Adamant Holding Complements the Terms for the Closing of Share Purchase Agreement with Europronet d.o.o.
Vancouver, British Columbia--(Newsfile Corp. - February 13, 2023) - Adamant Holding Inc. (CSE: ADMT) (FSE: U060) (OTC Pink: UCCPF) ("ADMT" or the "Company") today announced its 51% acquisition of Europronet d.o.o., located in Bosnia-Herzegovina. Europronet d.o.o. is worth US$2,900,000 (two million nine hundred thousand US dollars). The transaction of 51% of the outstanding shares of Europronet will be paid in cash in different installments during next three years; It will not be any dilution in Adamant's Shares.
The transaction of 51% is valued US$ 1,479,000 (one million and four hundreds seventy-nine thousand US dollars) and it will be paid in cash in different installments during next three years.
The first payment of $US 246,500 (two hundred forty-six thousand US$) will be at the closing of the SPA, additional 5 equivalent installment will be paid every 6 months after the first payment for the total US$ 1,479,000 (one million and four hundreds seventy-nine thousand US dollars) done cash on hand. However, if in the future there is any need, Adamant Holding will be raising capital via Private Placements.
The Binding agreement is dated 8th of February 2023 and it is arm's length.
The acquisition is in line with Adamant Holding Inc.'s strategy to expand its operations in the growing telecom market in Balcan territory. According to recent reports, the telecom business in the region is expected to experience significant growth in the coming years.
According to an independent evaluation, Europronet d.o.o. has a strong customer base and is expected to bring significant business synergies to Adamant Holding Inc.
Some of the larger clients of EuroproNET include:
- Coca Cola Beverages d.o.o Bosnia i Hercegovina
- Uniqa Osiguranje d.d. Bosnia i Hercegovina
- Vienna Osiguranje Bosnia i Hercegovina
- Hrvatski Telekom d.d. Bosnia i Hercegovina
- INFOSOFT d.o.o. Bosnia i Hercegovina
- Philips Consumer Lifestyle B.V. Bosnia i Hercegovina
- Energoinvest d.d. Bosnia i Hercegovina
- Raiffeisen BANK d.d. Bosnia i Hercegovina
- INTESA SANPAOLO BANKA d.d. Bosnia i Hercegovina
- AUTCON/EUFOR (European Union Force in, Supporting the Armed Forces of Bosnia and Herzegovina (AFBiH)
Europronet is a fully licensed Telecom, and a leading Internet service provider (ISP) founded in 2000 offering a variety of services including: Internet access for private and business users; Datacenter Solution with two main locations in the center of Sarajevo, a variety of Wireless Solution and Telecommunications services; web services with development and placement of web presentations; online marketing, business solutions based on information technologies; and technical support.
The acquisition will allow Adamant Holding Inc. to expand its offerings and provide greater value to its customers.
"We are thrilled to announce this acquisition and welcome Europronet d.o.o. to the Adamant Holding Inc. family," said Andrea Pagani, CEO of Adamant Holding Inc. "This acquisition will bring together with Oktacom Inc and Brilliance llc enhanced services to our customers. We are confident that this will be a mutually beneficial partnership for both companies."
Europronet d.o.o.'s CEO Jernej Kenda said, "We are excited to join forces with Adamant Holding Inc. This acquisition will provide our customers with expanded resources and a broader range of services. We look forward to the business synergies that will come from this partnership."
The closing is expected to be completed in Q2.
Adamant Holding Inc. will provide further updates on the integration of Europronet d.o.o. in the coming months.
Andrea Pagani, Adamant CEO
Telephone: +39 334 661 8604
ADAMANT Global Holding is the owner of Oktacom Inc, a licensed Global Telecom Carrier within the international VoIP (voice over IP) wholesale business, and Brilliance ltd, a cloud-based mobile service company which provides high-quality voice termination to a market driven by the growing activity in online communications and commerce; it has designed a software application for Apple iOS and Android, like SKYPE and WhatsApp.
About Europronet d.o.o.
Europronet d.o.o. is a company located in Bosnia-Herzegovina. For more information, please visit https://www.europronet.ba/.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/154607