Boca Raton, Florida--(Newsfile Corp. - October 6, 2021) - Puget Technologies, Inc. (OTC Pink: PUGE) ("Puget"), a publicly held Nevada corporation subject to reporting obligations pursuant to Sections 13 and 15(d) of the Securities Exchange Act of 1934, as amended, announces today that it has entered into an LOI to acquire a company in the real estate industry that will provide turnkey facilities for medical practitioners.
Care Suites LLC, incorporated in Delaware in 2019, intends to take an innovative approach to coworking - enabling medical practitioners to easily transition into individual practice by using CareSuitesTM facilities. CareSuites will offer doctors and other healthcare and wellness professionals the space, equipment, and support they need to start and grow a private practice without the overhead traditionally associated with independent facilities. CareSuites' space-as-a-service concept is a cost-effective alternative for healthcare professionals to expand their practices into otherwise inaccessible markets.
Lenny Osipov, Owner and CEO of CareSuites, elaborates, "Puget's association with large numbers of medical professionals will provide CareSuites with a fertile and expanding customer base that can benefit from its services. And by working with a publicly traded company, we will have access to the capital and resources we need to accelerate our growth."
Puget will leverage CareSuites' properties and infrastructure as it begins implementing its vision of a holistic and comprehensive health care delivery system that makes it easy for patients to access all the care providers that they need. In addition, Puget will benefit from additional revenue in locations used by medical professionals not affiliated with Puget's other portfolio companies. And, by working in collaboration with CareSuites to acquire and develop real estate properties through separate financing arrangements, Puget will work towards building a robust real estate division.
Karen Fordham, President and CEO of Puget Technologies, says, "We're thrilled to be working with Mr. Osipov and his talented team to deliver a much-needed solution to healthcare and wellness professionals." She continues, "The introduction of real estate, equipment leasing and ancillary professional support services to the Puget services portfolio will help us to diversify our business model and will create even more opportunities for our growing family of companies to attain industry leadership."
CareSuites has granted Puget an exclusive right until March 12, 2022 to negotiate specific acquisition terms and conduct required due diligence. As proposed, the acquisition would involve an exchange of CareSuites' securities for shares of Puget's Class B Convertible Preferred Stock, making CareSuites a wholly owned member of Puget's synergistic portfolio of companies. Despite the length of the exclusive negotiation period, Puget intends to close on the acquisition as quickly as possible.
For additional information, please contact Puget at 1-561-210-8535, by email at info@pugettechnologies.com or visit our website for continuing updates at http://www.pugettechnologies.com. To learn more about CareSuites, visit their website at http://www.caresuites.com.
About Puget Technologies, Inc.
Puget (pugettechnologies.com) aspires to evolve into an innovation-focused holding company operating through a group of subsidiaries and business units that work together to empower ground-breaking companies to reach their next stage of growth. With a strategy that combines acquisitions, strategic investment strategies, and operational support, Puget intends to provide a one-stop shop for growing companies who need access to both capital and growth resources, while enabling Puget and its stockholders to generate synergies and derive profit through pooled resources and shared goals. Puget's proposed investment focus ranges from traditional industries like health care that are ripe for business model innovation to new markets that strive to solve big societal problems such as climate change. Puget is publicly traded on the Pink Open Market under the ticker symbol "PUGE" and is headquartered in Boca Raton, Florida.
Forward-Looking Statements
Any statements made in this press release that are not statements of historical fact, including statements about Puget's beliefs and expectations, are forward-looking statements within the meaning of the federal securities laws, and should be evaluated as such. Forward-looking statements can be identified by the use of forward-looking terminology, including the terms "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "goal," "intend," "may," "objective," "plan," "potential," "predict," "projection," "should," "will" or, in each case, their negative, or other variations or comparable terminology. Puget bases these forward-looking statements or projections on its current expectations, plans and assumptions that it has made in light of its experience in the industry, as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances and at such time. As you read and consider this press release, you should understand that these statements are not guarantees of future performance or results. The forward-looking statements and projections are subject to and involve risks, uncertainties and assumptions and you should not place undue reliance on these forward-looking statements or projections. Although Puget believes that these forward-looking statements and projections are based on reasonable assumptions at the time they are made, you should be aware that many factors could affect Puget's actual results to differ materially from those expressed in the forward-looking statements and projections. Puget undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. If Puget does update one or more forward-looking statements, there should be no inference that it will make additional updates with respect to those or other forward-looking statements.
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