Pasadena, California, Aug. 27, 2015 (GLOBE NEWSWIRE) -- ABT Mining Co. (OTC Pink: ABOT, the “Company”) also doing business as ABT Holdings today announced the following Shareholder update regarding the company’s recent announcement to acquire Scoobeez, which is an “On Demand” door to door messenger, courier and delivery service company that primarily utilizes scooters and motorcycles along with cars to facilitate same day deliveries.
Shahan Ohanessian, CEO of ABT, “We are extremely happy with the progress of our careful due diligence process on Scoobeez and its affiliated companies. We are in the final negotiations of finalizing definitive agreements and completing the detailed structure of the transaction. Mr. Ohanessian further added, “Senior management of ABT have been deeply involved in observing, advising, and overseeing Scoobeez operations as part of our evaluation process since the end of July, 2015 when we announced our letter of intent “LOI”.”
The Company is actively negotiating to retire few of the remaining notes with existing note holders Subsequent to the retirement of these notes and continued effort of the Company to de-leverage the balance sheet, ABT is on the path of ultimately building a solid foundation of the Company’s future growth and strategic plans.
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About the Company
ABT Mining Co. Inc. doing business as ABT Holdings is a diversified holding company engaged in investing, acquiring, developing, and growing various businesses that provide strategic advantages, generate attractive returns and significant free cash flow in order to maximize value of our shareholders.
Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company’s operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.
Contact: Imran Firoz, CFO ABT Holdings/ABT Mining Co. OTC PINK: ABOT 225 S Lake Avenue | Suite 300 | Pasadena | CA 91101 T: +1 818.302.0100 E: firstname.lastname@example.org
Source:Abot Mining Co.