Business
Southern ITS International, Inc., Agrees to Acquire Kinzie LLC
Southern ITS International, Inc., Agrees to Acquire Kinzie LLC.
About this update from Southern Its International Inc.
[{"type":"text","content":"PALM DESERT, CA / ACCESSWIRE / August 31, 2023 / Southern ITS International, Inc. (OTC Pink Open Market:SITS) announced today that it has entered a Letter of Intent to acquire Kinzie LLC, to become a wholly owned subsidiary.James Shipley, President of Southern ITS International, Inc., commented, "We are excited at the prospect of our future acquisition in Kinzie, LLC, and look forward to finalizing the cash transaction." Mr. Shipley added, "The closing of this transaction is subject to due diligence by both parties and the entering into a definitive agreement. We expect to consummate the transaction prior to the end of this fiscal year. When completed, this acquisition will be defined by our goal of seeking companies with positive revenues, and excellent growth potential and for the benefit of our shareholders."Jeremy Larsen, CEO, of Kinzie, LLC said, "Kinzie was established in 2013, family-owned and operated. Kinzie is an e-commerce jewelry enterprise that has demonstrated exceptional growth in the online retail sphere. In 2023, Kinzie LLC strategically expanded its product offerings to include everyday household items." Mr. Larsen went on to say, "With a track record of surpassing $28,000,000 in sales since its inception, Kinzie LLC looks forward to continued growth as it embarks on an exciting new chapter under the umbrella of Southern ITS International, Inc.About Southern ITS International, Inc.Southern ITS International, Inc. intends to own and/or control a portfolio of highly- successful businesses and will focus on being a multi-national conglomerate. As a holding company, Southern ITS International will be in the market to acquire a stake in various public and private companies. It will also focus on building a direct sales network of various e-commerce internet applications, manufacturing, and internet sales of various products. We will build an experienced management team that will build a diverse portfolio, buying entire companies, or interests therein, involved in technology, oil and gas, manufacturing, real estate, and other sectors, which will then become operating subsidiaries of Southern ITS International.Precautionary and Forward-Looking StatementsThis release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as ame...