Business
WealthCraft Capital Acquires Control of Security Service Provider Geaux Industries
WealthCraft Capital Acquires Control of Security Service Provider Geaux Industries.
About this update from Wealthcraft Capital, Inc.
[{"type":"text","content":"\n \n WealthCraft Capital, Inc. (“WealthCraft” or the “Company”) [OTCBB: WCCP] \n is pleased to announce the acquisition of a majority interest in Geaux \n Industries (“Geaux”), a provider of security services for commercial, \n retail and industrial customers, with customized services and special \n patrol methods applicable for the cannabis industry, in exchange for \n $1,000,000 of the Company’s common stock at market value. The exchange \n agreement provides for the Company to acquire the minority interest, \n under certain terms and conditions. Geaux is licensed by California \n Department of Consumer Affairs. For selected security operations, it \n does business under the franchised name of Signal 88 Security.\n \n \n The Company believes that the security industry will continue to grow at \n an overall rate of between 6% and 8% growth while in the cannabis \n industry; growth rate could be substantially in excess of the 10% to 30% \n predicted for those with an appropriate customer focused business plan. \n Geaux will continue to address the marketplace with innovative new \n technologies and services and creative business models for the \n traditional and non-traditional businesses.\n \n \n At the closing, the Company provided $100,000 of additional expansion \n capital obtained as part of the proceeds of a private placement of \n convertible notes not to exceed $750,000 to be sold and issued and was \n or is available to investors under Section 4(a)(2) and Rule 506 of \n Regulation D.\n \n \n At the closing, Adam Sexton, the Chief Executive Officer of the Company, \n was appointed to fill a vacancy on the Board of Directors of Geaux.\n \n \n Management Commentary\n \n \n Will Mayhew, Jr., President and Chief Executive Officer of Geaux \n Industries comments: “We are very excited to be working with WealthCraft \n on expanding our elite specialized security services to protect \n businesses, property and individuals. We believe that our experience in \n the security industry in general and in providing specialized services \n to the medical and recreational cannabis businesses with the economic \n and business support of WealthCraft will facilitate the addition of \n additional locations and others in the emerging vertical growth cannabis \n industry.”\n \n \n Adam D. ...