KING GEORGE, VA, Oct. 22, 2020 (GLOBE NEWSWIRE) -- Free Flow, Inc. (FFLO:OTCPINK), whose current subsidiaries provide vehicle dismantling and the recycling of OEM auto parts and supplies; scrap metal processing; and auto leasing, today announced that its wholly owned Accurate Investments, Inc. subsidiary has entered into a Letter of Intent (LOI) to acquire St. Parkersburg, Florida based Terra Construction Group, Inc., engaged in business related to mining, site development, construction and construction project management.
According to the terms of the proposed acquisition, Terra Construction Group would become a wholly owned subsidiary of Accurate Investments, Inc.
The primary business of Terra Construction Group (https://ift.tt/3jmU2pu) has been to develop sites for mid to large scale construction projects, and the company also has tremendous synergies with, and hands-on experience in, the mining industry. The operations are conducted through Terra Construction as well as through three of its wholly owned subsidiaries: Terra Excavating Inc., Central Florida Excavating and Fill Dirt, Inc., David Barron Land Development, Inc. Potential current and future site development, construction and mining industry contracts and operations include both domestic and international opportunities.
As part of the subsidiary acquisition agreement, Adnan Rahman and Hikman Rahman, principals of Terra Construction Group, Inc., will be appointed to both the Free Flow Advisory Board and the Accurate Investments, Inc. Board of Directors. The Accurate Investments Board also includes Free Flow Advisory Board member Jeff Russell and FFLO CEO Sabir Saleem.
Under terms of the LOI, the principals Terra Construction Group agreed to acquire stock of FFLO by investing and/or subscribing in Preferred Series “E” shares. No shares of FFLO Common Stock are involved in this transaction, and upon the anticipated closing, the total number of issued and outstanding Common shares of FFLO would remain unchanged.
Any shareholders or interested potential investors who want to receive information directly from Free Flow, Inc. as soon as it has been publicly disclosed, should sign up for the Company’s Email Alert System at https://mailchi.mp/129de3da6ae6/email-alerts. More information about the Company can be viewed at www.FreeFlowPLC.com.
To view the Company’s recently completed Offering Memorandum, please visit http://www.freeflowplc.com/offering-memorandum/.
ABOUT FREE FLOW, INC.
Free Flow, Inc., traded under the stock ticker symbol “FFLO”, is a Delaware company that creates and acquires operating subsidiaries with the goal of manufacturing and selling products and services. Through its current subsidiaries – Accurate Auto Parts, Inc., Motor & Metals, Inc., and Citi Autos, Corp. – the Company provides OEM (Original Equipment Manufacturer) recycled auto parts and supplies from a warehousing and shipping facility on its 19-plus acre facility in King George, Virginia, USA. Every year, approximately eleven million cars are scrapped and end up in salvage yards for reprocessing. FFLO helps to reduce the carbon footprint involved in the production of new parts and steel products through the sales of recycled auto parts and supplies.
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October 22, 2020 at 08:54PM
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