Mi Pulpe revenues exceeded $20 million in 2021
SPRING, TX / ACCESSWIRE / May 11, 2022 / Infrax Systems, Inc. (OTC PINK:IFXY) today announced that it recently entered into an Agreement and Plan of Merger to acquire Mi Pulpe LLC. Mi Pulpe is an US Distributor of food and beverage products catering to the Latin American segment and is expanding rapidly to other crossover market segments with new and exciting products.
Mr. Jose Pineda, President of IFXY, stated, "Mi Pulpe has experienced rapid growth and tremendous demand for its products over the six years of its existence. As a private company, Mi Pulpe exceeded $20 million dollars in revenue in 2021, and we are excited about our growth prospects going forward. We expect to double Mi Pulpe's revenue run rate in the next 12-18 months through new credit facilities and investments that we are working on now. We also have plans to add additional products to our current offerings, and we are positioned to capture an even bigger percentage of the estimated 900+ Billion food market in 2022 and beyond."
The acquisition is non-dilutive to current IFXY shareholders and will not require the issuance of any new stock. Infrax Systems, Inc. was one of two entities purchased by Krisa Management, LLC in 2021. Pursuant to the agreement, Krisa Management will give up 80% of its common and preferred stock to the current owners of Mi Pulpe, LLC. Mr. Pineda will serve as the company's President and Treasurer and will oversee the company's operations. Mr. Carey Cooley will stay on as CEO and Corporate Secretary and will handle public compliance issues for the company. The merger agreement is binding and is expected to close in July 2022.
Mr. Cooley stated, "This merger marks a huge turning point for IFXY shareholders. In 2021, we purchased this entity with hopes of bringing in a strong team with an aggressive growth mindset. Our goal from the beginning was to deliver the best opportunity we could find on the most favorable terms to shareholders. Having gotten acquainted with the new team over the past few months, I have no doubts that we made the right choice."
As previously announced by the Board of Directors, there are no current plans for a reverse split or increase in the number of authorized shares. Mi Pulpe is the first of several acquisitions we expect to complete for Infrax Systems Inc.
April 11th message from New President Jose Pineda:
https://twitter.com/Infraxinc/status/1513546487342538762?s=20&t=UWz22SoVtqkxdv4Ru4pMXg
About Infrax Systems, Inc.
Infrax Systems, Inc. is a brand incubator and accelerator. The company plans to build a portfolio of revenue-generating product brands to develop new sales channels and increase brand awareness and revenues.
About Mi Pulpe LLC.
MI PULPE is an US Distributor of food and beverage products catering to the Latin American segment and is expanding rapidly to other cross over market segments with new and exciting products.
Contact Information:
https://twitter.com/jpineda100
Shareholder/Investor inquiries for Infrax Systems, Inc.:
Infrax Systems, Inc.
1-888-204-4134
ir@infraxinc.com
Safe Harbor Statement: In addition to historical information, this press release may contain statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company's future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance, and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency and profitability, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company's business units or the market price of its common stock. Additional factors that would cause actual results to differ materially from those contemplated within this press release can also be found on the Company's website. The Company disclaims any responsibility to update any forward-looking statements.
SOURCE: Infrax Systems, Inc.
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