BOOM $TVOG Turner Announces Corporate Update On Closings And New Infrastructure Technology Acquisition
December 2, 2018 No Comments
HOUSTON, Texas – 12/02/18 – Website Announcement – Turner Valley Oil and Gas, Inc. (the “Company”) (OTC: TVOG), is pleased to provide shareholders updates on recent corporate events as it prepares to close a previously announced acquisition and embark on a major acquisition and growth initiative. This includes a series of smaller and mid-sized acquisitions that will help establish an operating platform across divisions of infrastructure including services, supply chain and technology.
CURRENT ACQUISITIONS
To start, Turner is completing the due diligence and audits of it’s recently announced acquisition under agreement with a U.S. based asphalt company with a current EBITDA of over $1,000,000 per year. The company expects upon completion of the acquisition with the to be named Company; that it will release details, including growth plans and forecasts.
Next, shareholders can expect a pending press release concerning the acquisition of a Disruptive Labor Technology Company which has current operations throughout the central and southwest regions of the U.S. Turner is excited to acquire this new Labor Technology company which is believed to have the potential to become a major force in how businesses source their contractors, employees and labor. The technology has been engineered and Phase 1 is already operating with revenue generation with a special focus on building users in the construction industry, specifically as it pertains to infrastructure. This supports the integration of Turner’s business model and supply chain initiative. Details of the acquisition will be released post haste, including specifics on how the company will be acquired as a wholly owned subsidiary in exchange for investment capital.
POTENTIAL ACQUISITIONS
In prior announcements, the Company cleared a path for a series of acquisitions within the services and supply chain markets by utilizing a build & bolt-on model within the real assets, energy, infrastructure, bitumen, and asphalt segments. Turner management has advanced the due diligence process within the infrastructure markets on a core group of over 10 target acquisitions with potential gross revenue of $90,000,000.00 and EBITDA pre-consolidation of over $11,000,000.00. Turner is getting new deal flow each week and steps are already underway include vetting out each opportunity, working to integrate them into existing operations, and engaging in final negotiations in order to complete these initial acquisitions.
STOCK PLACEMENT PLAN
The Company intends to advance plans for a Preferred Stock placement as previously described in prior announcements. It has met with its investment banking advisor (s) and has plans to advance key strategic capital placement plans, including a private placement offering (The’ Private Placement’) based on what was previously modeled. This will allow Turner to be able to support future capital expenditures in order to meet the ongoing capital needs for the acquisitions and investment of operating profitable businesses. The minimum initial placement is estimated to be $2,000,000.00 with scalability to $25,000,000.00 as originally modeled. A new investment banking engagement will be negotiated and executed as part of the this process and will be filed and announced at that time.
In conjunction with the above events, CEO Steve Helm stated, ”We are very pleased to move forward with the acquisition plans that Turner has been working hard to accomplish. We appreciate the patience that shareholders have shown, and we are looking forward to rewarding that patience with a series of upcoming announcements that will take Turner from early stage to multiple fully operating divisions.”
