Southern ITS International, Inc. Enters Letter of Intent to Acquire a Thirty Percent Ownership Interest in Atacama Minerals, Inc.

Rhea-AI Summary

Southern ITS International, Inc. (OTC Pink: SITS) announced a Letter of Intent to acquire a 30% stake in Atacama Minerals, Inc., focusing on gold mining in northern Chile's Atacama Desert. CEO James Shipley expressed optimism about the investment, highlighting Atacama's mining rights in a region rich in gold and copper. The transaction will depend on due diligence and is expected to close within the current quarter. This move aims to expand Southern ITS's portfolio and is the first in a series of planned acquisitions targeting companies with significant growth potential.

Positive

• Acquisition of 30% in Atacama Minerals potentially enhances portfolio.
• Strategic focus on gold mining in a mineral-rich region.
• Investment in exploratory drilling could lead to long-term production.

Negative

• Transaction subject to due diligence, which may delay closing.
• Market volatility and risks associated with penny stocks may impact investor confidence.

Palm Desert, California , July 22, 2021 (GLOBE NEWSWIRE) -- Southern ITS International, Inc. (OTC Pink: SITS) announced today that it has entered into a Letter of Intent with Atacama Minerals, Inc., to acquire a Thirty percent ownership interest in the Wyoming-based company with plans to engage in the mining of gold in the Atacama Desert region of northern Chile.

James Shipley, CEO of Southern ITS International, Inc., commented, “We are excited at the prospect of our investment in Atacama Minerals and look forward to finalizing the stock for stock transaction. With Atacama Minerals being the owner of mining rights in this mineral-rich region of Chile, we look forward to assisting them with their capital needs for their exploratory drilling operations and, hopefully, long-term production, depending upon the results of the exploratory drilling. With the Atacama Desert region being renown for its vast gold, copper, and other mineral deposits, we are hopeful for positive results.”

Mr. Shipley added, “The closing of this transaction is subject to due diligence by both parties and the entering into of a definitive agreement. We expect to consummate the transaction during the current quarter. When completed, this acquisition will be one of the first of many which we hope will be defined by our goal of seeking companies with excellent growth potential.”

About Southern ITS International, Inc.

Southern ITS International, Inc. intends to own and/or control a portfolio of highly- successful businesses and will focus on a being a multi-national conglomerate. As a holding company, Southern ITS International will be in the market to acquire a stake in various companies both public and private. It will also focus on building a direct sales network of various e-commerce internet applications, manufacturing, and internet sales of various products. We will build an experienced management team that will build a diverse portfolio, buying entire companies, or interests therein, involved in technology, oil and gas, manufacturing, real estate, and other sectors, which will then become operating subsidiaries of Southern ITS International. 

Precautionary and Forward-Looking Statements
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude or risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in the Company's disclosures or filings with the SEC. You are further cautioned that penny stocks and stocks of smaller companies like Southern ITS International, Inc. are inherently volatile and risky, and that no investor should buy this stock unless they can afford the loss of their entire investment.

Contact:  Southern ITS International, Inc.
                  Investor Relations
                  442-300-6522
                  info@sitsintl.com

Source:  Southern ITS International, Inc.

FAQ

What is the significance of Southern ITS International's acquisition of Atacama Minerals?

The acquisition allows Southern ITS to gain a foothold in the gold mining sector, enhancing its portfolio and growth potential.

When is the acquisition of Atacama Minerals expected to close?

The transaction is expected to close during the current quarter, pending due diligence.

What are the potential risks associated with the investment in Atacama Minerals?

Investors face risks such as market volatility, uncertainties in exploratory drilling results, and inherent risks of penny stocks.

What percentage of Atacama Minerals is Southern ITS acquiring?

Southern ITS International is acquiring a 30% ownership interest in Atacama Minerals.

How does this acquisition align with Southern ITS International's future strategy?

This acquisition is part of Southern ITS's strategy to build a diverse portfolio by investing in companies with high growth potential.