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Friday, 08/12/2022 9:23:52 AM

Friday, August 12, 2022 9:23:52 AM

Post# of 3251
NextMart, Inc. - Acquisition of Black Widow Permian Energy, LLC

CARLSBAD, N.M., Aug. 12, 2022 /PRNewswire/ -- NextMart, Inc. (the "Company" or "NXMR" - Pink Sheets Alternative Reporting Pink: NXMR) – NXMR would like to announce it completed the acquisition of Black Widow Permian Energy, Limited Liability Company, that provides oil field services in the Permian Basin ("Black Widow").

The Company acquired 100% of the ownership equity of Black Widow pursuant to a share exchange agreement dated August 11, 2022, for 10,000,000 shares of Common Stock of the Company (Restricted). Black Widow is in Carlsbad, New Mexico, which is in the prime oil and gas fields of the Permian Basin, and provides oil field services, which includes a specialized hot oiler, an end dump truck, and three Super Vac Trucks. Black Widow has approximately $1.5 USD in top line revenue since its inception in 2020. It is expected that Black Widow is on pace to record top line revenue of $1.5M USD in fiscal year 2020.

Mr. Maldonado (CEO of the Company), states…" We are happy to acquire Black Widow in Carlsbad, New Mexico. Michael Rogers has over twenty years' experience in the oil field service industry in the Permian Basin and was previously part of one of our subsidiaries, Emco Oil Field Services, LLC. We plan on immediately expanding Black Widows service footprint with internal financing of additional equipment and also allow it to utilize various assets of the Company to increase its top line revenue ongoing. The acquisition of Black Widow fits our current business model to grow our oil field service business in the Permian Basin, one of the hottest areas domestically for oil and gas production."

The Company has now acquired three oil field services operations located in the Permian Basin with the current acquisition of Black Widow. The next planned step to amplify our footprint in the Permian Basis oil field service industry will be to form a leasing program for oil field service equipment for the benefit of our wholly owned subsidiaries. The Company plans on completing this action during the month of September 2022 and will be announcing the full details of this proposed leasing company at that time.

https://www.prnewswire.com/news-releases/nextmart-inc--acquisition-of-black-widow-permian-energy-llc-301604848.html

NXMR $$$