Veracity Management Global, Inc. (OTCQB: VCMG) announced the Company successfully completed the acquisition of Prospector Portal, Inc. on Jan. 10, 2023. The agreement has an effective date of Dec. 31, 2022. The agreement calls for Veracity Management Global, Inc. to exchange 24,275,754 of its shares with Analog Holdings, Inc. for their 100% ownership of Prospector Portal, Inc. The exchange of these shares represents a 75.21% ownership of Veracity Management Global, Inc. held by Analog Holding, Inc. after the acquisition and exchange. Analog Holding, Inc. owned 100% of the stock in Prospector Portal, Inc., which has operated independently and will be the same with the acquisition of the stock by Veracity Management Global, Inc.
Prospector Portal, Inc. has developed tools and products to make Mining Industry data more accessible and transparent and is in the process of developing more tools. Prospector Portal, Inc. founder and CEO Emily King states: "This is a major milestone for us, and it is a testament to the hard work and dedication of our team. In the next few weeks, we will begin the process of integrating Prospector Portal, Inc., the operating company, as a wholly owned subsidiary of Veracity Management Global, Inc."
"We have built a cutting-edge platform that uses artificial intelligence to provide valuable insights and data to our clients in the mining investment industry," states co-founder and COO Jon Godbout.
About Veracity Management Global, Inc.
The business of Veracity Management Global, Inc. going forward is to acquire a target company or business seeking the perceived advantages of being a publicly held corporation. Veracity Management Global, Inc.'s principal business objective will be to achieve long-term growth potential through a combination with a business rather than immediate, short-term earnings. The Company will not restrict Veracity Management Global, Inc.'s potential candidate target companies to any specific business, industry or geographical location and, thus, may acquire any type of business. The Company re-entered the development stage and the business plan is to evaluate, structure and complete a merger with, or acquisition of, prospects consisting of private companies, partnerships or sole proprietorships.
About Prospector Portal, Inc.
Prospector is a vertical software as a service (SaaS) company that operates a data acquisition and analytics platform that is supported by machine learning and Artificial Intelligence. Prospector synthesizes publicly available data into an organized and searchable interface to help users research and evaluate companies and assets and make informed investment decisions.
Prospector is currently focused on the mining and exploration industry, the platform currently contains data on over 2,800 companies, and more than 10,000 mineral exploration and mining projects listed on multiple global exchanges. Prospector offers multiple data subscription services and products and also offers custom data and analytics solutions.
This press release contains "forward-looking statements" that involve substantial risks and uncertainties for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this press release regarding strategy, future operations, future financial position, prospects, plans and objectives of management are forward- looking statements. Examples of such statements include but are not limited to Veracity Management Global, Inc. may not actually achieve the plans, carry out the intentions or meet the expectations or projections disclosed in the forward-looking statements and you should not place undue reliance on these forward-looking statements. Such statements are based on management's current expectations and involve risks and uncertainties. Actual results and performance could differ materially from those projected in the forward-looking statements as a result of many factors, including, without limitation, the ability to project future cash utilization and reserves needed for contingent future liabilities and business operations and the availability of sufficient resources of the combined company to meet its business objectives and operational requirements.
No Offer or Solicitation
This communication shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Board Member, Veracity Management Global, Inc.
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Original Source: VERACITY MANAGEMENT GLOBAL, INC. Purchases a 100 Percent Interest in Prospector Portal, Inc.