WESTLAKE VILLAGE, Calif., Aug. 11, 2021 (GLOBE NEWSWIRE) -- Alltemp, Inc. (“Alltemp” or “the Company”) (OTCPK: LTMP) announces that the Company has signed a definitive letter of intent to acquire an established digital advertising and marketing business, Digi Messaging & Advertising, Inc. (“Digi”) through a share exchange agreement (the “Share Exchange”), scheduled to be effective no later than August 31, 2021.
The Company will roll out a new consumer-facing digital ad platform-as-a-service based upon the integration of Digi’s multiple standalone digital marketing platforms. The Company’s platform-as-a-service will be available to enterprises of all size, whether for profit or non-profit, which are seeking to harness the power of big data to precisely micro-target customers with up to 500% more efficiency.
As a result of the Share Exchange, Alltemp will acquire 100% of the issued and outstanding shares of Digi in exchange for the issuance of 600,000 shares of Series D Convertible Preferred Stock of Alltemp. Immediately thereafter, Alltemp’s subsidiary, CSES Group, LLC, which owns all right, title, and interest in Alltemp’s refrigerant technology, will be spun out in exchange for the cancellation of approximately 73 million common shares held by former Alltemp management and shareholders. Upon the completion of these actions, on a fully diluted basis, the Digi Shareholders will own approximately 80% of the total shares of Alltemp common stock after giving effect to the conversion of the Series D Convertible Preferred Stock.
“Over the past several months, we have been working to identify the best path to build shareholder value and stability, and it became apparent that the acquisition of Digi, while outside of our current industry, was best suited to deliver on that goal,” stated Alltemp CEO, Ben Hansel.
About Digi Messaging & Advertising, Inc.
Digi Messaging & Advertising, Inc. is a digital marketing and advertising company which currently operates multiple service platforms, including SMS, push notification, short links, email and more. Digi is currently building a consumer facing digital marketing and communications platform-as-a-service to allow enterprises, both large and small, to leverage big data to micro-target customers with disruptive increases in efficiency.
About Alltemp
Alltemp, Inc. has developed a proprietary refrigerant technology called alltemp®, a replacement for many refrigerants that have detrimentally affected the global environment. Alltemp refrigerants have applications in Heating Ventilation and Air Conditioning (HVAC), refrigeration, foam insulation, and industrial solvents. For further information, please go to www.alltempsolutions.com.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995 (the "Act"), as well as Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. In particular, when used in the proceeding discussion, the words "plan," "confident that," "believe," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements are subject to certain risks and uncertainties that are subject to change at any time, and the Company's actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, the availability of components for and delays in the start of production, general acceptance of the Company's products and technologies, competitive factors, the ability to successfully complete additional financing, and other risks.
Ben Hansel
(720) 288-8495
