Crednology Holding Corp fka COHO

[mick]

CORRECTION: Crednology Holding Corp. Acquires IT CompanyPress Release | 05/29/2018
Crednology Holding Corp. Acquires IT Company

https://www.otcmarkets.com/stock/COHO/news/CORRECTION-Crednology-Holding-Corp-Acquires-IT-Company?id=193893

The Company announces the closing of the acquisition on May 25th, 2018

Northridge, CAMay 29,2018, Crednology Holding, Corp. (OTC Pink: COHO; "Crednology"), is pleased to announce the acquisition of IT Company

Crednology announces the acquisition of all the assets and goodwill of Evolve Partner Inc. The closing took place on Friday May 25th, 2018 with an effective day of June 1st Both companies staff and management are fully engaged now in completing all knowledge transfer and integrating operations.

Orie Rechtman, CEO of Crednology Holding Corp. commented, We have been working on this transaction for a long time and I am pleased with the timing and the stable state of the company we acquired. We are very familiar with Evolve Partners, their staff and their clients since for a long time we provided Evolve the hosting services as white label package. Integration process is going smoothly and both management teams and engineers are fully engaged in this transition. We expect Evolve to contribute to revenues and EBITDA nicely and provide us many opportunities to grow their client base and increase revenue from existing clients by offering many additional services Rechtman added.

Financing this transaction was made available by direct loan to the company from Mr. Rechtman its CEO. Detail of the financing will become available in the near future with the expiration of the NDA the companies signed.



Crednology Holding Corp, a Delaware corporation, is a public holding company that has been dedicated to enhancing shareholder value through a strategic combination of organic growth, mergers and accretive acquisitions. The Company is engaged in the cloud computing segment of the technology sector as well as the E-Waste and recycling business. The main products and services include cloud computing and virtual environment, disaster recovery and business continuity and managed services to corporate accounts as well as the recycling and disposal of E-Waste and other materials.

California Recycles Inc. is a state certified E-Waste organization founded in 2003. The company primarily operates by entering into long term agreements of collection programs and events with corporate entities, Educational institutions and State and Local municipalities. The state of California is leading the US in the collection of Electronic Waste efforts and each local municipality has a mandate to achieve required quotas of annual collection. The company built a good reputation in the field among it type of clientele.

The market for cloud computing is growing at a staggering pace. In 2015 the industry experienced a rapid growth of 33% with the segment of business reaching over $16 billion by the year end. This market trend is expected to continue with growth of approximately 30% expected annually for the next few years. E-Waste is growing at a significant pace with double digit increases anticipated annually over the next few years.

4Service Cloud Tech AG is a Swiss company that is listed on the Marche Libre/Euronext Paris Exchange.

Safe Harbor and Informational Statement

This press release may contain forward-looking information within the meaning of Section 21E of the Security Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statement of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company's financing plans; (ii) trends affecting the company's financial conditions or results of operations; (iii): the company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends.

The words "may", "would", "will", "expect", "estimate", "anticipate", "believe", "intend", and similar expressions and variations thereof are intend to identify forward-looking statements. Investors are cautioned that any such forward-looking statement are not a guarantee of future of future performance and involve risks and uncertainties, many of which are beyond the company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors including the risk disclosed in the company's statements and reports filed with the OTC Markets. The Company claims the safe harbor provided by Section 21E(c) of the Exchange Act for all forward-looking statements.

For more information contact



Info @crednologyholdingcorp.com