Business
Lelantos Holdings Successfully Acquires 15 Semitrucks Worth Approximately $1 Million Through Asset Purchase Agreement
Lelantos Holdings Successfully Acquires 15 Semitrucks Worth Approximately $1 Million Through Asset Purchase Agreement.
About this update from Lelantos Holdings Inc.
[{"type":"text","content":"\n LAS VEGAS, March 24, 2023 (GLOBE NEWSWIRE) -- via InvestorWire -- Lelantos Holdings, Inc. (OTC PINK: LNTO) (“Lelantos” or the “Company”), formerly ProConcept Marketing Group, Inc., is pleased to announce that it has executed a formal asset purchase agreement to acquire 15 semitrucks with a current operational business model. This initial acquisition will conclude the first phase of the Company’s four-step approach to entering into the shipping and logistics business. The completion of this initial asset purchase will provide Lelantos Holdings with a cash-flowing business model that is intended to complement its current energy division, as well as deliver the Company an increased asset valuation. The Company has also submitted its supplemental nonshell report with OTC Markets with the intent to remove the Company’s “Shell” designation.  CEO Nathan Puente stated, “We are excited to add additional assets to our company, propel past the shell status and provide value to both the Company and shareholders. This, along with the acquisition of Lelantos Energy and the many projects under development, will help cement our future growth and achieve our goals of being an established and profitable company.” The initial assets were acquired from TK Zarro, LLC through a senior secured, 12-month convertible promissory note, which currently holds a principal debt amount of $1,397,664 and earns 8% interest annually, while providing the seller with an option to convert any unpaid debt into unrestricted LNTO stock at a 20% conversion discount to market price when the note matures. All assets initially acquired hold an approximate total valuation of $1,144,730 million, calculated by equally splitting the total average market valuation and the retail valuation numbers provided and reported through bumper.com, a third-party vehicle reporting agency.  COO Joshua Weaver stated, “The Company acquired the initial 15 semitruck assets at a slight premium to the approximate asset value, due to our team’s complete understanding of the financial potential within the full business model, when all four phases are achieved. The decision was unanimously agreed upon by the board of directors, and we are all excited to add a logistics branch to our growing company, as it will compl...