Renavotio
Provides Financial and Operational
Updates
Engages
Leading Investment Bank to Assist With Its Growth Strategy
and Corporate Development Initiatives
Tulsa, OK, June 21, 2021
-- InvestorsHub NewsWire -- Renavotio, Inc. (OTCQB:
RIII) (the "Company"), a holding company focused on
infrastructure opportunities, including personal protective
equipment, 5G, utility construction, utility management, IoT,
water, waste management technology, and related industries, is
pleased to provide the following operational and financial
update.
Billy Robinson, Renavotio's Chief Executive Officer, commented, "I'm proud to
report that we have paid off over $900,000 year to date in both
short-term and variable-rate convertible debt using restricted
equity, with approximately $300,000 of variable-rate convertible
debt currently outstanding. We are planning to eliminate the
remainder of this debt by the end of August 2021 in structured
monthly payments. Moving from this debt to a restricted equity
investment was necessary to protect our investors and shareholders
with a structure that allows the Company to better control the
timing, dilution, and pricing as we continue to finance the
business and our planned growth
opportunities."
"As Renavotio enters its
next phase in its planned expansion, we are pleased to have engaged
a leading investment bank to provide us with strategic advisory and
investment banking services. We believe that this relationship will
help expedite our growth plans and allow us to thoughtfully
navigate and close the incoming deal flow. In addition, our goal is
to up-list to a national securities exchange to enhance our
visibility in the marketplace, increase the liquidity of our stock,
and build long-term shareholder value."
"We are also happy to see
the possible progress being made should the Biden administration's
Infrastructure Bill come to a final agreement. This would signal
investments in much-needed infrastructure for communities across
the U.S. We are optimistic that increased funding could flow to the
states we operate in at some point over the next 12 to 24 months,
which will help fuel our organic growth initiatives. At the same
time, as the competitive landscape takes shape in these states, we
anticipate considerable acquisition opportunities of accretive
business targets."
"We will continue to
prepare ourselves and the Company for the next level, with
accretive acquisitions and a focus on organic growth. I'm grateful
to our investors, who believe in what we are trying to build at
Renavotio, and their continued support," concluded Mr.
Robinson.
About Renavotio,
Inc.
Renavotio, Inc. (OTCQB:
RIII) focuses on three unique infrastructure opportunities,
including medical protective equipment, 5G, utility construction,
utility management, IoT, water, waste management technology, and
related industries.
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
For additional information
on Renavotio, please click: www.renavotio.com
Forward Looking
Statement
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, including, but
not limited to, statements relating to our ability to pay off our
debt, our growth plans, our ability to list our securities on a
national securities exchange and our acquisition plans.
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, markets and other conditions, 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.
Investor
Contacts:
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
Matthew Abenante, IRC, Senior Account Manager
One Rockefeller Plaza,
11th Floor
New York, NY 10020
Office: 646-893-5835
Email: mabenante@skylineccg.com
Renavotio (CE) (USOTC:RIII)
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