Renavotio, Inc. (RIII)
Provides Shareholder Update and 2021 Outlook
Tulsa, OK -- January 19, 2021 --
InvestorsHub NewsWire -- Renavotio, Inc. (OTCQB:
RIII), ("Renavotio," or the "Company") today announced a
shareholder update discussing its business operations and the
Company's outlook for 2021.
Renavotio believes
that President-Elect Biden's proposed $1.9 trillion economic
stimulus package will benefit state and local economies and
their infrastructure development and maintenance programs, which
proposes spending $350 billion on state, local and territorial
governments and making a $35 billion investment in some state,
local, tribal, and non-profit financing programs. Additionally, the
package provides proposed assistance for small businesses
of $15 billion to create a new grant program for small
business owners, separate from the existing Paycheck
Protection Program.
The stimulus package proposed funding of $350
billion into state and municipal coffers across the country
presents Renavotio with increased bidding opportunities for
Oklahoma infrastructure projects, which have been on hold due
to the pandemic, resulting in closed municipalities and delayed
funding. Utility Management Corp. has consolidated all of it
operations at the Ochelata, Oklahoma location, which has reduced
operating costs and eliminated duplicated facilities, insurance and
management costs.
Cross-Bo Construction has
identified and placed bids on 3 regional projects in excess of
$2 million dollars and award notification is expected in the
first quarter. Cross-Bo will continue to actively pursue the
municipal bid market. Utility Management Corp. (UMC) has added
two additional water districts to its Utility Management portfolio
and plans to double its managed water districts over the next 24
months with an aggressive campaign. UMC continues its push as a
smart water infrastructure provider by focusing on "smart"
infrastructure data systems and process automation for satellite
water system components. Renavotio Infratech has redirected
its PPE business to purchase programs with the manufacturers of
gloves, masks, gowns and PPE related products, to guarantee product
origination, quality, delivery and direct sales to the end users
while creating seamless transactions.
"We view this economic stimulus
package as very positive for Renavotio as we enter 2021. The
proposed financial measures for states and towns should spur
further infrastructure, water, and utility development projects and
upgrades, and Renavotio plans to capitalize on these new
opportunities as they develop. We plan to continue strengthening
our financial picture, growing operations by adding new customers
and geographies, and expect to benefit from the government
stimulus plan," said William "Billy" Robinson, CEO of
Renavotio.
ABOUT
RENAVOTIO, INC.
Renavotio's business focuses on three
unique infrastructure opportunities, including medical protective
equipment, 5G, utility construction, utility management, IoT,
water, waste management technology, and related industries.
www.renavotio.com
The Company's wholly owned subsidiary,
Renavotio Infratech, Inc. ("RII"), includes business and
acquisition strategies concentrating on medical protective
equipment and infrastructure with utility construction and
consulting/operational agreements with small towns or county CO-OPS
that operate their own water and sewer systems, providing long-term
savings, utilizing smart-utility monitoring, and dedicated
engineering and service personnel. These platforms capture utility
data from hand-held GPS devices or in-place sensors, with planned
use of drones to identify waste contamination, leak detection, and
topographic underground utility installation planning. RII's wholly
owned subsidiary, Utility Management Corp, is a holding company
focused on infrastructure, 5G, utility construction, utility
management, IoT, water and waste management technology, and related
industries. Utility Management Corp's subsidiary, Utility
Management and Construction (UMCCO) is an engineering and smart
utility management company that provides a one-stop solution to
rural communities to reduce the consumption of electricity, data,
natural gas, and water utilities for commercial, industrial and
municipal end users. UMCCO's unique approach creates
immediate bottom-line savings for its clients, by providing
engineering, planning, permitting and installation through their
second wholly owned subsidiary, Cross-Bo Construction, which
specializes in water, sewer, Telcom, and 5G design and
installation, establishing a long-term value proposition while also
achieving respective sustainability goals. www.umcco.com
CAUTIONARY STATEMENT REGARDING
FORWARD-LOOKING INFORMATION:
This news release includes certain
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities and Exchange Act of 1934, as amended. Forward-looking
statements are necessarily based upon a number of
estimates and assumptions that, while considered reasonable,
are subject to known and unknown risks, uncertainties, and other
factors may cause the actual results and future events to differ
materially from those expressed or implied by such forward-looking
statements. Such factors include general business, economic,
competitive, regulatory, capital markets, political and social
uncertainties. There can be no assurance
that such statements will prove to be accurate, as actual results
and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place
undue reliance on forward-looking statements.
No information in this news release should be construed as any
indication whatsoever of the Company's future stock price,
revenues, or results of operations. The
Company disclaims any intention or obligation to update or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by
law.
IR Contact:
Renavotio, Inc.
601 South Boulder Ave.
Suite 600
Tulsa, OK 74119
Email Contact:brobinson@renavotio.com
Telephone:
1-888-928-1312
Skyline Corporate Communications Group, LLC
Lisa Gray, Senior Account Manager
One Rockefeller Plaza, 11th Floor
New York, NY 10020
Office: (646) 893-5835
Email: lisa@skylineccg.com
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