NEW YORK, March 20, 2018 (GLOBE NEWSWIRE) -- SoOum Corp. (OTCPINK:SOUM) (“SoOum” or the “Company”), a Physical Commodities Arbitrage Trading company offering a web-based International Trade platform, SoOum.com, announced it has entered into a definitive agreement to acquire privately owned TRADEBOSS.COM, a worldwide b2b marketplace. The transaction is expected to close in the 2nd quarter of 2018.
The acquisition of TradeBoss will add 655,000 users to SoOum.com, including 107,000 products, and more than 164,000 trade leads. SoOum.com will provide a transaction close option and a centralized interface to track and conduct trade safe - effectively in a simplified format for current TradeBoss members. On average, TradeBoss.com boasts 900-1000 users browsing the b2b marketplace at any time. According to TradeBoss, members can advertise their company and products, find new products, and meet new business partners across the globe.
SoOum.com is an International “Trade Platform” with a simple mission; to “Minimize Global” scarcity, by addressing commodity shortages and simplifying international trade. The Company is currently focused on adding users to the SoOum.com “Trade Platform,” and will continue to search for other acquisition possibilities intended to create value for SoOum shareholders and to help push SoOum Corp to the forefront of International Trade.
About SoOum Corp
SoOum Corp is a publicly held (OTCPINK:SOUM) Physical Commodities International Trading firm. Specializing in arbitrage based transactions of Physical Commodities, as well as offering a web based International Trading Platform - www.sooum.com.
For more information regarding this press release please contact SoOum Corp Investor relations - investors@sooum.com
Cautionary Note Regarding Forward-Looking Statements in this press release regarding the Company’s business which are not historical facts are “ forward-looking statements” that involve some risks and uncertainties. The Company cautions that various factors, including the factors described under the caption forward-looking statements in the Company’s annual report on Form 10-K, could cause actual results to differ materially from the statements contained herein. These factors include the following: business conditions and volatility in the commodities market, and the general economy; competitive factors including compressed gross profit margins; shifts in market demand; product availability; reliance on key customers; fluctuations in foreign currency exchange rates; income tax legislation; and the risk factors listed from time to time in the Company’s reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statement
Contact:
Steve Messina
646-801-3772
investors@sooum.com