NEW YORK, June 06, 2018 (GLOBE NEWSWIRE) -- Williamsville Sears Management Inc. (OTC Pink:WSML) (“WSML” or the “Company”) is pleased to announce that it has signed a Letter of Intent (the "LOI") for the acquisition of Buds Entertainment Inc., a Canadian Entertainment Group, in an all stock transaction subject to the approval by both companies of definitive documents and the achievement of certain other milestones.
The acquisition anticipated by the LOI is the result of a process initiated following WSML's strategic review announced a few months ago. If consummated, WSML will own 100% of the outstanding shares of Buds Entertainment Inc. The due diligence process will begin immediately. Buds Entertainment’s primary focus is in film and music production and the link below leads to their main hip hop artist’s music videos.
https://www.youtube.com/user/MitchellBaileyVEVO/videos
Kent Clark, Chairman & CEO of Williamsville Sears Management Inc., stated, “Today we announce Buds Entertainment Inc. joining the WSML portfolio. Mickey Freeman and his group join us with some of the best and hottest talent in the industry today. We wanted to appeal to a market group spanning across generational and diverse cultures globally. We felt that Buds Entertainment helped our diverse portfolio. We are constantly engaging prominent industry leaders and artists, bringing in the valuable resources and support we need for long-term success. We look forward, as a Team, to taking this great next step with Buds Entertainment Inc. and the WSML Family of Subsidiaries and our Shareholders.”
Mickey Freeman, President of Buds Entertainment Inc., stated, “This is an incredible and unique opportunity for Buds Entertainment and we would like to thank Williamsville Sears Management for their interest as they continue to grow their diversified portfolio. Our young team remains at the forefront of entertainment market trends and are inspired to deliver strong returns for all shareholders. This youthful energy will propel the team forward as we enter the next chapter with Williamsville.”
About Williamsville Sears Management Inc.
Williamsville Sears Management is a diversified holding corporation that was formed by Mandla J. Gwadiso. The group operates its own assets through a range of subsidiary companies under its purview. The group’s primary focus is in real estate, mining, media, transportation, entertainment and technology. The group uses vertical integration as a strategy of diversification and growth. The group plans to grow through acquisitions in Africa, United Kingdom and the United States.
Williamsville Sears Management actively seeks a select portfolio of high-calibre strategic subsidiaries which it acquires based on market trends and their ability to deliver strong returns to shareholders whilst enhancing the communities in which the investments are located. http://www.williamsville.us/
About Buds Entertainment Inc.
Buds Entertainment, incorporated in Nova Scotia, Canada, was founded by self-taught youth who aspire to make their mark in the entertainment industry despite being located in rural, economically depressed communities. Our diverse services include, but are not limited to, music, video production, audio engineering and production. Since inception our young team has participated in activities in Canada, the USA and Africa. As a result, our artists have established a reputation locally and globally for achieving distinguished success in their respective fields.
Forward-Looking Information:
Cautionary Note:
The statements in this press release constitute forward-looking statements within the meaning of federal securities laws. Such statements are based on our current beliefs and expectations and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, such forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Potential risks and uncertainties include, but are not limited to, technical advances in the industry as well as political and economic conditions present within the industry. We do not take any obligation to update any forward-looking statement to reflect events or developments after a forward-looking statement was made.
For more information:
Catherine Lourens
info@dumbopr.com