CLEVELAND, March 22, 2018 (GLOBE NEWSWIRE) — Today, at 11:47 AM, Innovest Global, Inc. (OTC PINK: IVST) closed the acquisition of H.P. Technologies, an Energy business producing $1.2 million in residual revenue annually.
Most importantly, industry pioneer Dennis Giancola, H.P.’s owner, is joining the Innovest Energy team. Dennis was Ohio’s first independent commercial energy broker. He is a Board Member of Energy Professionals of Ohio. His background is in energy efficiency, and H.P. is licensed for both gas and electric in ALL deregulated states. “The respect that Dennis has earned within our industry and among his peers, is without equal,” said Division President, Damon Mintz. “He is exactly the person we need, to take full advantage of the opportunities before us.”
Mr. Giancola is equally enthusiastic. “This is an unprecedented time of opportunity in the Energy business,” he said. “I’m determined and frankly, fired-up, to be part of a team that is so focused, and so well equipped to go after it.” The immediate integration is designed to result in a significant increase in synergistic sales, which would result in both revenue growth and profit. Additionally, it is the first acquisition by Innovest which results in a direct expansion of one of its primary current offerings.
Innovest’s Commercial and Industrial Division has acquired the full service procurement business and it increases baseline quarterly revenue forecast for the division to $800,000. H.P. Technologies features more than 300 commercial and industrial clients, which Innovest Energy Group will immediately access for synergistic sales of lighting and efficiency solutions. Its location on the West Side of Cleveland is ideal, and represents a perfect geographic expansion to the current East Side operation of Shepherd Energy, Innovest’s first Energy Group acquisition.
It has been a busy month at Innovest, for both the Commercial & Industrial Division, and the forthcoming Biotechnology & Health Sciences Division. Look for much more information to come soon. As noted consistently, IVST will increasingly use Twitter, which can be accessed both on Twitter @innovestglobal and on the front page of our website www.innovestglobal.com, for important company updates. This includes information that may be material, so please follow us and visit our website regularly! For more information on Innovest Global, Inc. (OTC Pink: IVST) contact info@innovestglobal.com, or call Innovest investor Relations Matt Rego at 216.815.1122.
Safe Harbor Statement: This news release contains “forward-looking statements”, which are statements that are not purely historical and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Disclaimer:
Spotlight Growth is compensated, either directly or via a third party, to provide investor relations services for its clients. Spotlight Growth creates exposure for companies through a customized marketing strategy, including design of promotional material, the drafting and editing of press releases and media placement.
All information on featured companies is provided by the companies profiled, or is available from public sources. Spotlight Growth and its employees are not a Registered Investment Advisor, Broker Dealer or a member of any association for other research providers in any jurisdiction whatsoever and we are not qualified to give financial advice. The information contained herein is based on external sources that Spotlight Growth believes to be reliable, but its accuracy is not guaranteed. Spotlight Growth may create reports and content that has been compensated by a company or third-parties, or for purposes of self-marketing. Spotlight Growth was compensated two thousand five hundred dollars cash and fifty thousand restricted shares for the creation and dissemination of this content.
This material does not represent an investment solicitation. Certain statements contained herein constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may include, without limitation, statements with respect to the Company’s plans and objectives, projections, expectations and intentions. These forward-looking statements are based on current expectations, estimates and projections about the Company’s industry, management’s beliefs and certain assumptions made by management.
The above communication, the attachments and external Internet links provided are intended for informational purposes only and are not to be interpreted by the recipient as a solicitation to participate in securities offerings. Investments referenced may not be suitable for all investors and may not be permissible in certain jurisdictions.
Spotlight Growth and its affiliates, officers, directors, and employees may have bought or sold or may buy or sell shares in the companies discussed herein, which may be acquired prior, during or after the publication of these marketing materials. Spotlight Growth, its affiliates, officers, directors, and employees may sell the stock of said companies at any time and may profit in the event those shares rise in value. For more information on our disclosures, please visit: https://spotlightgrowth.com//disclosures/
