SPO Networks, Inc.
SPO Networks, Inc. (SPOI) Enters $4.1 Million Dollar Agreement to Acquire, a Profitable General Contracting, Demolition and Hauling Services Company
Red Line Contractors LLC, Is A General Contracting, Demolition And Hauling Services Company, The Industry Leading Demolition Company In Its Field.
FARMINGTON, AR / ACCESSWIRE / July 27, 2021 / SPO Networks, Inc. (OTC PINK:SPOI) ("SPOI" or the "Company"), a publicly-traded company that is actively exploring potential acquisitions and opportunities in diversified industries, including an established revenue generating waste/recycling subsidiary plus a newly launched medical and recreational cannabis and genetic seed operations entity with the expectation of rapid expansion in the cannabis industry utilizing a proprietary vertical market from cultivation facilities, to wholesale and retail dispensaries, today announced that it has entered into an agreement to purchase Red Line Contractors LLC, a general contracting, demolition and hauling services company, the industry leading demolition company in its field.To view this piece of content from www.accesswire.com, please give your consent at the top of this page.
Tom Smith founded Red Line Contractors LLC in October of 2002. Red Line Contractors is a general Contractor specializing in demolition, utility and asbestos remediation. Red Line had sales in excess of $4.1 million dollars in 2020 and expects an increase projected for 2021. The acquisition was for cash and stock.
Rick Hall, the Company's CFO said: 'This acquisition lines up with SPO's objective to invest in diverse industries and will fit nicely with our scrap metal business.'
'This acquisition will allow us to take advantage of Synergies between the companies and allow me to focus on growing SPO Networks Inc. cannabis operations' Tom Smith Founder of Red Line and CEO of SPO Networks Inc.
'Red Line Contractors will be a nice acquisition for the SPO business portfolio. Business has been solid with 29 active and pending jobs, currently. Being that our main business is residential and commercial demolition and removal, the scrap metal operation and its resources will be a great fit' said Tom Miller director of SPO Networks and General Manager for Red Line Contractors.
Red Line Contractors LLC
Red Line Contractors LLC has been serving the Northwest Arkansas Area in the Demolition field since 2002. With a prime territory consisting of Arkansas and its neighboring states, we guarantee our service in any area or condition. Our years of experience and efficiency in the demolition process separate us from the competition in every category. Customer satisfaction is our #1 priority, and we are committed to a safe and timely project. By owning and operating our own heavy equipment and hauling services, we do not rely on rental equipment or containers. Eliminating the third party has allowed us to dominate delivery schedules and maximize success for General Contractors and Private Owners.
Founded in 2002, from Residential to Industrial work, Red Line Contractors holds true to its core values of service and leadership as the industry leading demolition company in its field.
For more information, please go to: https://www.redline.me
SPO Networks, Inc.
SPO Networks, Inc. is actively exploring potential acquisitions and opportunities in diversified industries, including solid waste, scrap metal recycling and demolition with special waste remediation. Additionally, SPO maintains the belief that patients and customers have a right to high quality, economical, and clinically-validated cannabis products. Towards this, SPO aims at medical and recreational cannabis and genetic seed operations with the expectation of rapid expansion in the cannabis industry. SPO is developing its cultivation facilities for extraction operations, wholesaling of cannabis and cannabis extracts in Colorado to licensed retailers and wholesalers. Eventually, the goal is to expand to retail product manufacturing and dispensary operations in several states, allowing SPO to offer a pricing strategy that will be attractive to consumers large and small.
For more information, please go to: https://www.spoinow.com.
This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements relate to future events, including our ability to raise capital, or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
For a discussion of these risks and uncertainties, please see our filings with the OTC Markets Group Inc. Our public filings with the OTC Markets Group Inc are available from commercial document retrieval services and at the website maintained by the OTC Markets at https://www.otcmarkets.com/stock/SPOI/disclosure
SOURCE: SPO Networks, Inc.
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