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Latest Exobox Technologies Press Release:
Exobox Technologies Corp. Announces Acquisition of Cheribum Builders Group LLC.
FORT WORTH, Texas--(BUSINESS WIRE)--February 04, 2014--
Exobox Technologies Corp. (trading symbol EXBX:OTC, the "Company") is pleased to announce that it has executed a Share Exchange Agreement (the "Agreement") with PDX Partners Incorporated. ("PDX") to acquire the controlling interest (the "Interest") in Cherubim Builders Group LLC. ("CBG").
The Current operations, technologies, and patents of EXBX are being spun out in a new company with a 1 for 1 share distribution, this will leave the current shareholders with the same shares in EXBX as well as their newly found shares in CBG.
The Company has been working on the financials to bring the Company current in all past filings and expects to have this finished approximately at the same time as the closing of the Agreement.
Under the terms of the Agreement for the acquisition; The Company will complete a reverse of 1 share for each 2,000 shares currently owned, and will acquire the controlling Interest of CBG, by issuing 40,000,000 post reversed Common shares of the company. The transaction is expected to occur on or before February 28, 2014, unless mutually extended by both parties.
The transaction will be considered a Reverse Merger and Reorganization for reporting purposes and will undertake a name change to Victura Construction Group Inc.
CBG has three operating subsidiaries in the construction industry: WaterMasters Restoration Inc., Metroplex Home Repair, Inc. DBA Gregg Construction and Designer Lane, each with its own business model. These companies can be found at www.cherubimllc.com.
Gregg Construction Company
Gregg Construction Company ("Gregg") specializes in Water, Fire and Storm Restoration and Reconstruction services. Gregg has 41 years of servicing the residential restoration arena and insurance industry, providing prompt, certified 24-hour emergency services to the Dallas-Fort Worth and surrounding areas.
WaterMasters Restoration Inc.
WaterMasters Restoration, Inc. ("WaterMasters") also specializes in Water, Fire, and Storm restoration and reconstruction services, with an emphasis on large loss occurrences. WaterMasters provides incomparable large loss project management and execution that saves the Insurance Carriers money in ALE (alternative living expenses) and gets the Homeowners back into their home in a shorter time span, creating value for both parties.
Designer Lane was created as a material supply company to service its sister companies Gregg and WaterMasters. Designer Lane, delivers a one-stop kitchen, bathroom, and outdoor living space design and renovation service, quickly and efficiently. Due to Industry Relationships and Volume Purchasing, construction material(s) used by builders, general contractors and multi-family developers can also be acquired at a competitive pricing through the Company.
About Exobox Technologies Corp.
Exobox Technologies Corp. develops information risk management and security solutions that help organizations protect and recover their most valuable information assets. It is committed to its vision to create a more secure environment for the information-centric community through the development of new technologies and security service.
This press release contains forward-looking statements regarding future events and our future results that are subject to the safe harbors created under the Securities Act of 1933 (the "Securities Act") and the Securities Exchange Act of 1934 (the "Exchange Act"). All statements other than statements of historical facts included in this report regarding our financial position, business strategy, plans and objectives of management for future operations, industry conditions, and indebtedness covenant compliance are forward-looking statements. When used in this report, forward-looking statements are generally accompanied by terms or phrases such as "estimate," "project," "predict, " "believe," "expect," "anticipate," "target," "plan," "intend," "seek," "goal," "will," "should," "may" or other words and similar expressions that convey the uncertainty of future events or outcomes. Items contemplating or making assumptions about, actual or potential future sales, market size, collaborations, and trends or operating results also constitute such forward-looking statements.
Forward-looking statements involve inherent risks and uncertainties, and important factors (many of which are beyond our company's control) that could cause actual results to differ materially from those set forth in the forward-looking statements, including the following: oil and gas prices, general economic or industry conditions, nationally and/or in the communities in which our company conducts business, changes in the interest rate environment, legislation or regulatory requirements, conditions of the securities markets, our access to capital, changes in accounting principles, policies or guidelines, financial or political instability, acts of war or terrorism, and other economic, competitive, governmental, regulatory and technical factors affecting our company's operations, products, services and prices.
We have based these forward-looking statements on our current expectations and assumptions about future events. While our management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control.
Exobox Technologies Corp.
Shaun Irvine, Chief Executive Officer
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