Fleet and Mobile Car Wash Acquisition Progresses with Signing of Binding Term Sheet Between Bayport International Holdings
January 15 2019 - 6:26AM
InvestorsHub NewsWire
Fleet and Mobile Car Wash Acquisition Progresses with the Signing
of a Binding Term Sheet Between Bayport International Holdings and
360 EcoWash
Colorado Springs, CO -- January 15, 2019 -- Investorshub NewsWire
-- Bayport International Holdings, Inc. (“the Company” or
“Bayport”), a holding company, is pleased to announce its progress
with the acquisition of the “Green” fleet mobile car wash company
360 Eco Car Wash, Inc. The Binding Term Sheet has been executed
between Bayport and 360 EcoWash. The executed term sheet shall be a
part of the final definitive agreement between the two
companies.
360 Eco Wash is a California mobile car wash service inspired by
the growing demand for fleet service support. It is a California
based business established in 2017 to support a 170 vehicle courier
service in San Francisco, San Jose, and Sacramento. The
business uses steam based technology to clean exterior and interior
part of the vehicle. More information about the company can be
viewed at the company’s website. www.360ecowash.com
Clay Franks, CEO of Bayport, stated, “We are very pleased to
have the Binding Term Sheet executed. The Term Sheet is the most
difficult negotiation of any acquisition and we now have this
critical component agreed upon by both parties. We anticipate
getting the definitive agreement completed soon and then we can get
started on growing this amazing business as quickly as possible. In
this new age of phone apps driving new businesses it is still
exciting to see the effects of an everyday business like washing
cars combined with an Uber type App. Fleet vehicles, car lots, and
everyday people will be able to use our environmentally friendly
mobile car wash service. We plan to roll this out very quickly so
these are very exciting times for Bayport and its
shareholders.”
Mr. Franks continued, “We are working to get current on OTC
Markets and hope to be current information as soon as the end of
next week. We are also working to get all the company websites
updated and back online. ”
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About Bayport International Holdings, Inc. (OTC PINK: BAYP):
Bayport International Holdings, Inc. is a holding company
actively engaging acquisition targets with growth
potential.
Safe Harbor
This release contains statements that constitute forward-looking
statements 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. These statements appear in a number of places
in this release and include all statements that are not statements
of historical fact regarding the intent, belief or current
expectations of Bayport International Holdings, its directors or
its officers with respect to, among other things: (i) financing
plans; (ii) trends affecting its financial condition or results of
operations; (iii) growth strategy and operating strategy. The words
"may," "would," "will," "expect," "estimate," "can," "believe,"
"potential" and similar expressions and variations thereof are
intended to identify forward-looking statements. Investors are
cautioned that any such forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties, many of which are beyond Bayport International
Holding's ability to control, and that actual results may differ
materially from those projected in the forward-looking statements
as a result of various factors. More information about the
potential factors that could affect the business and financial
results is and will be included in Bayport International Holding's
filings with the Securities and Exchange Commission.
Bayport International Holdings, Inc.985 Pico PointColorado Springs, CO 80905Phone: 719-306-0005www.baypcanna.cominfo@bayportholdings.com Investor Relations Contact:Spotlight GrowthMatt Regomrego@spotlightgrowth.com
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