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PALM CITY, Fla., Dec. 07, 2015 (GLOBE NEWSWIRE) -- CPSM, Inc. (OTCPink:SWMM) (PINKSHEETS:SWMM) the Florida based pool & spa industry aggregator today announced it has signed a definitive agreement to acquire all the assets of Lighthouse Pool Supply Inc. and Sundook’s Advanced Pool Services LLC. Closing is scheduled for January 4, 2016.
CPSM has agreed to purchase the assets of Stuart, FL based Sundook’s Advanced Pool Services LLC and their sister company, Lighthouse Pool Supply Inc. for cash and stock. The total value of the transaction will not exceed $215,000. The final total will be determined post-closing following an audit of the customer accounts.
Lighthouse Pool Supply, Inc. was founded in 2008 and Sundook’s Advanced Pool Services LLC was formed in 2010. Both companies are managed by Gail M. Sundook and serve the Martin County, FL community. Lawrence Calarco, Chairman of CPSM, Inc. stated, “Lighthouse and Sundook are both solid, reputable companies. This acquisition is well timed as it will complement our move to the new headquarters location and infill some of the areas CPSM is not currently serving in Martin County. CPSM will be able to offer these new customers a broader range of services and products. This transaction will be an immediate benefit to all parties.”
CPSM, Inc. is a publicly held company serving the surging pool/spa maintenance, design, and construction industry in Florida.
Safe Harbor Statement: This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks described in statements filed from time to time with the Securities and Exchange Commission. All such forward-looking statements whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements that may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
CONTACT: Jeff Michel Director CPSM, Inc. Email : [email protected] www.cpsm-inc.com www.cpoolplastering.com www.custompoolmechanics.com
