Auscrete Corp Com (OTCMKTS:ASCK) is closing in on a number of acquisition targets that have the potential to bolster its revenue base going forward. Deals for unnamed stealth acquisition as well as two pension funds could be announced soon according to Chief executive officer, John Sprovieri.
Pension Funds Acquisition
Sprovieri believes the acquisition will be a big coup, as they will go a long way in providing a hedge against market volatility swings. The acquisitions are also expected to give the company’ balance sheet greater flexibility through the inclusion of new revenue streams. The two private funds that Auscrete Corporation is pursuing have assets under management worth more than 1 billion.
In defense of the acquisition of the pension funds, Sprovieri says the same should provide a counterbalance to development outlays normally experienced in the long run. Auscrete is essentially borrowing a leaf out of Berkshire, which has grown at the back of acquisition of the likes of National Indemnity Company as well as the taking of stakes in the Government Employees Insurance Company.
Resort and Spa Acquisition
In addition to Pension Funds, Auscrete Corporation is also eyeing a resort and spa in the Poconos as part of the acquisition drive. The company says the acquisition target is close to a high profile and prestigious golf course making it an exciting takeover target, given the client base at stake. Acquisitions are to be carried through a restricted stock disbursement according to the executive.
Even though the acquisition drive could expand the company’s operations into new industries, Auscrete Corporation has reiterated it is not planning to move away from its core competencies. The acquisition of a resort in Poconos, for instance, is geared towards pursuing new opportunities that have the potential to bolster shareholder returns as well as the overall company’s gains.
In a bid to avoid confusion or disruption on the merger part, Auscrete Corp Com (OTCMKTS:ASCK) says all the assets up for acquisition will operate as standalone subsidiaries.
Life Clips Inc (OTCMKTS:LCLP) Engages Retail Ready Group As Exclusive Rep
Life Clips Inc (OTCMKTS:LCLP) has announced that it has signed an exclusive representative agreement, with Retail Ready Group LLC. The company stated that the agreement covers its 4K action camera and Mobeego products, which would be distributed to some of the largest retailers, worldwide. It should be noted here that Retail Ready has established relationships with a large number of retailers and over 70 years of business experience. LCLP’s CEO, Bob Gruder, commented on the agreement saying it was exciting to have the experienced team of Retail Ready behind LCLP brands, as the company looks towards opening new sales channel at a national and international level.
Earlier the company had also announced that it had received its first order from H.T. Hackney, one of its distributors in the US, which serves over 20,000 stores across the country. The distributor has over 100 years of experience and is one of the largest distributors in the country. Mr. Gruder commented that the revenue opportunities generated through Hackney could potentially be enormous.