DNA Brands Inc (DNAX)

[shanak10]

DNA Brands Signs LOI To Acquire Solar Company
11:09 AM ET 2/21/20 | Dow Jones


FORT LAUDERDALE, FL / ACCESSWIRE / February 21, 2020 / DNA Brands Inc., is pleased to announce that the company has signed a Letter of Intent (LOI) to acquire 954Solar. 954Solar is a solar company, located in the beautiful Sunshine State of Florida.

"Since talks have been ongoing for about 2 months, this LOI confirms both parties desire to scale and grow their respected business under the DNA umbrella, with this proposed acquisition. 954solar has been in business since July of 2018. In 2019, 954Solar produced revenue of approximately $1.3 Million in residential sales, concentrating only in Broward and Palm Beach County Florida." stated DNA CEO Adrian McKenzie.

Once the transaction is closed, the goal will be to scale the solar business at a national level, as a Solar sales brokerage firm. Brokering both Commercial and Residential solar sale jobs. Andrew Ferrin CEO of 954Solar has been a consistent top producer in the solar industry for the past 5 years. DNA has identified a call center and a virtual online sales platform for solar sales (that can be scaled infinitely). The sales team will concentrate on Solar friendly States such as AZ, CA, FL, IL, NJ, NY, that offer Federal solar tax credit incentives

According to IHS Markit, a world leader in critical information, analytics and solutions (which trades on the NYSE), the American and European Solar industry has grown sevenfold in the last decade and is slated in the coming years for continued double-digit growth.

https://news.ihsmarkit.com/prviewer/release_only/slug/bizwire-2020-1-7-solar-installations-to-grow-by-additional-142-gw-in-2020-seven-times-the-worlds-total-solar-installations-a-decade-ago