NEW YORK, NY–(Marketwired – September 06, 2016) – SoOum Corp (OTC PINK: SOUM) announces that while the closing of its strategic acquisition of Western Grade, LLC is moving along well, additional, advantageous synergies are expected to arise from this acquisition.
This strategic acquisition is well-planned, and both companies agree it should add financial strength and operational infrastructure, along with monetary and equipment resources meant to strengthen the Company’s business foundation. Western Grade is technically capable of meeting US Federal and International Supplemental Specifications for large scale civil projects, and has sustained a range of $4-$7 million in annual revenue for the past five years. SoOum’s international business development team continue to discover opportunities abroad, to bring water and increased sanitary infrastructure, along with roads and bridges imperative to delivering food and supplies to areas of conflict and frontier markets.
The acquisition, geared towards creating a more influential and robust pathway to growth, utilizes Western Grade as a launching pad towards achieving major milestones in the explosive mission of minimizing global scarcity: a multi-billion dollar market. It has been confirmed that some of the leadership of the LLC is expected to join the SoOum Board of Directors and vice versa. Additionally, the strength of Western, combined with the market opportunity of SoOum, offers many strategic advantages, including:
- Enhanced overall commodity delivery capabilities worldwide
- Delivery of water to frontier markets through pipeline and canal building capacities
- Increase capacity to bid on U.S. Federal and International projects
- Sanitary and wastewater expertise increasing revenue taking opportunities
- Roads and clearing for enhanced frontier & emerging market logistics
- Increased logistics for sourcing, procurement and delivery operations
- Increased assets
Western’s motto: “We will find a way or build a new one!,” has helped to push the company forward to the level it is today; combined with its vision, “Western Grade continually endeavors to discern the best path on every project. When the path becomes unclear, Western Grade will draw upon their many resources to build the new path forward.”
About Western Grade
Founded in 2001, and still growing, Western Grade specializes in all excavating, paving, grading and general contractor services for residential, commercial and industrial sectors. Today, Western Grade is a well-respected Civil Contractor, with unsurpassed expertise and state of the art technical capabilities, http://westerngradellc.com/.
About SoOum Corp
SoOum Corp is a publicly held (OTC PINK: SOUM) Physical Commodities Trading firm. Specializing in arbitrage based transactions of Physical Commodities, as well as offering an e-commerce Trading Platform, allowing customers to be a part of a unique community of Physical Commodities Traders, Suppliers, Buyers, and Procurement Agents engaging in the purchasing and selling of Products and Commodities across the globe: www.sooum.com/investor-relations
For inquiries into this matter please contact SoOum at www.sooum.com/investor-relations or reach Rich Kaiser, Business Consultant, YES INTERNATIONAL, 757-306-6090 and/or yes@yesinternational.com
Cautionary Note Regarding Forward Looking Statement
Statements in this press release regarding the Company’s business which are not historical facts are “forward-looking statements” that involve a number of risks and uncertainties. The Company cautions that various factors, including the factors described under the caption forward-looking statements in the Company’s annual report on Form 10-K, could cause actual results to differ materially from the statements contained herein. These factors include the following: business conditions and volatility in the commodities market, and the general economy; competitive factors including compressed gross profit margins; shifts in market demand; product availability; reliance on key customers; fluctuations in foreign currency exchange rates; income tax legislation; and the risk factors listed from time to time in the Company’s reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statement.
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