Golden Developing Solutions, Inc (OTC PINK:DVLP) Announces Execution of LOI with $10mil/yr Revenue Merger Candidate

Rhea-AI Summary

Golden Developing Solutions Inc. (OTC PINK:DVLP) has signed a Letter of Intent (LOI) for a merger with a company generating approximately $10.5 million in annual revenue and an estimated EBITDA of $900,000. This acquisition aligns with DVLP's growing Telehealth platform and is one of several potential deals in the pipeline. The company is currently in the launch phase of its telemedicine network and is pursuing further acquisition targets. Additional details are expected soon.

Positive

• Proposed merger candidate shows significant revenue of approximately $10.5 million/year.
• Estimated EBITDA of $900,000 adds potential profitability.
• Acquisition supports expansion of the Telehealth platform.

Negative

• Merger candidate is not the largest deal in the pipeline, indicating possible limitations in growth.

News Market Reaction – DVLP

-12.82%

1 alert

-12.82% News Effect

On the day this news was published, DVLP declined 12.82%, reflecting a significant negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

FORT LAUDERDALE, FL / ACCESSWIRE / April 1, 2022 / Golden Developing Solutions Inc. (OTC PINK:DVLP), an emerging fully reporting company in the Health and Wellness marketplace, today announces execution of an LOI with strong foundational merger candidate. We are extremely excited to move forward with our latest acquisition target in the health and wellness industry.

A few highlights:

Revenue appx $10.5mil/yr

Ebitda est $900,000

Aligns with our Telehealth platform

One of several deals in pipeline, but not the largest

More details coming soon…

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

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.

Corporate Contact:
We encourage our shareholders to follow our Twitter account @OTC_DVLP
Stavros Triant
stavros@goldendeveloping.com

SOURCE: Golden Developing Solutions, Inc

View source version on accesswire.com:
https://www.accesswire.com/695579/Golden-Developing-Solutions-Inc-OTC-PINKDVLP-Announces-Execution-of-LOI-with-10milyr-Revenue-Merger-Candidate

FAQ

What are the key financials of the merger candidate for DVLP?

The merger candidate has an annual revenue of approximately $10.5 million and an estimated EBITDA of $900,000.

How does the acquisition align with DVLP's business strategy?

The acquisition aligns with DVLP's Telehealth platform, indicating a focus on enhancing their health and wellness services.

What is the expected impact of the merger on DVLP's future?

The merger is expected to strengthen DVLP's market position and could lead to revenue growth and enhanced services.

Are there any risks associated with this acquisition?

Potential risks include the fact that this merger candidate is not the largest deal in DVLP's pipeline, which may limit overall growth.