Simulated Environment Concepts, Inc. Executes a Letter of Intent (LOI) Concerning a Prospective Merger With CMR Construction & Roofing, LLC, Recognized as One of the Leading Roofing Firms in North America
NASHVILLE, TN, Sept. 05, 2024 (GLOBE NEWSWIRE) -- Simulated Environment Concepts, Inc. (OTC: SMEV or Simulated) and CMR Construction & Roofing LLC (referred to as "CMR") are pleased to announce the execution of a Letter of Intent (LOI) targeted at Strategic Business Combination potentially merging Simulated with CMR, one of the Top 10 roofing companies in the country.
The objective of this proposed merger is to establish a diversified construction company focused on enhancing shareholder value through investments in and acquisitions of innovative construction businesses that prioritize responsible risk management and provide practical solutions to global challenges in the construction and roofing industries. Further, this merger targets to incorporate an enhanced business model that includes increased revenues from ancillary verticals and upselling of existing customers with a full array of home improvements.
Both CMR and Simulated are confident that this merger will yield the necessary strength and resources to implement an ambitious growth strategy. The anticipated merger is a significant step in Simulated's evolution into a multi-faceted enterprise engaged in construction, real estate financing, corporate spin-outs, industry consolidations, and early-stage financing with CMR becoming the surviving entity.
"This strategic transition signifies a crucial juncture and opportunity for SMEV," stated Bryan Wilkinson, CEO of Simulated Environment Concepts. "I have been greatly impressed by CMR's successful execution and expansion since 2018, as they embrace innovation, diversification, and future technologies that will provide a renewed perspective for the future of SMEV shareholders."
The Letter of Intent delineates the principal terms of the proposed merger, which will greatly increase the value of SMEV's market capitalization, due to the fact that CMR has generated over $100 million every year since 2018 and is anticipated to continue to sustain that kind of revenue as they grow their business.
This merger will enable Simulated to incorporate substantial business acumen and management expertise when CMR's team takes over SMEV.
"We're looking forward to collaborating with Simulated and anticipate a successful merger. This transaction is important and integral to our Strategic Plan," said Steven Soule, CEO of CMR Construction & Roofing, LLC.
About CMR:
CMR is America's 9th-Largest Roofing Company. Proudly serving commercial, residential, and government clients nationwide, CMR specializes in historic restoration work, complex commercial buildings, and specialty residential projects. With over 500 employees nationwide, we have the team, equipment, expertise, and partnerships to respond quickly to clients’ needs, often mobilizing within 24 to 48 hours to help mitigate damage caused by severe storms. CMR has earned a reputation for completing challenging projects with ease and meeting tight deadlines while ensuring the quality and integrity of our roofing systems. CMR holds over 35 manufacturer certifications, an A+ rating with the Better Business Bureau, and many national, historical, and industry recognitions for service, success, and craftsmanship, including the Inc. 500 award.
About SMEV:
Nitro Holdings, LLC, a wholly owned subsidiary of SMEV, is an Aqua-Culture based company focused on Farming and Logistics. SMEV is currently in the final stages of completing our 2022 and 2023 audits with our intent to uplist to a new exchange with plans on being fully reporting company in 2024.
Contact Information:
SMEV Shareholder/Investor inquiries can be directed to:
Bryan Wilkinson - CEO
Email:
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