Golden Developing Solutions Inc. (OTC:DVLP) provides significant shareholder updates

Rhea-AI Summary

Golden Developing Solutions Inc. (OTC Pink: DVLP) announced significant updates regarding its acquisitions in the Health and Wellness marketplace. The company executed a Letter of Intent (LOI) to acquire assets expected to generate over $60 million in annual sales. A previous LOI was canceled due to insufficient profitability assurance. The company is working on three other acquisitions; one is projected to bring in approximately $12 million, another $25 million, and the third is undergoing preliminary tests. Their business pipeline remains strong.

Positive

• Executed LOI to acquire assets with projected sales exceeding $60 million per year.
• Three additional acquisitions are in progress, including one expected to generate $25 million annually.
• Strong pipeline of profitable, high-revenue producing assets.
• Company operates in the high-growth sectors of Biotech, Pharmaceutical, and Medical Technology.

Negative

• Cancellation of a previous LOI due to lack of profitability assurance.
• Initial closing date for the first asset acquisition was delayed after renegotiations.

FORT LAUDERDALE, FL / ACCESSWIRE / August 19, 2022 / Golden Developing Solutions Inc. (OTC Pink:DVLP), an emerging fully reporting company in the Health and Wellness marketplace, is pleased to provide updates on our progress and significant developments. We are excited to announce we have executed an LOI to acquire assets anticipated to provide sales in excess of $60,000,000 per year upon completion. Definitive documents have been prepared and sent for review/signing.

Further Updates: LOI entered into in April has been cancelled as due diligence failed to provide assurance as to the profitability of the company. There are 3 other acquisitions in progress. The original closing date of #1, 08-18 has been delayed as some terms have been renegotiated. This asset should provide sales of appx $12mil+ per year. A second asset acquisition is in place with definitive docs sent, which we project will produce $25mil+ per year upon completion. Third is working through preliminary tests for auditing and possible strategies around it's completion by years end.

The pipeline of deal flow is very strong. We are comfortable in our ability to execute on our mission. These are profitable, high revenue producing assets, which require heavy logistical strategies to complete. Most are in the Biotech/Pharmaceutical and Medical Tech related space.

About Golden Developing Solutions, Inc.

Golden Developing Solutions is a development-stage company providing business services and/or products supporting the Health, Wellness, and Technology industry, in which the company intends to make acquisitions in the near future. Currently operating in launch phase of our 50 state telemedicine network and negotiating several acquisition/merger targets.

Forward-Looking Statements

This press release contains forward-looking statements. All statements other than statements of historical facts included in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by words such as "believe," "expect," "anticipate," "plan," "potential," "continue" or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Investors are encouraged to review the Company's filings with the Securities and Exchange Commission. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. The Company assumes 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. The contents of any website referenced herein are not incorporated into this press release.

Stay tuned for upcoming updates, leveraged partnership projects, blockchain healthcare infrastructure development, and future acquisition targets.

We encourage shareholders to follow our twitter account @OTC_DVLP

Respectfully,

Stavros Triant
stavros@goldendeveloping.com

SOURCE: Golden Developing Solutions, Inc

View source version on accesswire.com:
https://www.accesswire.com/712823/Golden-Developing-Solutions-Inc-OTCDVLP-provides-significant-shareholder-updates

FAQ

What are the latest updates from Golden Developing Solutions Inc. regarding acquisitions?

Golden Developing Solutions Inc. has executed a LOI for assets expected to generate over $60 million in sales, with three other acquisitions ongoing.

What is the financial outlook for Golden Developing Solutions Inc. after recent acquisitions?

The company projects significant annual sales from its acquisitions, with estimates of $12 million and $25 million from two of the ongoing deals.

Why was the previous LOI canceled by Golden Developing Solutions Inc.?

The prior LOI was canceled due to failed due diligence that did not assure profitability.

What sectors does Golden Developing Solutions Inc. focus on for its acquisitions?

The company focuses on Biotech, Pharmaceutical, and Medical Technology sectors for its acquisitions.