New Generation Consumer Group Inc (NGCG)

[AveragePenny]

New Generation Consumer Group Executes LOI to Acquire Revenue-Generating Operating Business with Approximately $20 Million in Annual Revenue

https://www.globenewswire.com/news-release/2026/04/30/3284774/0/en/new-generation-consumer-group-executes-loi-to-acquire-revenue-generating-operating-business-with-approximately-20-million-in-annual-revenue.html

Proposed Acquisition Positions NGCG for Immediate Transition to Revenue-Generating Operating Platform

SCOTTSDALE, Ariz., April 30, 2026 (GLOBE NEWSWIRE) -- New Generation Consumer Group, Inc. (OTC: NGCG) (“NGCG” or the “Company”) today announced the execution of a non-binding Letter of Intent (“LOI”) to acquire an established operating business that generated approximately $19 million in revenue in fiscal year 2025 and is projected to generate approximately $20 million in revenue for fiscal year 2026.

This proposed acquisition represents a significant milestone in NGCG’s strategic evolution, positioning the Company to transition from a development-stage entity into a revenue-generating operating platform with immediate scale.

NGCG has historically operated as a development-stage company focused on identifying and structuring strategic growth initiatives. As part of its corporate evolution, the Company has been actively pursuing opportunities to integrate scalable, revenue-generating operating assets with established customer bases and recurring revenue characteristics.

The target business operates within the broader parking sector, providing customers with access to a nationwide network of vetted parking facilities. Industry trends continue to support expansion in this space, including the increasing adoption of online booking platforms and the ongoing demand for convenient, accessible parking solutions across high-traffic locations.

NGCG has initiated formal confirmatory due diligence, including a review of the target company’s audited financial statements and operating performance. Subject to satisfactory completion of due diligence, verification of financial results, and customary closing conditions, the Company anticipates progressing toward definitive agreements with a potential closing timeline of approximately 90 days.

If consummated, the proposed transaction is expected to:

Accelerate NGCG’s transition into a revenue-generating operating company
Provide immediate scale through an established operating platform
Enhance long-term growth potential through recurring revenue characteristics
Create a foundation for future strategic acquisitions

“The execution of this LOI reflects our disciplined strategy to identify and acquire established operating businesses that deliver immediate scale and operational credibility,” said Jacob DiMartino, President of NGCG. “This opportunity aligns with our long-term vision of building a scalable, revenue-driven platform, and we believe it represents a meaningful step forward in our corporate evolution.”