Innovest Global Inc. Working on Closing Major $30,000,000 Building Materials Acquisition, Delta Sky Magazine's October Biotech Featured Article Being Published
Innovest Global has established revenue from commercial and industrial clients, several months of record sales, contracts with Fortune 500 clients, a Biotech division, and a pending acquisition which is generating $30 million in sales.
Cleveland, OH -- (ReleaseWire) -- 09/27/2018 --Innovest Global, Inc. (OTCMarkets:IVST) is in the Conglomerates industry, a diversified holding company with operations in commercial and industrial products and services, energy, biotechnology, and health services. Our primary growth strategy is to acquire existing companies in a select few industries, and attract new customers in cost effective ways. Currently, we have a Commercial & Industrial Division, and a Biotechnology & Health Services Division. Innovest Global Inc is Working On Closing A Major Building Materials Acquisition, Weekly Technicals Look Bullish.
The Cleveland, Ohio-based conglomerate continues to rapidly expand thanks to key acquisitions and thriving organic sales growth. Innovest Global, Inc. currently is experiencing a combination of strong fundamentals and technicals. The company's Commercial & Industrial Division has been a revenue machine for Innovest, as the division now is on track for annual revenue run-rate of $4.5 million.
The company's Biotech & Health Sciences Division is not currently generating revenue, but the division has a very bright future ahead. Lead by world-renowned neuroscientist, Dr. Dwain Morris-Irvin, the Biotech & Health Sciences Division is currently focused on commercializing StemVax Therapeutics' cancer vaccination therapy technology. The cancer vaccination therapy technology was just recently awarded a U.S. patent.
Innovest Global management team has been extremely busy with its pending mega-acquisition of a building materials company, which produces $30 million in annual revenues. Once the building materials company is acquired, it will serve as Innovest Global's third division. Management estimates that the building materials target acquisition could close sometime in early September 2018.
Management has detailed the serious of events that has took place earlier this year between Innovest and the target building materials company. The initial discussions began back in March 2018, followed by formal negotiations in April 2018.
In June, Innovest management formally proposed the acquisition pitch to the target company's board of directors. Upon conclusion of the presentation, both parties had signed and executed a Letter of Intent (LOI) document.
In late August 2018, it was announced that both parties have effectively reached an agreement on the acquisition transaction structure and long form documents. Under the agreed terms, Innovest will acquire 100% ownership of the target entity and will issue 5 million common shares (restricted) and a high-five figure cash payment in exchange.
"This transaction represents a substantial, over five-times increase in Innovest's revenue, and marks entry into its third industry sector. This is a transformational acquisition for Innovest. Because of the revenue, but also because the leadership of the organization is world class, well respected in their industry, and has a vision and plan for growth that I believe is highly likely to succeed in our model once we hit the switch," detailed Innovest Global CEO Dan Martin.
In other news, the biotech division, led by Dr. Dwain Morris-Irvin, will be attending the 48thAnnual Society for Neuroscience Conference and the BIO Investor Forum. The Society for Neuroscience will take place between November 3-7 in San Diego, California. The BIO Investor Forum will be held in San Francisco, California between October 17-18.
Innovest Global will be featured in Delta Sky Magazine's October Biotech Special Edition issue. The Delta Sky Magazine is the official in-flight magazine for Delta Air Lines, Inc. and has readership of around six million highly-engaged passengers.
Investors and traders looking to filter out the noise and the short-term should utilize weekly and monthly charts. These tend to provide a clearer picture of the current state of the stock and where it could be possibly heading in the coming weeks or months.
About Innovest Global, Inc.
Innovest Global, Inc. (OTC Markets: IVST) is in the Conglomerates industry, a diversified holding company with operations in commercial and industrial products and services, energy, biotechnology, and health services. Our primary growth strategy is to acquire existing companies in a select few industries, and attract new customers in cost effective ways. Currently, we have a Commercial & Industrial Division, and a Biotechnology & Health Services Division.
For more information, please visit: http://www.innovestglobal.com, and follow us on Twitter and Facebook @innovestglobal.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical facts included in this press release are forward-looking statements. These statements relate to future events or to the Company's future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. Such risks, uncertainties and other factors, which could impact the Company and the forward-looking statements contained herein are included in the Company's filings with the OTC Markets. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
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