ICOA Closes 185 Million Acquisition of IBG Finance
Las Vegas, Nevada, Oct. 13, 2021 (GLOBE NEWSWIRE) -- ICOA, Inc. (OTC PINK: ICOA) (“ICOA” or the “Company”) a publicly traded Nevada company and a national provider of wireless and wired broadband Internet networks in high-traffic public locations, currently entering the DeFi, Blockchain, NFT and Crypto Space through multiple acquisitions, announces the closing of its acquisition of iBG Finance, the World’s 1st and only insured DeFi project. The transaction is valued at USD 185,000,000.
Terms of the LOI have been met and final due diligence checks have been completed. Therefore, the Company has elected to go ahead and complete the acquisition of iBG Finance in a transaction valued at USD 185,000,000.
Aneesha Reihana, CEO and Co-Founder of iBG said “Our entire team at iBG is very excited to embark on this new journey. The outlook for iBG and ICOA is very positive. The respective teams’ values are perfectly aligned. We expect this merger to pave the way for the rise of a leader in the DeFi space and for worldwide growth.”
George Strouthopoulos, Chief Executive Officer of ICOA, Inc. added “After countless weeks of due diligence and fine-tuning, both Companies have reached satisfactory terms. We are excited about officially being in the Crypto & DeFi space, and about our ongoing initiatives to embark in the NFT space.”
We invite shareholders and investors to follow our social media handle on Twitter for daily updates on the latest developments.
About ICOA INC.
ICOA, Inc. is a national provider of wireless and wired broadband Internet networks in high-traffic public locations. ICOA provides design, installation, operation, maintenance, and management of WI-FI hot-spot and hot-zone Internet access. ICOA owns or operates broadband access installations in high-traffic locations across 40 states, located in airports, quick-service restaurants, hotels and motels, travel plazas, marinas etc. ICOA networks are compatible with widely used 802.11x technology and with virtually all Internet service providers. ICOA is currently entering the DeFi, Blockchain and Crypto Space through multiple acquisitions.
About iBG Finance
iBG is a Decentralized Finance (DeFi) wealth management platform designed to bring simplicity to users interested in entering the cryptocurrency and the DeFi market. iBG is equipped with the latest Robo Advisory technology to offer algorithm-driven recommendations.
SAFE HARBOR STATEMENT
This press release contains forward-looking statements that can be identified by terminology such as “believes,” “expects,” “potential,” “plans,” “suggests,” “may,” “should,” “could,” “intends,” or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the company’s control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
FOR MORE INFORMATION, PLEASE CONTACT:
CONTACT: Kim Halvorson