- Created: Tuesday, 10 April 2018 22:53
- Written by Nasdaq GlobeNewswire
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NEW YORK, April 10, 2018 (GLOBE NEWSWIRE) -- Williamsville Sears Management Inc. (OTC Pink:WSML) ("WSML" or the "Company") is pleased to announce that it has signed a Letter of Intent (the "LOI") for the acquisition of PrimewaterView Limited, a Nigerian-based real estate and investment firm, in an all-stock transaction subject to the approval by both companies of definitive documents and the achievement of certain other milestones. PrimewaterView Limited is the number 4 largest real estate development, sales and investment company in Nigeria.
The acquisition anticipated by the LOI is the result of a process initiated following WSML's strategic review announced a week ago. If consummated, WSML will own 100% of the outstanding shares of PrimewaterView Ltd. The due diligence process will follow immediately, PrimewaterView already has PCAOB Audits for over three years now. Since formation, PrimewaterView has developed a total of 702 units, 652 of those have been sold and 50 of those are currently on the market being sold by PrimewaterView. Click the link for completed projects: http://primewaterviewholdings.com/completed-projects/ and https://www.youtube.com/watch?v=CGdrGav7K4M
PrimewaterView also has another 2919 units that are currently ongoing development projects. Click the link for more information on some of the completed projects: http://primewaterviewholdings.com/ongoing-projects/.
Egerton Forster, Chief Executive Officer of Williamsville Sears Management Inc., stated, "We are excited about the opportunity to acquire this large real estate company which is ranked as the number 4 largest real estate company in Nigeria. They already have a PCAOB audited accounts and our teams are working hard to complete due diligence of PrimewaterView Limited."
About Williamsville Sears Management Inc.
Williamsville Sears Management is a diversified holding corporation that was formed by Mandla J. Gwadiso. The group operates its own assets through a range of subsidiary companies up under its purview. The group's primary focus is in real estate, mining, media, transportation, entertainment and technology. The group uses vertical integration as a strategy of diversification and growth. The group plans to grow through acquisitions in Africa, United Kingdom and the United States.
Williamsville Sears Management actively seeks a select portfolio of high-calibre strategic subsidiaries which it acquires based on market trends and their ability to deliver strong returns to shareholders whilst enhancing the communities in which the investments are located. http://www.williamsville.us/
About PrimewaterView Limited
PrimewaterView Limited engages in the development and investment of residential and commercial real estate properties in Nigeria. It also plans to constructs hotels, office complexes, shopping malls, and business parks in Lagos, Abuja, Africa, and other parts of the world. The company was founded in 2005 and is based in Lagos, Nigeria. PrimewaterView Limited operates as a subsidiary of Primewaterview Holdings Limited, a wholly owned subsidiary of Milost Global Inc.http://primewaterviewholdings.com
The statements in this press release constitute forward-looking statements within the meaning of federal securities laws. Such statements are based on our current beliefs and expectations and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, such forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Potential risks and uncertainties include, but are not limited to, technical advances in the industry as well as political and economic conditions present within the industry. We do not take any obligation to update any forward-looking statement to reflect events or developments after a forward-looking statement was made.