ProConceptMarketing Group Inc on April 29, 2022, announced an update on the anticipated merger with Lelantos Holdings, Inc as well as a consulting contract with Golden Triangle Ventures, Inc (OTCMKTS:GTVH) for providing more insights into the corporate developments.
Market Reaction
On Friday, GTVH stock gained 9.61% at $0.0139 with more than 274K shares, compared to its average volume of 968K shares. The stock moved within a range of $0.0133 – 0.0144 after opening trade at $0.0144
ProConcept Marketing Group Announces Update on Its Anticipated Merger With Lelantos Holdings and Consulting Agreement With Golden Triangle Ventures
The partnership was developed for providing a mutually beneficial interest between both companies as well as to achieve the goal of increasing value for all stakeholders. Lelantos has been working towards a complete merger with ProConcept Marketing Group, Inc for becoming a publicly-traded company.
Lelantos Holdings had earlier announced a partnership and consulting contract with Golden Triangle Ventures, for repaying GTV its initial $500,000 investment in quarter one of 2022 and also giving a monthly retainer fee of $250,000 per month. However, some unexpected delays in launching a large-scale agricultural refining operation in Michigan, the commitment hasn’t yet been fulfilled. The Lelantos team will finish and honor the announced obligations post-development of Michigan refining operations.
Lelantos Holdings has made much progress during the year, with the operation receiving all the equipment, finishing the installation, and building the operation in obtaining the necessary certifications and approvals. The management team has made several strategic partnerships for complimenting its expansion plans. Earlier, Lelantos was retained for providing engineering services for the facility build-out, procurement, project development, employment as well as complete management.
Key Quote
Nathan Puente, president and CEO of Lelantos Holdings, stated, “We greatly appreciate the hard work and the significant investment of both money and time that GTV has put into assisting us to become a public entity. Without their guidance and help, we would not be as far along in the process that we are. The delays we have experienced have been completely unforeseen; however, we are diligently getting past these hurdles and expect to be fully operational in the very near future. I look forward to not only repaying the initial investment back to GTV as originally planned, but to also developing a longstanding and mutually beneficial relationship that lasts for many years to come.”
Traders Review
GTVH stock is trading below the 20-Day and 50-Day Moving averages of $0.0170 and $0.0192 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0440.
