but are not limited to: Blackwell 3D's ability to continue as a going concern; Blackwell 3D's ability raise additional capital to fund its business on acceptable terms or at all; Blackwell 3D's ability to negotiate and consummate a financing or other strategic transaction; changes in the competitive industries in which the Company operates and variations in operating performance across competitors; changes in laws and regulations affecting Blackwell 3D's business; the risk of downturns in the market and Blackwell 3D's industry; risks related to the uncertainty of the projected financial information with respect to Blackwell 3D; risks related to Blackwell 3D's limited operating history and history of losses; the timing of expected business milestones; Blackwell 3D's ability to implement its business plan and scale its business; Blackwell 3D's ability to formulate, implement and modify as necessary effective sales, marketing, and strategic initiatives to drive revenue growth; Blackwell 3D's ability to expand internationally; the viability of Blackwell 3D's intellectual property and intellectual property created in the future; government regulations and Blackwell 3D's ability to obtain applicable regulatory approvals and comply with government regulations; and the outcome of any legal proceedings that may be instituted against the Company. A further list and description of risks and uncertainties can be found in the most recent filings with the Securities & Exchange Commission (www.sec.gov) and with OTC Markets Group Inc. (www.otcmarkets.com). Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements relate only to the date they were made, and the Company undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation.
Contact:
Investor Relations
IR@BLACKWELL3D.COM
+1 (702) 718-0807
Excellent to see the Verified Profile updated 05/2024 -The Company Profile data was verified by the issuer
$BDCC 0.34 +6.25% Pink Current - Blackwell 3D Construction Corp