TRACCOM INC. (Pink Open Market Symbol: TRCC) COMPLETES ACQUISITION OF VULCAIN, INC.

Rhea-AI Summary

Traccom Inc. (TRCC) has acquired all capital stock of Vulcain Inc. on November 13, 2024. The transaction involved issuing 117,813,680 shares of Traccom common stock, representing 95% of fully diluted shares. Vulcain, now Traccom's main operating subsidiary, added three board members including Greg Duffell as CEO, President and CFO. Vulcain specializes in Causal AI solutions, serving leading US CPG brands with plans to expand into Insurance, Healthcare, and Financial Services. The company's platform uses causal machine learning algorithms and domain experts to provide predictive outcomes for business risks and opportunities.

Positive

• Acquisition provides immediate entry into the growing AI solutions market
• Existing revenue stream from CPG sector clients
• Planned expansion into multiple high-value sectors (Insurance, Healthcare, Financial Services)
• Enhanced access to capital through public market presence

Negative

• Significant shareholder dilution with 95% of shares issued to Vulcain shareholders
• Complete management replacement indicating potential integration challenges

SANTA BARBARA, Calif., Nov. 25, 2024 /PRNewswire/ -- Traccom Inc. (Pink Open Market Symbol: TRCC) is pleased to announce that on November 13, 2024, it acquired all of the capital stock of Vulcain, Inc. ("Vulcain"). As a result of the acquisition, Vulcain has become a wholly owned and main operating subsidiary of Traccom effective immediately.

Upon completion of the transaction on November 13, 2024, Vulcain shareholders were issued 117,813,680 shares of common stock of Traccom in exchange for the acquisition of 100% of the capital stock of Vulcain. This represents 95% of the fully diluted shares of Traccom after the issuance thereof. 

With the transaction, Vulcain added three members to the Traccom board of directors, with Greg Duffell as CEO, President and CFO, Peter Stockmann as President of the Americas, and replaced Traccom's management.

This marks a significant milestone for Vulcain. The company will broaden its market presence in the growing opportunity for Artificial Intelligence (AI) based data solutions. "Trading as a public entity on the Pink Open Market is an important step for Vulcain as we continue to evolve and expand our reach within the Causal AI and Knowledge Management sector," said Greg Duffell, CEO of Traccom. "This transaction will provide us with greater access to capital, enhance our visibility in the marketplace, and allow more investors to participate in our growth story."

Becoming a publicly traded company will allow Vulcain to enhance their visibility. This reflects the company's commitment to increasing shareholder value and advancing its corporate growth strategy in Causal AI and Knowledge Management space.

Former Traccom CEO and continuing Board member, Harry Steck stated, "For Traccom's shareholders, this transaction provides the opportunity to be invested in one of today's most exciting industries with an impressive technology and management team."

Vulcain has commercialized casual AI solutions across various industries including leading US brands in the Consumer-Packaged Goods (CPG) sector to generate annual recurring revenues (ARR) for the company. Vulcain is planning a next phase of expansion into Insurance, Healthcare, Financial Services and other industries. Vulcain uses causal machine learning algorithms and human domain experts to provide high quality causal features necessary for an accurate AI solution. Vulcain's Causal AI Platform includes causal reasoning models to provide predictive outcomes that identify and explain event risks and opportunities for businesses. Vulcain will continue to focus on bringing human domain knowledge into AI solutions and driving value for organizations seeking to unleash the knowledge from their vast amounts of data, content and domain expertise.

Key Highlights:

• Trading Symbol: TRCC
• Market Segment: Pink Open Market
• Sector: Technology, AI

About Traccom, Inc.

The company is at the intersection of human and artificial intelligence, leading the charge to AI 3.0 with high value feature solutions for business. Vulcain's Causal AI platform is used for harmonizing, testing, and validating data for extracting and commercializing knowledge. The Vulcain platform combines hundreds of millions of AI ready data sets and human domain knowledge to provide a ready to use solution that can be customized, scaled and adapted for customer use-cases and human intervention. With a commitment to human-AI, excellence, sustainability, and customer-centric solutions, the company believes that it is poised for long-term growth and success in the global AI marketplace.

For more information about the company and its wholly owned subsidiary Vulcain, Inc., visit www.vulcain.ai.

Forward-Looking Statements

This press release may include ''forward-looking statements.'' All statements pertaining to our future financial and/or operating results, future events, or future developments may constitute forward-looking statements. The statements may be identified by words such as "expect," "look forward to," "anticipate," "intend," "plan," "believe," "seek," "estimate," "will," "project," or words of similar meaning. Such statements are based on the current expectations and certain assumptions of our management, of which many are beyond our control. These are subject to a number of risks, uncertainties and factors. Should one or more of these risks or uncertainties materialize or should underlying expectations not occur or assumptions prove incorrect, actual results, performance, or our achievements may (negatively or positively) vary materially from those described explicitly or implicitly in the relevant forward-looking statement. We neither intend, nor assume any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated. You are urged to carefully review and consider any cautionary statements and the Company's other disclosures filed with the Securities and Exchange Commission. Forward-looking statements speak only as of the date of the document in which they are contained.

Contact:

shareholders@vulcain.ai

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SOURCE Traccom Inc

FAQ

What is the share exchange ratio in TRCC's acquisition of Vulcain?

Vulcain shareholders received 117,813,680 shares of Traccom common stock, representing 95% of TRCC's fully diluted shares after the issuance.

When did TRCC complete the Vulcain acquisition?

Traccom completed the acquisition of Vulcain on November 13, 2024.

What markets is TRCC targeting through Vulcain's AI solutions?

TRCC, through Vulcain, currently serves the CPG sector and plans to expand into Insurance, Healthcare, and Financial Services markets.

Who is the new management team of TRCC after the Vulcain acquisition?

Greg Duffell became CEO, President and CFO, and Peter Stockmann was appointed as President of the Americas.