CARLSBAD, Calif., April 16, 2015, /PRNewswire/ -- A1 Group, Inc. (OTCQB: AWON) today announced that it has entered into a non-binding letter-of-intent to acquire A1A Sod Sand & Soil, Inc., a commercial landscape and agriculture business, catering to the Florida Market to include Commercial Accounts with City, County, State, Famous Landmarks and National Agriculture Companies.
Under the terms of the LOI, A1 Group, Inc. through a "Definitive Asset Purchase Agreement " will purchase all outstanding shares and assets tangible and intangible of A1A Sod Sand & Soil, Inc. that are used in, or necessary for the administration and operation of the business.
Bruce Storrs, CEO of A1 Group, Inc., said: "A1A Sod Sand & Soil, Inc. has been a growing concern over the last 10 years, with its leases of 405 acres for growing and harvesting their own materials along with Commercial Accounts with City, County, State, Famous Landmarks and National Agriculture Companies. We feel the acquisition of A1A Sod Sand and Soil, will fit nicely with our plans for expansion in the rapidly growing Medicinal Cannabis Market and position us for additional Leases, Acquisitions and Joint Ventures for our Vapor business."
The terms of the "Definitive Asset Purchase Agreement" and consummation of the contemplated transaction are subject to legal and confirmatory due diligence, board approval and the execution of definitive agreements satisfactory to both parties.
About A1A Sod Sand & Soil, Inc.
Based in Miami, Florida, A1A Sod Sand & Soil, Inc. established in 2004 is located on busy Dixie Hwy ( US1) The primary business is located on 2.25 Acres of frontage road. It currently has multiple commercial accounts, to include City, State, County and Famous Landmarks. The Company has Annual revenues of $4.9 Million.
Forward Looking Statement Disclaimer:
This press release contains forward-looking statements. Words such as "expects", "intends", "believes", and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, the ability to secure additional sources of finance, the ability to reduce operating expenses, and other factors described in the Company's filings with the Securities and Exchange Commission and the OTC Markets Group. The actual results that the Company achieves may differ materially from any forward-looking statement due to such risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
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SOURCE A1 Group, Inc.