SNOHOMISH, WA , Sept. 20, 2021 (GLOBE NEWSWIRE) -- Nilam Resources, Inc, (OTC PINK: NILA) $NILA gives Update on Corporate and Operational Activities and Announces Three Acquisitions.
“The Company and team have been working very diligently over the last several months to get all the filings, disclosures and corporate information updated and filed on OTC Markets as well as complete Three Major Acquisitions. We are pleased with the progress and have achieved Pink Current status and significant revenues compared to the previous fiscal quarter.” stated Kim Halvorson, CEO of Nilam Resources.
The company has been working hard with our financial team to get all the financials, disclosures, and corporate information updated and posted to OTC Markets, OTCIQ. We have satisfied all the requirements to achieve Pink Current status. The Company has also posted an Attorney Option Letter with respect to our posted disclosure statements and financials. We have achieved our goal of OTC: Pink Current Status and will keep shareholders apprised of any further progress moving forward.
We are confident in the new direction for the company by moving into the functional mushroom space by acquiring Three (3) e-commerce and drop-ship companies.
This Quarter’s Highlights Including our Three New Acquisitions:
Shares issued and outstanding are 236,062,345. This Quarter’s Revenues have increased to $1,860,936 compared to July 2020 of the same Quarter last year which was zero. Net earnings for this quarter were $293,167 as compared to the same quarter last which was zero. Gross margin was an impressive $1,033,305 for the quarter. The acquisitions were acquired through share exchange agreements and/or assumption of liabilities.
“Transitioning to a full online revenue model allows NILA and its newly acquired companies to sustain growth throughout the pandemic. Many people are switching to online purchases to avoid contact, which allows the company to use extensive SEO to reach those looking for and researching the benefits of functional mushrooms from the convenience of their home.” Stated Kim Halvorson, CEO Nilam Resources, Inc.
“The Company has not had this kind of excitement in many years, and we are very focused on business objectives and goals” commented Kim Halvorson, CEO.
The Company’s business strategy is simple; growth through consolidation, acquisitions and streamlining efficiencies. The functional mushroom space is an emerging growth sector within the health and wellness online e-commerce marketplace, the Company believes that to be a leader in this new space, we must focus on revenues and growth through acquisitions.
Finally, the company would like to announce the launch of its newly branded website www.nilahub.com This new web portal will be used as a one-stop shop for the company’s functional mushroom brands and also serve as a place for investors to gather additional information on the Company and its operations.
ABOUT NILAM RESOURCES, INC.
Nilam Resources Inc. is in the business of developing and investing in and managing early-stage companies. The Company is expanding into a new direction by providing online directly shipped "Farm to Consumer" Functional Medicinal Mushrooms and CBD Oils. The Company is focused on targeting key synergistic acquisitions that bring a broad spectrum of health and wellness options to our customers. The company's new direction will allow it to bring together complementary businesses that can deliver a vertically integrated solutions to this exciting market. We are targeting the Phyto functional and forward medicinal markets to create synergies. Since the legalization of Cannabis, there has been increasing research to back up the observed benefits of CBD and Functional Mushrooms, which has in turn, increased awareness of the various health benefits. The company plans to capitalize on this market sector through acquisitions.
SAFE HARBOR STATEMENT
This press release contains forward-looking statements that can be identified by terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the company's control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
Signed.
/S/ Ms. K Halvorson
For more information, press only:
PR CONTACT:
Kim Halvorson
info@nilahub.com
www.nilahub.com
