TORONTO, ON, Feb. 03, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – DLT Resolution Inc. (OTC: DLTI), an information technology, cybersecurity, and telecommunications company, is pleased to announce the signing of a binding agreement to acquire Union Strategies Inc. of Ontario Canada.
The acquisition is expected to close in the coming weeks and will immediately add approximately $3,000,000 CDN in revenues to DLT Resolution.
The all stock purchase will see DLT Resolution issuing a 1,500,000 shares of its common stock on closing and another 1,000,000 upon Union Strategies hitting approximately 10% growth in the coming year with positive EBITDA of no less than $75,000.00. The shares will be issued under an exemption from registration and will contain substantial resale restrictions. The transaction will cause Union Strategies to become a wholly owned subsidiary of DLT Resolution.
Commenting on the transaction, John S. Wilkes, President of DLT Resolution, stated: “I am impressed by the leadership of Union Strategies and we feel that we should see tremendous synergies between the two companies.” Commenting further, “With Union Strategies clients representing more than 450,000 members in Canada alone, the complementary services and cross selling potential could be substantial for both companies.”
Union Strategies President and CEO Fred Vecchio commented: “I am excited about the huge opportunity we have with DLT and look forward to collaborating with John and his team. We as a team bring together two highly complementary businesses, allowing each to continue building on its existing business while enabling the combined company to better serve its global customer base. We operate in a dynamic industry, in which greater scale, global reach and stronger balance sheets will enhance our ability to meet the evolving requirements of our customers and create a significant opportunity to generate long term value for all of our stakeholders.”
Management will announce updates on closing through press releases and its SEC filings.
About Union Strategies “USI”
USI has been providing a suite of products and services to Unions for over 10 years. The Company’s suite includes Web Design, Event Management, Graphic Services, Professional writing, Telecommunications, Social Media Management and Promotional offerings. USI is a one-stop-shop for all things union. The company has more than 130 clients that are considered to be “mid-market” in terms of overall size of the particular local with 450,000 members. USI operates nationally in Canada and looks to expand into the USA in 2020.
About DLT Resolution Inc.
DLT Resolution Inc. currently operates in three high-tech industry segments: Blockchain Applications & cybersecurity; Telecommunications; and Data Services which includes Image Capture, Data Collection, Data Phone Center Services, and Payment Processing. Its clients represent some of the top businesses from a variety of sectors. DLT Resolution helps organizations that have invoices, ledgers, statements, applications, surveys, employee and customer rewards programs and a wide range of other non-core functions benefit from data management. DLT Resolution also operates a Health Information Exchange providing the ability to request and retrieve medical information & records while meeting all of today's Security & Compliance demands for HIPAA, PIPEDA, and PHIPA. Through RecordsBank.org, the Company offers an easy to use online gateway to its centralized system for patients, lawyers and insurers to retrieve and access medical records.
Learn more at: www.dltresolution.com
Disclaimer: 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 Act of 1934. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this press release. Additional information respecting the factors that could materially affect the Company and its operations are contained in its annual report on Form 10K and Form 10-Q as filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements.