LAS VEGAS, NV--(Marketwired - May 02, 2017) - Southern ITS International, Inc. (OTC PINK: SITS) announced today that it has signed a Letter of Intent ("LOI") with Evolution Enterprises, LLC. ("Evolution") to acquire Evolution. Evolution owns and controls a portfolio of highly successful businesses that focus on direct sales network. With its experienced management team in the direct sales industry, Evolution reaches the US and international markets. Based on the Direct Selling Association ("DSA") 2015 Overview, more than 20 million people were involved in direct sales with an estimated $36 billion in sales. Evolution and its flagship division, Evolution Travel (www.myevolutiontravel.com), created a complete travel web portal with connectivity to the top travel industry providers, allowing its members to become professional home based travel agents and maximize the benefits to each of its members. Evolution Travel uses all of the social media tools to reach and promote its unique partners reward program that exceeds industry norms. The travel industry according to The World Travel & Tourism Council (WTTC) showed revenues exceeding $8 trillion for 2015.
David McCovy, founder of Evolution, stated, "Evolution Travel generated sales in excess of $10 million and recruited several thousand members during 2016, our first full fiscal year. We created amazing momentum and are confident to double our sales for 2017. We are uniquely positioned to offer true opportunity to our direct sales partners and a piece of the $8 trillion travel industry. Based on becoming public through the acquisition by SITS, we will look to facilitate our acquisitions program in our three key industries: travel, entertainment, and health."
The LOI was executed on Friday, April 28, 2017 and is valid for 30 days and shall provide Evolution time to complete due diligence and documentation to complete the acquisition and assume control of SITS. When completed the company is expected to change its name and replace all existing directors, officers and management.
Sylvain Desrosiers stated, "We are very excited for the shareholders of SITS to provide this unique opportunity and value creation. We are working hard to complete the merger before May 19, 2017."
