LAS VEGAS, NV–(Marketwired – May 2, 2017) – Southern ITS International, Inc. (PINKSHEETS SITS) announced today that it has signed a Letter of Intent (“LOI”) with Evolution Enterprises, LLC. (“Evolution”) to acquire Evolution. Evolution owns and controls a portfolio of highly successful businesses that focus on direct sales network. With its experienced management team in the direct sales industry, Evolution reaches the US and international markets. Based on the Direct Selling Association (“DSA”) 2015 Overview, more than 20 million people were involved in direct sales with an estimated $36 billion in sales.
Evolution and its flagship division, Evolution Travel (www.myevolutiontravel.com), created a complete travel web portal with connectivity to the top travel industry providers, allowing its members to become professional home based travel agents and maximize the benefits to each of its members. Evolution Travel uses all of the social media tools to reach and promote its unique partners reward program that exceeds industry norms. The travel industry according to The World Travel & Tourism Council (WTTC) showed revenues exceeding $8 trillion for 2015.
David McCovy, founder of Evolution, stated, “Evolution Travel generated sales in excess of $10 million and recruited several thousand members during 2016, our first full fiscal year. We created amazing momentum and are confident to double our sales for 2017. We are uniquely positioned to offer true opportunity to our direct sales partners and a piece of the $8 trillion travel industry. Based on becoming public through the acquisition by SITS, we will look to facilitate our acquisitions program in our three key industries: travel, entertainment, and health.”
The LOI was executed on Friday, April 28, 2017 and is valid for 30 days and shall provide Evolution time to complete due diligence and documentation to complete the acquisition and assume control of SITS. When completed the company is expected to change its name and replace all existing directors, officers and management.
Sylvain Desrosiers stated, “We are very excited for the shareholders of SITS to provide this unique opportunity and value creation. We are working hard to complete the merger before May 19, 2017.”
About Southern ITS International, Inc.
Southern ITS International, Inc. has been successful in providing Electronic Security and services to support government regulated high compliance industries. Government sectors, including correctional facilities and programs, and private sectors, including gaming, have had challenges, but have been brought into the mainstream and are now subject to stringent compliance to tough government regulations. Southern ITS International, Inc. has historically developed and delivered to the gaming and corrections sectors high compliance support systems facilitating the integration and implementation of complementary technologies. SITS continues to deliver such electronic security and networking infrastructure to those clients.
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 OTC Markets, Inc. You are further cautioned that 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.
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