Las Vegas, Nevada, May 01, 2018 (GLOBE NEWSWIRE) -- South American Gold Corp (OTC: SAGD) announced today that they have identified two cannabis related acquisition targets and have begun negotiations to bring one or both operations into the Company.
Both acquisition targets have existing operations with current revenues and are centered around value-added products within the cannabis sector.
Gary Austin, director of South American Gold Corp. commented on this news, “We are focusing our attention on the revenue side of the business. We have been very busy the past 12 months building and developing a strong portfolio of technology assets. Now we are seeking opportunities to acquire companies with existing revenue that can benefit from the technology resources the Company already holds. We believe that the technologies we have developed and acquired are extremely valuable in the right setting; therefore, with the right acquisitions and the strategic use of our existing technology assets, we are seeking quick growth and sustainable business operations that will provide great longevity in this sector.”
The Company stated that they are currently concluding their due diligence phase and are planning to make an offer on one or both operations this quarter. Mr. Austin continued, “Our goal is to complete a deal on this quarter’s book and give ourselves the rest of the year to grow and develop the business being acquired. We have a good team in place, a great core set of assets, and now we are getting aggressive on putting these tools to work.”
About SAGD: South American Gold Corp (SAGD) is an operational management company focused on enhancing shareholder value by acquiring and operating under valued tech assets.
Disclaimer: This release contains forward-looking statements that are based on beliefs of South American Gold Corp. management and reflect South American Gold Corp.'s current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities and Exchange Act of 1934, as amended. When we use in this release the words "estimate," "project," "looks," "believe," "anticipate," "intend," "expect," "plan," "predict," "may," "should," "will," "can," the negative of these words, or such other variations thereon, or comparable terminology, are all intended to identify forward looking statements. Such statements reflect the current views of South America Gold Corp. with respect to future events based on currently available information and are subject to numerous assumptions, risks and uncertainties, including but not limited to, risks and uncertainties pertaining to development of mining properties, changes in economic conditions and other risks, uncertainties and factors, which may cause the actual results, performance, or achievement expressed or implied by such forward looking statements to differ materially from the forward looking statements. The information contained in this press release is historical in nature, has not been updated, and is current only to the date shown in this press release. This information may no longer be accurate and therefore you should not rely on the information contained in this press release. To the extent permitted by law, South American Gold Corp. and its employees, agents and consultants exclude all liability for any loss or damage arising from the use of, or reliance on, any such information, whether or not caused by any negligent act or omission. This press release may incorporate by reference the Company's reports and other filings. Investors are encouraged to review all filings. There is no assurance South American Gold Corp. will identify projects of merit or if it will have sufficient financing to implement its business plan. There is no assurance that the Company's due diligence on the potential projects and/or acquisitions will be favorable nor that definitive terms can be negotiated. Investors should consult their financial advisor before making an investment in a company.