TAMPA, Fla., June 4, 2013 /PRNewswire/ -- Enviro-Serv Inc.
(ESI) (OTC Pink: EVSV) today announces that one of the first two
previous letter of intents and the re-launch of X-Terminate Pest
Management are finalized as full acquisitions and are now legally
wholly owned subsidiaries of Enviro-Serv Inc.
Chris Trina, Chairman and CEO of
ESI stated this, "This is an extremely exciting time for all the
companies involved in these transactions as well as our
shareholders. After announcing a letter of intent with Air Systems
Group over 6 weeks ago and the re-launch of X-Terminate Pest
Management over a month ago these acquisitions are fully
consummated and will reflect in our second quarter financials. We
have valued these two companies at over 1.5
million dollars and are very excited in obtaining these
assets as part of our growing portfolio of service related
companies. Air Systems Group is a very exciting company that has
already booked over $180,000 of A/C
related revenues in the last few months even though the extremely
warm weather has now just arrived in the Tampa Bay area. Their prospects in obtaining
major contracting bids over the next 7 months remains very exciting
as does the launch of their residential division making this
acquisition very promising for our shareholders. The parent company
is assisting in seeking financing either directly or indirectly for
ASG to assist them in their 18 month growth strategy." Trina goes
on to state this about X-Terminate, "I am also hugely excited about
the current and future prospects of X-Terminate Pest Management
Inc. With this subsidiary I will be directly involved on a
day-to-day basis assisting them from all aspects of corporate
oversight and management. Although X-Terminate is wholly owned 100%
by ESI they have agreed to pay a monthly fee to the parent company
of 10%. Summer time represents major termite and lawn care revenues
for the pest control industry in Florida so the timing of this acquisition
couldn't be better."
Regarding the structure of these acquisitions Mr. Trina ended by
stating this, "We have utilized newly issued fully restricted
convertible preferred "B" class shares that vest over a period of 3
years in total. The owners of these preferred shares must stay on
as key management for a minimum two year period. The conversion
pricing is set much higher than our current market price of our
underlying stock and on a fully diluted basis should be accretive
in nature to our shareholders with the expected future revenues and
profits of both companies. Lastly Trina said, "I am working hard on
the acquisition of Royalty Landscape and Design and it's still a
very active negotiation but moving slower than expected. Other than
the newly issued preferred shares the common stock equity structure
of ESI remains exactly as stated in previous announcements and
insiders haven't sold a share nor do I expect any for sale in the
foreseeable future."
About ESI
Enviro-Serv Inc. (OTCPK: EVSV) is a Tampa based corporation specializing in
providing property maintenance services in geographically
concentrated warm climate states. Through an aggressive
acquisition strategy, the Company is building a portfolio of highly
profitable enterprises that offer year round services such as pest
control management, lawn and landscaping care, pool maintenance,
air conditioning/refrigeration installation and repairs and a host
of additional onsite maintenance offerings. Please visit their
website at www.enviro-serv.com
About ASG
Air Systems Group (ASG) specializes in commercial refrigeration and
air conditioning, providing superior customer achievements for all
project sizes and needs. The company's installations, along with
the scores of services provided have positioned ASG as a leading
and inclusive contractor for today's construction projects. A
testimony to their quality services can be seen in their client
list which includes Circle K and Sunoco establishments. In addition
to commercial Stores, ASG services restaurants, car dealerships,
schools, strip centers, assisted living facilities, hotels, along
with an assortment of commercial and residential applications. In
addition to their service department, ASG directs a full commercial
division that is responsible for the installation of ductwork,
refrigeration coolers, kitchen hoods, ventilation and other related
aspects of commercial and residential construction. Please visit
their website at www.airsystemsservices.com
About X-Terminate Pest Management Inc. (XPMI)
XPMI is a full service licensed Florida pest control company specializing in
all Termite eradication and general house pest control. They are
also licensed in Lawn and Ornamental and currently have both
residential and commercial accounts in all aspects of pest control.
They are based in St. Petersburg
and do business in a 75 mile radius around the quad-county area of
Tampa Bay. They are the branded
name in the Tampa area
specializing in eco-friendly dry-wood termite eradication using
XT-2000 orange oil. Their website of www.xterminateinc.com is
currently under construction but will be available to visit very
soon.
Forward-Looking Statements - This press 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.
Such statements are subject to risks and uncertainties that could
cause future results to differ materially from the forward-looking
statements. You should consider these factors in evaluating the
statements herein, and not rely on such statements. The
forward-looking statements in this release are made as of the date
hereof and Enviro-Serv Inc. undertakes no obligation to update such
statements.
CONTACT:
Enviro-Serv Inc. – 813-975-7177
SOURCE Enviro-Serv Inc.
