Metavesco Acquires Assets From Epic Labor

Rhea-AI Summary

Metavesco, Inc. (OTC PINK:MVCO) has successfully acquired key assets from Epic Labor, Inc., a Georgia-based provider of on-demand temporary staffing solutions. The acquisition includes customer contracts, tangible assets, and operating assets of Epic Labor's Nashville and Knoxville branch offices. Metavesco will rebrand these offices under its newly created subsidiary, Epic Labor, Inc.

Ryan Schadel, CEO of Metavesco, expressed enthusiasm for the acquisition, highlighting the staffing industry's $200 billion annual revenue in the US. He emphasized the alignment with Metavesco's strategic vision of diversifying holdings and investing in industries with resilient, long-term growth potential.

The transaction was completed on September 27, 2024. Metavesco aims to build the Epic Labor brand while adhering to its 'Build in Public' philosophy.

Positive

• Acquisition of key assets from Epic Labor, including customer contracts and operating assets
• Entry into the $200 billion US staffing industry
• Diversification of Metavesco's holdings into a resilient, long-term growth industry
• Expansion of Metavesco's presence in Nashville and Knoxville markets

Negative

• Assumption of certain liabilities necessary for ongoing operations

News Market Reaction – MVCO

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On the day this news was published, MVCO declined NaN%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

CUMMING, Ga., Sept. 30, 2024 (GLOBE NEWSWIRE) -- Metavesco, Inc. (OTC PINK:MVCO), a pioneering holding company focused on acquiring, operating, and nurturing innovative businesses in both digital and traditional sectors, is pleased to announce the successful acquisition of key assets from Epic Labor, Inc., a Georgia-based provider of on-demand temporary staffing solutions.

Under the terms of the agreement, Metavesco, through its newly created wholly owned subsidiary Epic Labor, Inc., has acquired customer contracts, tangible assets, and the operating assets of the Nashville and Knoxville, TN branch offices of Epic Labor, Inc. d/b/a laborSMART. Metavesco will assume certain liabilities necessary for the ongoing operations of the business and the branch offices will be rebranded under the Epic Labor trademark, owned by Metavesco.

Ryan Schadel, CEO of Metavesco, commented, “I am thrilled to finally have this acquisition completed. The staffing industry generates over $200 billion in revenue per year in the US alone. This acquisition aligns perfectly with our strategic vision of diversifying our holdings and investing in industries that provide resilient, long-term growth. We are going to build something amazing with the Epic Labor brand and we are going to Build in Public.”

The transaction was completed on September 27, 2024.

About Metavesco

Metavesco is a diversified investment holding company focused on acquiring and managing assets across multiple sectors, including bitcoin mining, consumer packaged goods, and staffing services. The company is dedicated to long-term growth through strategic acquisitions and innovative market solutions.

Safe Harbor Statement

This press release contains statements that constitute forward-looking statements. These statements appear in a number of places in this press release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; and (iii) growth strategy and operating strategy. The words "may", "would", "will", "expect", "estimate", "can", "believe", "potential", and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is included in the Company's filings on otcmarkets.com.

CONTACT:
info@metavesco.com
(678) 341-5898

SOURCE: Metavesco, Inc.

FAQ

What assets did Metavesco (MVCO) acquire from Epic Labor?

Metavesco acquired customer contracts, tangible assets, and operating assets of Epic Labor's Nashville and Knoxville branch offices.

When was the acquisition of Epic Labor assets by Metavesco (MVCO) completed?

The acquisition was completed on September 27, 2024.

How does the Epic Labor acquisition align with Metavesco's (MVCO) strategy?

The acquisition aligns with Metavesco's strategy of diversifying holdings and investing in industries with resilient, long-term growth potential, such as the $200 billion US staffing industry.

What is Metavesco's (MVCO) plan for the acquired Epic Labor assets?

Metavesco plans to rebrand the acquired branch offices under the Epic Labor trademark and build the Epic Labor brand while adhering to its 'Build in Public' philosophy.