MassRoots Enters into Letter of Intent to Acquire Empire Services, Inc.
Summary
I believe this will be the first of many acquisitions and asset purchases.” Established in 2002, Empire operates 10 metal recycling facilities in Virginia and North Carolina and expects to continue expanding its footprint in the coming quarters. Upon closing of the transaction, Danny Meeks, the sole shareholder of Empire, will join MassRoots’ Board of Directors as its Executive Chairman. Over the coming months, the Company intends to settle its outstanding preferred shares and debts primarily with cash flows from operations. Established in 2002, Empire Services, Inc. operates 10 metal recycling facilities in Virginia and North Carolina and expects to continue expanding its footprint in the coming quarters. Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections.