Acquired Sales Corp. (AQSP: OTCQB) | Acquired Sales Corp. Plans to Acquire PPV, Inc. and Bravo Environmental NW, Inc., and to Change Its Name to Growth Partners, Inc.

Acquired Sales Corp. Plans to Acquire PPV, Inc. and Bravo Environmental NW, Inc., and to Change Its Name to Growth Partners, Inc.

Dec 02, 2014

OTC Disclosure News Service

Acquired Sales Corp. (OTCQB: AQSP) today
announced that it has signed a letter of intent to acquire PPV, Inc.,
Portland, Oregon, and its wholly-owned subsidiary Bravo Environmental
NW, Inc., Tukwila, Washington. The proposed merger, which can only be
closed upon the parties meeting several conditions, has an estimated
value of approximately $18 million, of which $7.5 million is to be paid
in cash, and the balance in shares of common stock of Acquired Sales.
Simultaneous with the proposed merger, Acquired Sales intends to change
its name to Growth Partners, Inc.

PPV provides pretreatment of industrial and commercial wastewater and
sludge, while its subsidiary Bravo provides vacuum trucks,
infrastructure maintenance and inspection, and other services, to a wide
variety of municipal, industrial and commercial customers in the Pacific
Northwest. The management teams of PPV and Bravo will continue to lead
their respective companies following the merger.

Closing of the merger is subject to a number of conditions, including
the completion of mutually acceptable due diligence, delivery of audited
financial statements, completion of a capital raise of at least $15
million, execution of definitive merger documents, obtaining necessary
third party approvals, and completion of all necessary securities
filings.

Gerard M. Jacobs, the Chairman and CEO of Acquired Sales, said, “PPV and
Bravo are profitable and growing companies with tremendous reputations,
and difficult-to-replicate industry expertise, equipment and permits. We
look forward to working with Jim and Joe Thuney as our lead partners in
this division of Acquired Sales.”

James Thuney, the Chief Executive Officer of PPV, and Joseph Thuney, the
founder and President of PPV, said, “We have developed a strategy for
PPV and Bravo to grow rapidly over the next few years, by expanding both
organically and via selected acquisitions. After carefully considering
the various options that are available to provide the additional capital
and human resources needed to execute this strategy, we have concluded
that partnering with Acquired Sales is the right move for us. We are
excited about our prospects.”

About PPV, Inc. and Bravo Environmental NW, Inc.

PPV, Inc., Portland, Oregon, was founded in 2002 by Joseph Thuney, PPV’s
President, who formerly worked at Spencer Environmental and at Waste
Management. James Thuney joined PPV as CEO in 2011, bringing over 50
years of experience in logging, construction, land development and
manufacturing industries, and in investing in publicly traded and
privately held businesses. PPV’s wholly-owned subsidiary Bravo
Environmental NW, Inc., was founded in 1997 by Al Schumacher, Bravo’s
President, who was formerly an Alaskan commercial fisherman.

About Acquired Sales Corp.

Acquired Sales Corp., Lake Forest, Illinois, is a publicly traded
corporation controlled by Gerard M. Jacobs, its Chairman and CEO.
Previously, Mr. Jacobs co-founded and served as the CEO of two publicly
traded companies, Metal Management, Inc. (now part of Sims Metal
Management Limited, the world’s largest metal recycler) and Think
Partnership Inc. (now called Inuvo, Inc.), and also served as a director
of publicly traded Crown Group Inc. (now called America’s Car-Mart,
Inc.) and Patient Home Monitoring Corp. Mr. Jacobs has also had
extensive project development, finance, and investing experience in the
solid waste industry, including transactions involving USA Waste
Services and Mid-American Waste Systems (both now part of Waste
Management) and Environmental Waste Funding Corp.

Cautionary Note Regarding Forward-Looking Statements

Certain statements in this document are “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act of
1995. Such information includes, without limitation, the business
outlook, growth strategies, future plans, contingencies and contemplated
transactions of the companies. Such forward-looking statements are not
guarantees of future performance and are subject to known and unknown
risks, uncertainties and other factors which may cause or contribute to
actual results of these companies’ operations, or the performance or
achievements of these companies or industry results, to differ
materially from those expressed, or implied by the forward-looking
statements. In addition to any such risks, uncertainties and other
factors discussed elsewhere herein, risks, uncertainties and other
factors that could cause or contribute to actual results differing
materially from those expressed or implied for the forward- looking
statements include, but are not limited to: large competitors; lack of
brand awareness; balance sheet weakness and need for additional capital;
potential for dilution; lack of a meaningful public market for our
stock; uncertain economic conditions; risks and limitations associated
with real estate, equipment, personnel, permits, contracts and bonding;
and risks associated with protection of intellectual property. Acquired
Sales Corp. undertakes no obligation to publicly update any
forward-looking statements, whether as a result of new information,
future events or otherwise. Actual results, performance or achievements
could differ materially from those anticipated in such forward-looking
statements as a result of certain factors, including those set forth in
Acquired Sales Corp.’s filings with the Securities and Exchange
Commission.

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The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

Article source: http://www.otcmarkets.com/stock/AQSP/news?id=92826

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