ALPHARETTA, GA / ACCESSWIRE / January 24, 2024 / Innovative Holdings Alliance, Inc. (OTC Markets:IHAI) (the "Company") is proud to announce that on January 18, 2024 (the "Closing"), the Company closed on its acquisition of all the assets of Premergy, Inc., a Georgia based technology development company focused on global battery power management and energy optimization ("Premergy").
Under the terms of an Asset Purchase Agreement dated December 30, 2023, following customary due diligence by both parties, the Company acquired 100% of the assets of Premergy, including its intellectual property, consisting of 20 patents covering battery recharging technology, in exchange for the issuance of 30,000,000 shares of the Company's common stock to Premergy shareholders, and the assumption of certain Premergy debts.
Per the terms of the acquisition, Richard Botts, Premergy's founder and inventor, became the Company's Chief Technology Officer and William Hayde was appointed Chief Executive Officer, following the resignation of M. Chris Winter.
"I am excited to join the team at IHAI, and to continue developing opportunities to showcase Premergy's technology. Together we are building momentum, and I look forward to growing our business," stated Richard Botts, the Company's Chief Technology Officer.
About Premergy, Inc.
Premergy, Inc. is a U.S. technology development company focused on global battery power management and energy optimization. Premergy's patent-protected electric vehicle battery management design and control systems address two key issues in the electric vehicle marketplace, vehicle range and battery thermal stress.
Website: www.premergy.com
Safe Harbor
This release may contain certain forward-looking statements regarding our prospective performance and strategies within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations of our company, are generally identified by use of words "anticipate," "believe," "estimate," "expect," "intend," "plan," "project," "seek," "strive," "try," or future or conditional verbs such as "could," "may," "should," "will," "would," or similar expressions. Our ability to predict results or the actual effects of our plans or strategies is inherently uncertain. Accordingly, actual results may differ materially from anticipated results. Some of the factors that could cause our actual results to differ from our expectations or beliefs include, without limitation, the risks discussed from time to time in our filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Except as required by applicable law or regulation, we undertake no obligation to update these forward-looking statements to reflect events or circumstances that occur after the date on which such statements were made.
Innovative Holdings Alliance, Inc.
2300 Lakeview Pkwy
Alpharetta, GA 30009
info@premergy.com
SOURCE: Innovative Holdings Alliance, Inc.
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