Indo Global Exchange(s) Pte Ltd Provides Shareholder Update
Monday, November 11, 2019 10:00 AM
CLOVERDALE, CA / ACCESSWIRE / November 11, 2019 / Indo Global Exchange(s) Pte Ltd (OTC PINK:IGEX) is pleased to update shareholders on the company's progress going forward.
On September 4, 2019, by a vote of the majority shareholders, the Hulogix merger was unwound and Jason Black was reinstated as President and CEO.
On October 17, 2019 the company entered into a Letter of Intent to acquire a new subsidiary operating in the supplements and functional foods industry. The target company generated gross revenue in excess of $3.2 million for 2018.
The target acquisition is subject to a series of confidential terms and conditions until such time that the acquisition moves from a Letter of Intent to a Definitive Agreement.
Stated CEO, Jason Black: "I appreciate the shareholder interest in our progress. This is a considerable acquisition that simply can't happen over night but we're moving as fast as possible. At the same time, we're not going to sabotage the merger just to pacify a few day traders and their demands to release information prematurely. This has much bigger potential than that. Also, any new stock issuances, like all new issuances, would be restricted and only issued as collateral until the merger is finalized. Not for dilutive purposes. The float remains unchanged since November of 2018."
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