CARSON CITY, NV / ACCESSWIRE / March 6, 2023 / CECORS, INC. (OTC PINK:CEOS) ("CeCors" or the "Company"), is pleased to announce the acquisition of VetComm Corp. ("VetComm"), a veteran's education and benefits company. The addition of VetComm to CeCors solidifies the Company's entry into the multibillion-dollar veteran benefits industry.
As part of the agreed-upon terms of the acquisition, CeCors will issue a combination of unregistered, restricted preferred and common shares to the VetComm shareholder. In addition, each of Sukhinder Kalsi, Chief Financial Officer and Director and Amar Bhatal, President, Secretary and Director, will be returning a portion of their owned CeCors common and preferred shares to treasury, which shares will be cancelled without consideration, and reissued in an equivalent amount to VetComm founder Kate Monroe. Management of the Company continues to be focused on limiting dilution and bringing value to shareholders while maintaining CeCors current capital structure.
VetComm, founded by United States Marine Corps veteran, Kate Monroe, is a veteran's education and benefits company offering support packages for veterans leading to benefits for a one-time membership cost of $97 per month for a period of 12 months or $997 annually. VetComm is focused on assisting the over 14 million United States veterans that qualify for underutilized annual benefits and owed compensation, resulting in estimated billions of dollars of unclaimed benefits every month in the United States. Members of VetComm can file claims for free, with no medical or service records required and a low monthly maintenance fee to continue services after the initial year of membership. VetComm also focuses resources to support and donate to Veteran Charities. VetComm's goal for 2023 is to help 1 million veterans get rated and receive benefits.
"We are thrilled to be joining forces with CeCors and are excited about the immense opportunity this presents to VetComm," said Kate Monroe, CEO of VetComm. "This acquisition will enable us to expand our reach and provide even more United States veterans with access to the benefits they deserve. We are looking forward to working together to strengthen both companies and create long-term value for CeCors shareholders."
CeCors is committed to enhancing the lives of United States veterans and is proud to be a part of the veteran benefits industry. Concurrent with the acquisition, VetComm will become a wholly-owned subsidiary of CeCors, operating in parallel with the company's existing wholly-owned subsidiary, PsyKey. Each subsidiary offers unique capabilities and opportunities which complement the other. For example, the PsyKey team has experience in digital backends and app development, which will aid in increasing signup potential, scaling of the business, and ease of use for VetComm and its user experience. PsyKey will also gain access to the community of veterans as a new distribution channel for its existing and upcoming functional mushroom-based products designed to optimize daily routine and quality of life.
"We are extremely proud to add VetComm to the CeCors family and enhance our corporate portfolio with this incredible opportunity, expanding our focus to include the veteran's benefits industry," said Amar Bhatal, President of CeCors. "With the closing of the VetComm acquisition in this non-dilutive stock transaction, I strongly believe the company is well-positioned for both long-term growth and the potential to build near-term shareholder value. I would like to thank all of our valued shareholders for their continued support as we continue to implement management's plans for CeCors."
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Safe Harbour Statement - In addition to historical information, this press release may contain statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company's future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance, and performance and involve risks and uncertainties and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency, and profitability, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company's business units or the market price of its common stock. Additional factors that could cause actual results to differ materially from those contemplated within this press release can also be found on the Company's website. The Company disclaims any responsibility to update any forward- looking statements.
SOURCE: CeCors, Inc.
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