Purespectrum Inc. (PSRU:OTC) Acquires Land In Encinitas, California And Updated Corporate Contact Information
LOS ANGELES, Nov. 08, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Purespectrum Inc. (OTC:PSRU) is pleased to announce that is has acquired vacant land in Encinitas, California at a 40% discount to its estimated value of $1,417,534. The purpose of the purchase is two-fold. Firstly, it strengthens the balance sheet of the company with a hard asset that will assist in negotiations with any potential mergers or acquisitions especially with respect to content. Secondly, if the company builds a property on the land, it could house our out-of-town celebrities, producers and other stakeholders.
With real estate in California being highly demanded, Purespectrum feels that by incorporating property in its balance sheet, it will provide a long term appreciation for shareholders. PSRU is currently in the process of acquiring even more property in order to strengthen its balance sheet substantially.
Xavier Mitchell, CEO of Purespectrum Inc. (PSRU:OTC), states the following, “The seller of the land is a major real estate developer in California. As such, he was interested in making a sizable investment in the company to have an eventual equity position so as to benefit from our rapidly expanding company. This acquisition benefitted both of us.”
Please be advised to use both our updated corporate contact information and website for all updates, news, and communication.
Investor inquiries:
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Twitter: @psruofficial
Facebook: @Psruofficial
Updates will be forthcoming.
Legal Notice Regarding Forward-Looking Statements:
This press release contains forward-looking information within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. That includes the possibility that the business outlined in this press release cannot be concluded for some reason. That could be as a result of technical, installation, permitting or other problems that were not anticipated. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Purespectrum Inc. to be materially different from the statements made herein. Except for any obligation under the U.S. federal securities laws, Purespectrum Inc. undertakes no obligation to publicly update any forward-looking statement as a result of new information, future events or otherwise.
Contact Information:
Investor inquiries:
Website:
Twitter: @psruofficial
Facebook: @Psruofficial
