iTeknik Holding Corporation Signs Agreement to Sell Controlling Interest in iTeknik to Axiologix, Inc.
COMMERCE, Mich., April 17, 2014 /PRNewswire/ -- iTeknik Holding Corporation (Other OTC: ITKH), today announced that The Company, along with its Board of Directors and Officers, have signed a Stock Purchase Agreement to sell a majority of its outstanding stock to Axiologix, Inc. of Atlanta, Georgia.. This transaction is expected to close not later than June 7, 2014. Upon closing of this transaction, Vincent Browne, CEO and President of Axiologix will become Chairman, CEO and Corporate Secretary of iTeknik Holding Corporation. Jeffrey Lauzon will remain with iTeknik Holding Corporation as General Manager of Send Global Corporation.
Axiologix Inc. is an International Technology and Services Organization focused on delivering Cloud-based Products and Services globally. Axiologix is a provider of Voice, Data and Cloud services to US small and medium size businesses and other operators globally. Axiologix recently acquired iWorld Services, a market leader in delivering retail and wholesale VoIP services, products, advanced web applications and software tools targeting high growth emerging markets. For more information on Axiologix visit http://www.otcmarkets.com/stock/AXLX/company-info.
Fredrick W. Wicks, Chairman and CEO of iTeknik Holding Corporation, stated, "We are very pleased to have found an organization that can help iTeknik and Send Global grow. Axiologix has a very strong global strategy that has the potential of creating a large technology and services enterprise."
iTeknik Holding Corporation (OTC Pink:ITKH) is classified as "Current Information" and trades on the OTC Pink tier of the OTC Market. For quotes and market information on the company, visit http://www.otcmarkets.com/stock/ITKH/company-info.
About iTeknik Holding Corporation
iTeknik Holding Corporation was formed to develop and launch new technology and products in the global communications market. Through its Send Global subsidiary, iTeknik provides wholesale and retail telecommunications services, and products worldwide. Its services include voice over Internet protocol origination and termination; A-Z routing and switching; wholesale carrier routing services; reseller billing and reporting; Web-based reseller solutions; prepaid calling card solutions; international cellular calling; and retail point of sale solutions. The company serves B2B carriers, telecom resellers, retail outlets and consumers direct through websites such as www.MyMobile011.com, www.GreatMinutes.com, www.AloBilady.com, www.IndiaMinutes.com and www.MexicoMinutes.com. iTeknik Holding Corporation was founded in 2007 and is based in Commerce, Michigan. Through its subsidiaries, iTeknik has more than 16 years of history in the telecommunications industry. For more information please visit website www.iteknik.com and www.sendglobal.com.
Safe Harbor: This document contains certain 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, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainty, including without limitation, the ability of the Company to successfully implement its turnaround strategy, changes in costs of raw materials, labor, and employee benefits, as well as general market conditions, competition and pricing. Although the Company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this letter will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as representation by the Company or any other person that the objectives and plans of the Company will be achieved. In assessing forward-looking statements included herein, readers are urged to carefully read those statements. When used in the Annual Report on Form 10-K, the words "estimate," "anticipate," "expect," "believe," and similar expressions are intended to be forward-looking statements.
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