GOIP Closes on Merger and Funding -- Appoints New CEO
New York, NY, May 12, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- GoIP Global Inc (otcpink: GOIG) announced today the closing of a merger with TransWorld Enterprises, and the closing of an institutional round of funding by KORR Value, LP and another institutional investor (and their respective affiliates). The Company received approximately $3.25 million fixed convertible debt funding for acquisitions and general working capital purposes. GoIP’s transaction with Apex Extractions announced on January 23, 2020 has been cancelled.
TransWorld Enterprises, Inc. is a newly formed company controlled by KORR Acquisitions Group, Inc. KORR Acquisitions Group, as of the closing, is the controlling shareholder of GoIP. GoIP will change its name to TransWorld Holdings Inc.
TransWorld, as a holding company, will focus on acquiring controlling interests in profitable basic businesses. Initially, TransWorld will focus on acquiring transportation companies and simple manufacturing and or consumer products businesses.
The Company has appointed a new CEO, Philip Scala. Mr. Scala is founder and CEO of Pathfinder Consultants International, Inc. (“Pathfinder”) since 2008. Pathfinder offers unique expertise and delivers the information you need to make informed decisions, whether in times of crisis or in the course of simply running your business. Prior to forming Pathfinder, Mr. Scala served the United States both as a Commissioned Officer in the US Army for five years followed by his 29 years of service with the FBI. Mr. Scala received his bachelor’s degree and Master of Business Administration in accounting from St. John’s University, he also earned a Master of Arts degree in Psychology from New York University.
The Company expects to update its financials and apply for a reverse split, name change and symbol change as soon as possible.
About GoIP Global
GoIP Global, will focus on acquiring controlling interests in profitable basic businesses. Initially, GoIP Global will focus on acquiring transportation companies and simple manufacturing and or consumer products businesses. GoIP will file for a name change to TransWorld Holdings Inc. as soon as possible.
Safe Harbor Statement Information in this news release may contain statements about future expectations, plans, prospects or performance of GoIP Global, Inc. that constitute forward-looking statements for purposes of the safe harbor Provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be," "expects," "may affect," "believed," "estimate," "project," and similar words and phrases are intended to identify such forward-looking statements. GoIP Global, Inc. cautions you that any forward-looking information provided by or on behalf of GoIP Global, Inc. is not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind. GoIP Global, Inc.'s actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond GoIP Global, Inc.'s control. In addition to those discussed in GoIP Global, Inc.'s press releases, public filings, and statements by GoIP Global, Inc.'s management, including, but not limited to, GoIP Global, Inc.'s estimate of the sufficiency of its existing capital resources, GoIP Global, Inc.'s ability to raise additional capital to fund future operations, GoIP Global, Inc.'s ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities and, in identifying contracts which match GoIP Global, Inc.'s capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. GoIP Global, Inc. does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.
Contact:
GoIP Global Inc
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