Simulated Environment Concepts, Inc. Announces Potential Merger With CMR Construction & Roofing
TL;DR
The merger with CMR positions Simulated as a diversified construction company, enhancing shareholder value and increasing revenues.
The merger aims to create a diversified construction company focusing on responsible risk management and providing practical solutions to global challenges.
The merger aims to make the world a better place by investing in and acquiring innovative construction businesses that prioritize responsible risk management.
CMR, one of the Top 10 roofing companies in the country, specializes in historic restoration work, complex commercial buildings, and specialty residential projects.
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Simulated Environment Concepts, Inc. (OTC: SMEV) and CMR Construction & Roofing LLC have executed a Letter of Intent (LOI) for a potential strategic business combination. This merger aims to establish a diversified construction company that will bolster shareholder value through investments and acquisitions in innovative construction businesses.
The proposed merger intends to enhance the business model by integrating increased revenues from ancillary verticals and offering a full array of home improvement services to existing customers. Both companies are confident that this merger will provide the necessary resources and strength to implement an ambitious growth strategy. This move marks a significant step in Simulated's evolution into a multi-faceted enterprise involved in construction, real estate financing, corporate spin-outs, industry consolidations, and early-stage financing, with CMR becoming the surviving entity.
“This strategic transition signifies a crucial juncture and opportunity for SMEV,” said Bryan Wilkinson, CEO of Simulated Environment Concepts. He expressed his admiration for CMR's successful execution and expansion since 2018, emphasizing its innovation and diversification.
The LOI outlines the principal terms of the proposed merger, which is expected to significantly increase SMEV's market capitalization. CMR has generated over $100 million annually since 2018 and is anticipated to maintain this revenue growth. The merger will bring substantial business acumen and management expertise to Simulated as CMR's team takes over SMEV.
Steven Soule, CEO of CMR Construction & Roofing, LLC, stated, “We’re looking forward to collaborating with Simulated and anticipate a successful merger. This transaction is important and integral to our Strategic Plan.”
CMR is recognized as America's 9th-largest roofing company, serving commercial, residential, and government clients nationwide. The company specializes in historic restoration work, complex commercial buildings, and specialty residential projects. With over 500 employees and rapid mobilization capabilities, CMR has established a reputation for completing challenging projects efficiently and with high quality.
Simulated's subsidiary, Nitro Holdings, LLC, focuses on aqua-culture farming and logistics, and the company plans to uplist to a new exchange by 2024. This merger is poised to significantly impact the construction industry by creating a robust entity capable of addressing global challenges with innovative solutions.
Curated from NewMediaWire
