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Intelligent Cloud Resources Inc. Successfully Closes Acquisition with Completion of Definitive Agreements.Font size: A | A | A
2:24 PM ET 7/21/17 | Dow Jones
KANSAS CITY, Mo.--(BUSINESS WIRE)--July 21, 2017--
Intelligent Cloud Resources (OTC: ITLL) is pleased to announce the successful completion of the previously announced acquisition of the innovative Fonia "All Access Mobile" platform perpetual license and world class Leagoo Smart Phones for the territory of Florida. This will be the first step in a program to launch the product and service in multiple territories.
Christopher Pay, Director of ITLL., commented "Today is a historic moment for us. The closing of this transaction opens the door to create substantial growth opportunities and deliver even greater benefits for our customers. We are excited to have completed the transaction which provides compelling value to our stockholders, benefits our customers and provides new opportunities for our employees."
With legal due diligence complete, ITLL and 2440499 Ontario Inc. have finalized the Definitive Agreement (further to the non-Binding MOU announced by ITLL on December 14, 2016) .
About Intelligent Cloud Resources:
The Company has been aiming to offer cloud enabler and cloud broker services to small and medium sized organizations in Canada and plans to expand to such organizations. The launch of the Fonia "All Access Mobile" platform will be a powerful consumer oriented addition to Intelligent Cloud Resources' product offering.
The Fonia "All Access Mobile" Inc. is an end-to-end Mobile solution, working primarily to serve individuals, regardless of their credit score, through an MVNO (Mobile Virtual Network Operator) Fonia Mobile (and Fonia Financial). The Fonia "All Access Mobile" service will bundle a traditional handset sale with a hybrid phone rate plan (a mix of prepaid and postpaid plans) and a prepaid MasterCard. This benefits customers immediately as they can achieve a more affordable phone plan through Fonia, and build a credit history.
For more information visit: www.intelligentcloudresources.com
