NEW YORK, NY, Dec. 12, 2022 (GLOBE NEWSWIRE) — NuGene International, Inc. / Livento Group, Inc. (OTC Pink: NUGN), a dynamic group specializing in get and developing companies with disruptive business models in film, content and technology for fund managers, today announced the signing of a binding letter of intent to acquire a software engineering company focused on Artificial intelligence and robotics.
David Stybr commented: “We are pleased to report that we have completed our due diligence and appraisal negotiations.” Levinto Group Executive Director. “We are at the stage where we have confirmed our intentions in the transaction, drafted the final closing documents and put in place the process related to this acquisition. We assume that we will sign the final documents in January 2023At that point, full information about the transaction will be released including a future business plan on how this acquisition will help the acquiring company and the Levento Group achieve its goals.”
The Livento Group will complete the entire acquisition in exchange for shares. The acquisition adds positive cash flow from day one. Livento will provide full business support as well as assist the company in obtaining government subsidies that can play a major role in further business development. Grants and subsidies from the European Union 750 thousand dollars Available to promote the growth and development of AI and robotics R&D services in the focus area of this company.
The target company includes a team of eight engineers who provide services and products to different clients in Europe, with expected revenue in USD $400,000 in 2023 with an expected increase in revenues 50% on an annual basis, and positive EBITDA in 2022 and beyond. This is a fully sustainable acquisition offering services that have the ability to access the US market. David Stybr added: “Advancements in artificial intelligence and robotics will fundamentally change how organizations search, trade and transact business, and through this acquisition, Livento aims to enhance its product offering and adapt to changing market conditions.”
About Levinto Group
The Livento Group (OTC Pink: NUGN) is focused on acquiring and developing companies with disruptive business models. The company recently launched BOXO Productions, a film and television production subsidiary led by industry leading actor and producers. For more information visit www.liventogroup.com And the www.boxoproductions.com.
Safe Harbor Statement:
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You may define such statements as predictions, projections, or indicating future events, projections, possibilities, or the like. Forward-looking statements involve risks and uncertainties that could cause results to differ materially from those expected or projected. Although the Company believes that the expectations reflected in our forward-looking statements are based on reasonable assumptions, the Company is unable to give any assurance that its expectations will be realized due to several variable factors. Factors or events that may cause actual results to differ may arise, and it is impossible for the Company to predict all of them. Some of these risks and uncertainties include, but are not limited to, general economic and business conditions, the effects of ongoing geopolitical turmoil and regional conflicts, customer demand patterns, changes in consumer trends, and various other factors beyond the control of the Company. Although the Company intends to provide public updates, it undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
David Staeber, CEO
Livento Group, Inc.
#Livento #Group #NUGN #signs #binding #letter #intent #acquire