PHILADELPHIA, April 28, 2017 /PRNewswire/ -- Paradigm Group, Inc. (OTCQB: EMSF) today announced that it had entered into a non-binding Memorandum Of Understanding ("MOU") to acquire a diversified portfolio of operational and revenue generating assets from Wireless Industry Corporation, a holdings group based in Puerto Rico.
This transaction represents the first of many deals being negotiated by Paradigm Group. The Company will acquire this valuable portfolio at a very attractive valuation which will result in creating a competitive advantage and believes that these assets are currently under performing due to under capitalization and can be operated more efficiently.
The assets to be acquired consist of partnership interest in Latin America's Telemedicine Venture, multiple telecommunication software platforms, intellectual property as well as all current and future distribution contracts with major retailers with 100+ SKU's, accounts receivables and product inventories.
Steve Rubakh, Paradigm Group's CEO, commented: "We are pleased to have the opportunity to acquire a diverse portfolio of valuable assets which we believe will generate an attractive and stable revenue stream for our company. This deal illustrates many opportunities available to our shareholders and the company to generate compelling investments. We believe that this transaction will occur at a substantial discount to the market valuation of the underlying assets and that our expected yield relative to our purchase price of the assets would be extremely profitable to our shareholders."
Under the terms of this agreement, Paradigm Group will acquire all assets in all equity transaction involving issuance of Preferred Shares of the Company, thus limiting dilution.
The Transaction, which is subject to 30 days no-shop clause and certain conditions, including satisfactory completion of financial due diligence and obtaining certain legal consents. Both parties agreed to enter into a binding Letter Of Intent ("LOI") agreement by May 28 and to fully complete this asset purchase by the third quarter of 2017.
About Paradigm Group, Inc. (PG) - Diversified holding company that acquires, invests and operates revenue generating companies (subsidiaries), primarily in the healthcare, e-commerce, mobile technologies, transportation and consumer goods markets that have a seasoned management team, solid operating histories, minimum debt, high growth potential and tangible assets, designed to mitigate investor risk. PG is focused on implementing unique business strategies, creating liquidity through asset based infrastructure, supporting and improving operations, infusing an additional growth capital, maintaining and expanding a market presence in their niche sectors, while constantly enhancing this process by a multitude of initiatives.
About EMS Find - Industry's first, on-demand transportation platform, that connects health care providers and consumers with the closest medical transportation providers for the benefit of the patients. The platform enables healthcare providers and patients to schedule medical transportation in timely and efficient manner, based on the type of medical transportation which best fits each patient's needs.
Forward Looking Statements: Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information 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, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of success. This news release speaks as of the date first set forth above and the Company assumes no responsibility to update the information included herein for events occurring after the date hereof. See EMS Find, Inc.'s filings with the Securities and Exchange Commission, which identify specific factors that may cause actual results or events to differ materially from those described in forward-looking statements.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/paradigm-group-enters-into-memorandum-of-understanding-to-acquire-assets-of-wic-300447982.html
SOURCE Paradigm Group, Inc.