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London, United Kingdom, March 29, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- Argentum 47, Inc. (www.arg47.com) (OTC: ARGQ) is extremely delighted to announce that management have fully executed a legally binding letter of intent to acquire UK based company, The Data Source (UK) Limited (“TDS”).
Management has been in negotiations with several parties since late 2021 in order to bring value and a long-term future to the Company and its shareholders by way of a merger or acquisition.
The basis of the proposed transaction is for Argentum 47 Inc. to acquire 100% of The Data Source (UK) Limited (https://www.thedatasource.co.uk/) by way of management relinquishing their personal right, title and interest in (i) 40,000,000 shares of Argentum’s issued and outstanding Series “B” Preferred Stock, (ii) 4,378,888 shares of Argentum’s issued and outstanding Series “C” Preferred Stock and (iii) 21,500,000 shares of Argentum’s issued and outstanding Common Stock, which shares of Series B and C Preferred Stock and Common Stock constitute precisely 51% of the voting stock of Argentum on fully diluted and converted basis (“Control Block”). Additional shares of Argentum 47, Inc. Common Stock will be issued to the TDS shareholders post-closing.
TDS is a data driven B2B and B2C solutions provider utilizing artificial intelligence with lead generation, automation, and analytics. TDS provides its clients with world class data with the aim of becoming a one-stop-shop for all things data. Reuters, Vodafone, Revolut, Honda and American Express are just a few of the companies they have worked with. The next stage of development for TDS is within North America, where they are already making inroads into the real estate and capital markets sectors, offering services including business intelligence and research, demographic, market data and public data. TDS is also examining several complimentary acquisitions in Europe and in the United States and sees the potential acquisitions as a defined path for the combined companies in the years to come; hence, TDS is poised to increase its organic revenue substantially in the coming 12 months.
Management of Argentum 47, Inc. expects to close the acquisition of The Data Source (UK) Limited in April 2022.
Mr. Peter Smith, sole Director of Argentum 47, Inc., said: “This has been a long road for us at Argentum and I know it has been a long road for many of our shareholders too. This agreement with TDS is a major milestone for the Company and all of its shareholders, as the agreement sees TDS become the controlling element of the Company with a new and exciting direction. TDS has many blue chip clients and a phenomenal amount of activity within the artificial intelligence sector. They are a well managed company with a seasoned board of high profile people. We have been very impressed with TDS from the outset and look forward to supporting them through this exciting transaction.”
About Argentum 47, Inc. and Subsidiaries.
Argentum 47, Inc. (“Argentum”) is a full service Financial Intermediary, Corporate Consultancy, Retail and Corporate Financial Services Company. Through its wholly-owned foreign subsidiaries, it advises both business and retail customers with their most critical decisions and opportunities pertaining to growth, capital needs, structure and the development of their financial plans. With offices in the United Kingdom, Argentum has developed significant relationships in the U.S., U.K., Central Europe, the Middle East and South East Asia to assist clients in realizing their full value and potential. Bringing business to external capital and resources, and retail customers to a suite of secure effective financial solutions. Furthermore, as Argentum has offices in key financial centers of the world, they are able to introduce their clients to the right financial partner without geographical constraints.
Safe Harbor Statement
This press release may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to anticipated revenues, expenses, earnings, operating cash flows, the outlook for markets and the demand for products. Forward-looking statements are no guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statements. Such statements are based upon, among other things, assumptions made by, and information currently available to, management, including management’s own knowledge and assessment of the Company’s industry and competition. The Company refers interested persons to its most recent Annual Disclosure and other disclosure documents uploaded to OTC Markets for a description of additional uncertainties and factors, which may affect forward-looking statements. The Company assumes no duty to update its forward-looking statements.
Mr. Peter Smith
Sole Director of Argentum 47, Inc.
Tel. + (44) 1482 289 591