Powder Springs, GA, May 11, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- CBMJ Inc., Conservative Broadcast Media & Journalism (CBMJ), today announced the signing of a Letter of Intent to acquire 100% of the assets of USA Depot, Inc. and its wholly owned subsidiary Patriot Depot.
The acquisition, targeted to close between 5-31-21 and 6-15-21, will enable the company to double the size of its annual revenue to approximately $7M.
Patriot Depot is an online retailer that distributes and sells Conservative and Christian themed supplies, apparel, pins, flags, patriotic gifts, glasses, novelties, books, DVDs and more.
The consideration paid to USA Depot Inc. is the issuance of 40M shares of Restricted Common stock in an all-stock deal.
At closing Floyd Brown, Chairman of USA Depot, Inc. will join CEO Mark Schaftlein and President Brandon Vallorani on the Board of Directors of CBMJ.
"We are thrilled by the opportunity to combine the resources of the two businesses and deliver additional revenue and earnings potential for our shareholders. Having a long time Conservative Media Industry leader like Floyd Brown join our Board with the wealth of experience and contacts will only open up additional deal opportunities," stated CEO Mark Schaftlein.
"This is very exciting. Since the Patriot Depot fulfillment center is in close proximity to our office, we'll be able combine and consolidate our distribution business and utilize the combined digital advertising strengths of the two companies," stated President Brandon Vallorani.
Floyd Brown, USA Depot Chairman, affirmed, "I have the utmost confidence in CBMJ and Brandon Vallorani's operating team to significantly grow the combined operating company and deliver outsized shareholder returns as we grow the revenues and earnings. In a fractured Conservative Media environment, I'll be focusing on additional businesses and assets to bring aboard our company."
Conservative Broadcast Media & Journalism e-commerce sites Store.FlagandCross.com , www.thrashercoffee.com, MilitaryGradeCoffee.com, and www.valloranicigars.com continues to drive product sales while additional news websites, FlagAndCross.com, and http://constitution.com/ are poised to contribute additional ad revenue in 2021.
The Company also confirmed that it has plans this year to increase the distribution of its CEO’s television show, “The Schaftlein Report” www.schaftleinreport.com, which focuses on political and economic issues of the day and provides a roster of 30 guest commentators a forum to express their views.
About CBMJ: (CBMJ) Conservative Broadcast Media and Journalism is a Digital Marketing Company based in Metro-Atlanta that specializes in reaching a conservative/libertarian/religious audience. Among other assets, CBMJ operates numerous social media accounts across several platforms with over 2 million followers, owns an active database of over 12 million opt-in email subscribers, and publishes a network of 47 monetized political/news websites generating 10 million page views per month. Some of the marquis sites include www.flagandcross.com , and www.militarygradecoffee.com. The Company also maintains one of the largest collections of historical documents on the web at www.constitution.com.
In addition, CBMJ operates a brick-and-mortar coffee shop in Hiram, GA, and e-commerce websites including www.thrashercoffee.com/ , www.valloranicigars.com , and an e-commerce portal at their primary site www.store.flagandcross.com/ . CBMJ now also owns the increasingly popular TV, radio, and social media segment "The Schaftlein Report" hosted by economic analyst and political commentator Mark Schaftlein. https://schaftleinreport.com/
Forward-Looking Statements: This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain, based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters disclosed at www.otcmarkets.com . These risks and uncertainties could cause the company's actual results to differ materially.
Mark Schaftlein
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