CarSmartt Inc (CRSM)

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Smartt, Inc. FKA Carsmartt, Inc. Acquires $47.6 Million Revenue Generating Asset Immobilfin S.P.A.
Press Release | 08/06/2021
Miami, FL, Aug. 06, 2021 (GLOBE NEWSWIRE) -- Smartt Inc., (OTC Pink: CRSM), is pleased to announce the acquisition of Immobilfin S.P.A., a Real Estate company with an asset value of $47.6 Million and generates approximately $1.5 Million per year in revenues. Mr. Roy Capasso, CEO of Smartt, Inc., commented “Smartt, Inc. has signed an agreement for the acquisition of 100% of the shares of Immobilfin S.P.A., Inc. The company owns a commercial building in the center of Naples Italy in front of the Naples’s Harbour. The building is leased to the Italian government, who pays approximately $1.5 million a year. The property is approximately 100,000 square feet with 95 parking spaces. The transaction has closed on August 6, 2021.

The First deposit for the acquisition will be 50,000,000 restricted shares for two years that is equivalent to a value of approximately $1.5 Million. The balance due will be a determinate of the performance of share price during the next two years from future forecasted growth. Smartt, Inc. will have the option to pay in cash before the 2-year restriction has matured.

Mr. Capasso, CEO of Smartt, Inc. added “this is just the beginning for Smartt, Inc. to grow exponentially in the real estate market. We are planning to invest and dedicate more time and resources in closing on new real estate deals in Europe, LATAM and the United States. We are also working on several deals in the Technology Industry, the Fintech and Crypto sectors to be exact. " As we are now establishing a global presence, we believe this is the perfect time and opportunity to introduce our growing international network of investment professionals and investors to our exciting emerging company to the world. We look forward to continuing to grow in all sectors, with the goal of delivering value to our long-term investors.”