Andiamo Corp. (OTCPK: ANDI) Signs Letter of Intent to Acquire Telecom Holding Company

TORONTO, March 13, 2018 /PRNewswire/ -- Andiamo Corp. (OTCPK: ANDI), together with its wholly-owned subsidiary Utopya Innovations Inc. ("Utopya"), announces today that it has signed a Letter of Intent to acquire a telecom holding company CLEC Holding, Inc. ("CLEC Holding") in an all-stock transaction, as part of a strategic plan for growth and diversification.

The Wyoming-based CLEC Holding is currently in talks to acquire several Competitive Local Exchange Carrier companies ("CLECs") that are all revenue-producing and in growth mode.

"We are in talks with multiple acquisition targets, as well as funding sources. We will seek to secure up to $15 Million in funding directly to CLEC Holding, with no dilution to ANDI or its shareholders. We hope to announce our first acquisition in the next 10 days. The additional acquisitions are still in early-stage discussions but do seem very promising, and are aligned with our long-term vision for CLEC Holding, which is to acquire telecom and telecom-related companies when it is strategically viable to do so, in order to expand our network capabilities and grow. For obvious reasons, there are clear synergies between CLEC Holding and Utopya, and our intent is to offer Utopya products to CLEC Holding's customers," stated Justin Su, President of CLEC Holding. 

Mike Starkweather, President of Andiamo Corp., remarked, "We are thrilled to execute this Letter of Intent with Mr. Su and we look forward to working with the entire CLEC Holding team. This deal is a strategic stepping stone for both companies, and one that we hope will prove very fruitful for all parties involved."

Safe Harbor Act: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements to reflect events or circumstances that may arise after the date of this release.

CONTACT: 

Utopya Investor Relations 
[email protected]  
1-(833)-UTOPYAN or 1-(833)-886-7926

SOURCE Andiamo Corp.