NextMart, Inc. - New Oil Field Service Company Acquisition
HOLYOKE, Mass., July 1, 2022 /PRNewswire/ -- NextMart, Inc. (the "Company" or "NXMR" - Pink Sheets Alternative Reporting Pink: NXMR) – NXMR would like to announce it completed the acquisition of Two Brothers Services, LLC, a New Mexico limited liability company, that provides oil field services in the Permian Basin ("Two Brother Services").
The Company acquired all of the control equity of Two Brothers Services pursuant to a share exchange agreement dated June 16, 2022, for 30,000,000 shares of Common Stock of the Company. Two Brothers Services is located in Carlsbad, New Mexico, which is located in the prime oil and gas fields of the Permian Basin, and provides specialized oil field services, which include Hot Oilers and Super Vac Trucks. Two Brothers Services has approximately $3M USD in hard assets and equipment and produced top line revenue of $1,600,000 USD in fiscal year 2021. It is expected that Two Brothers Services is on pace to beat fiscal year 2021 top line revenue by closing out the 2022 fiscal year at $3,000,000 USD.
William Bouyea (CEO of the Company), states…" We are happy to acquire Two Brothers Services in Carlsbad, New Mexico. They are a fast-growing oil field service business in one of the hottest oil and gas production areas domestically, the Permian Basin. They fit perfectly in the portfolio of business operations we now own in the hot oil and gas market of the Permian Basin. Having Two Brothers Services as one of our operational subsidiaries and bringing Oscar Maldonado (Owner) as part of our team is without a question a very large event for the Company."