Small Business Development Group (OTC:SBDG) Completes Share Exchange to Acquire 29% of Smartag International (OTC:SMRN)
WINDERMERE, FL, Sept. 08, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Small Business Development Group, Inc. (OTC:SBDG) (the "Company" or “SBDG”) has completed a tax-free share exchange to acquire 29% of Smartag International, Inc. (OTC:SMRN). In acquiring over 28 million shares of SMRN, SBDG together with the existing management team of SMRN have a control position in the Company. SBDG will work to reorganize and rehabilitate SMRN the public company, including updating the reporting requirements with OTC Markets. The SBDG and SMRN management teams will work collectively to facilitate business combinations that will build and grow the operations of SMRN.
“We are very excited about working together with the SBDG Team,” said Lock Sen Yow, President of SMRN, “For the past ten years I have been seeking the right working partners in the United States that we can trust. Now that we have the alliance with SBDG, we can build real business between Southeast Asia and the USA.”
Besides already having existing core technology in Fintech and e-Commerce, SMRN will actively seek growth via acquisition, and is targeting companies in Southeast Asia that are seeking to establish business operations in the United States. Targets for acquisition will have enterprise values between $2MM to $20MM USD, and follow on acquisitions of synergistic companies will be sought in the United States to further accelerate growth. Adding SMRN to its portfolio is the first of many planned transactions where SBDG will look to acquire control positions in publicly traded companies in need of rehabilitation and reorganization.
Smartag International, Inc., is a holding company specializing in companies with global operations between Southeast Asia and the United States. It seeks to acquire companies in Southeast Asia looking to expand operations in the United States. Additionally, the company has existing technology operations in the areas of mobile Fintech, e-Commerce, e-logistics, mobile remittances and e-wallet systems. For more information, go to www.smrntl.com
Small Business Development Group, Inc. is a holding company specializing in acquisitions, buyouts, industry consolidation, recapitalization, and middle market investments. The firm prefers to invest in companies based in North America. It seeks to invest in businesses with an enterprise value between $2 million and $20 million with positive cash flows between $500 thousand and $5 million. It seeks to acquire controlling ownership interests in its portfolio companies and can make additional platform acquisitions. The firm will make either majority or minority investments in companies that meet its investment criteria. The firm will typically hold investments between five to seven years. The company is based in Windermere, Florida with additional offices in California, Illinois, New Jersey, North Carolina and Maine. For more
information, go to www.SBDGHoldings.com
Note to Investors
This press release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business.
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