CPSM, Inc. Cancels LOI, Expands Organically


Today the Florida based pool & spa industry aggregator announces they have withdrawn their offer per a Letter of Intent to acquire E & M Pool Plastering Inc. and have chosen to develop the plastering division from internal and external resources.

Lawrence Calarco, Chairman of CPSM, Inc., said, "After careful and considerable due diligence, CPSM has determined that our most fiscally responsible path into the plastering side of the business is from tapping resources from within our established team. We will be adding additional seasoned personnel from the industry to bolster our responsiveness and enhance revenue potential. Taking the internal approach to growth will permit CPSM greater control over product quality and customer experience; both hallmarks of CPSM's heritage. Demand for our services has never been greater in this category. Year over year, growth in Q1, specifically for our plastering services, has exceeded 50% organically. We felt the internal approach was less dilutive for our shareholders and also, a more responsible path for a successful growth strategy."

CPSM, Inc. is a publicly held company serving the rapidly expanding pool and spa maintenance, design, and construction industry in Florida.

Safe Harbor Statement: This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks described in statements filed from time to time with the Securities and Exchange Commission. All such forward-looking statements whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements that may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.

CONTACT: Jeff Michel Director CPSM, Inc. Email: info@cpsm-inc.comSource:CPSM, Inc.