WINDSOR, BERKSHIRE, United Kingdom, Nov. 10, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- Argentum 47, Inc. ("Argentum" or the "Company") (www.argq.io) (OTC PINK: ARGQ), a provider of comprehensive artificial intelligence enhanced digital marketing services including branding, advertising, and lead generation, today announced the sale of two of its subsidiaries.
Robert Stephenson, CEO of Argentum, and his team would like to announce the execution of Sale and Purchase agreements for two of its subsidiaries, Argentum 47 Financial Management Limited and Cheshire Trafford UK Limited, which were executed on October 21, 2022. Under the terms of the agreements, Argentum sold all of the common shares of these two subsidiaries. The sale has allowed the Company to reduce $248K of debt.
“This sale of two subsidiaries that are no longer aligned with our business model was significant for Argentum because of the positive impact it has on our balance sheet in reducing our debt,” stated Robert Stephenson. The two subsidiaries sold were no longer compatible with Argentum's business model and, by selling them, Argentum will have more liquidity and reduced interest expenses. With a stronger balance sheet, this move is indicative of management's commitment to achieving its long-term goals of becoming a market leader in Technology, Web-Based Services, and Marketing Solutions.
As part of the Company's strategy to eliminate liabilities, relinquish old business strategies, and streamline its operations for long-term success, Stephenson and his team believe this move was necessary in order to better focus its resources on its core businesses and continue to grow its market share, making it much better prepared to undertake new projects and endeavors. This debt reduction will provide Argentum with greater financial freedom and flexibility to invest in acquisitions, mergers, and joint venture opportunities.
About Argentum 47, Inc.
Argentum 47 Inc., (OTC PINK: ARGQ), is a diversified holding company located in Nevada, United States with market positions in the United Kingdom, United States, and Europe. The Company is engaged in three primary business industries: Technology, Web Based Services, and Marketing Solutions. Its technology offering includes its proprietary AI (artificial intelligence) solutions and automation. Its web-based services include data management, storage and blockchain. Its Marketing solutions include advanced B2B and B2C lead generation marketing solutions. The Company's principal activity is utilizing disruptive marketing solutions with proprietary AI and automation technologies to support customers in their marketing journey.
Safe Harbor Statement
This press release may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to anticipated revenues, expenses, earnings, operating cash flows, the outlook for markets and the demand for products. Forward-looking statements are no guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statements. Such statements are based upon, among other things, assumptions made by, and information currently available to, management, including management’s own knowledge and assessment of the Company’s industry and competition. The Company refers interested persons to its most recent Annual Disclosure and other disclosure documents uploaded to OTC Markets for a description of additional uncertainties and factors, which may affect forward-looking statements. The Company assumes no duty to update its forward-looking statements.
IR Contact Details:
PCG Advisory
150 East 58th Street 16th Floor
New York, NY 10155 U.S.
Telephone U.S: (646) 863-6341
Email: info@pcgadvisory.com
Company Contact Details:
Mr. Daniel Triana (CMO)
27 Sheet Street, Windsor, Berkshire,
SL4 1BN United Kingdom
Telephone U.S.: (833) 568-8228 Telephone U.K.: +(44) 121 615 4720
Website: www.argq.io
Email: ir@argq.io
