New York, NY, Nov. 07, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- GoIP Global Inc. (OTCPINK: GOIG) announced today that the company has entered into a merger agreement with CUBEIT Holding Inc. (“CUBEIT”).
CUBEIT, Inc. is a Nevada based company which is led by seasoned management focused and involved in the Cannabis industry. CUBEIT was formed by industry pioneers and veterans to create an unmatched solution that combats the large start-up cost, long construction periods, and space issues for growers wanting to enter the market, or for experienced growers who want to augment, streamline and automate their current operations.
The CUBEIT solution is a specific and custom-designed modular grow unit that is cost effective, code compliant and fully scalable. The units are fully-contained clean room structures equipped with state-of-the-art lighting, air handling, humidity control, carbon dioxide management, irrigation and fertigation. These units are built to the highest standards to create an environment for sustainable and precise uniform grow conditions to achieve consistent plant development throughout the Cube, and to maintain a streamline workflow to reduce waste and maximize value from every crop.
CUBEIT management and employees have a collective 50 years of expertise in the Cannabis industry. In addition to creating the industry standard Modular Grow Cube, they also provide consulting and management services to the industry in the areas of cultivation, processing, licensing, compliance, operations and more.
Certain terms of the transaction require at closing, GOIP to be debt free, current with its filings, and audited by December 31st of this year with a cash balance. Current management of CUBEIT will assume full operational control and all senior executive positions at the time of closing.
Mr. Ike Sutton, CEO of GOIP, stated, “I’m very pleased to enter into this transaction with such a quality group, in such an exciting industry. This will afford our shareholder base an incredible opportunity to grow with CUBEIT Inc. It is a best of breed scenario, and with orders already in hand it shall produce significant revenue and value for shareholders. I look forward to the future with great optimism.”
Mr. Brian Moore, COO of CUBEIT, stated, “We’re excited to enter the public markets and appreciate the robust established shareholder base that GOIP provides. The public markets will provide the company additional opportunities and options to accelerate growth, all while creating value for our shareholders and our company. I look forward to providing updates to everyone in the near term.”
ABOUT CUBEIT
CUBEIT Holdings Inc., located in Las Vegas, Nevada, is a manufacturing and management services company. Focused on the emerging Cannabis Industry, CUBEIT Manufacturing produces the industry standard CubeIT Grow modular. It is a cost-effective, code-compliant, fully-scalable turnkey solution for launching or expanding a growers operations during all phases of the cultivation process.
CubeIT Services LLC provide consulting and management services to the industry in the areas of cultivation, processing, licensing, compliance, operations and more. www.cubeitcorp.com
ABOUT GOIP Global
GoIP is exploring and developing strategic opportunities in the areas of energy and smart technologies within the energy sector, as well opportunities in emerging industries.
Safe Harbor Statement Information in this news release may contain statements about future expectations, plans, prospects or performance of GoIP Global, Inc. that constitute forward-looking statements for purposes of the safe harbor Provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be," "expects," "may affect," "believed," "estimate," "project," and similar words and phrases are intended to identify such forward-looking statements. GoIP Global, Inc. cautions you that any forward-looking information provided by or on behalf of GoIP Global, Inc. is not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind. GoIP Global, Inc.'s actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond GoIP Global, Inc.'s control. In addition to those discussed in GoIP Global, Inc.'s press releases, public filings, and statements by GoIP Global, Inc.'s management, including, but not limited to, GoIP Global, Inc.'s estimate of the sufficiency of its existing capital resources, GoIP Global, Inc.'s ability to raise additional capital to fund future operations, GoIP Global, Inc.'s ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities and, in identifying contracts which match GoIP Global, Inc.'s capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. GoIP Global, Inc. does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.