NEW YORK, NY / ACCESSWIRE / March 1, 2024 / Samsara Luggage Inc. (OTC Pink:SAML) is a Mergers and Acquisitions company focused on acquiring and growing companies in the public safety sectors. As previously reported, Ilustrato Pictures International Inc. (OTC: ILUS) acquired the controlling interest in the company on January 5, 2024, and changed the business direction of SAML from luggage manufacturing and distribution towards the public safety sector. SAML has already filed a corporate action for its name change to Emergency Response Technologies Inc. and preferred trading symbol, RESQ.
On February 23, 2024, SAML signed a Stock Purchase Agreement with ILUS to acquire its existing public safety focused companies for an aggregate purchase price of 350,000,000 shares of common stock issued as 350,000 shares of Series B stock in SAML. Through completion of the transaction, SAML acquired all the equity interests in seven companies owned by ILUS:
- Firebug Mechanical Equipment LLC
- Georgia Fire & Rescue Supply LLC
- Bright Concept Detection and Protection System LLC
- Bull Head Products Inc
- E-Raptor
- The Vehicle Converters
- AL Shola Al Modea Safety and Security LLC, the only entity in which ILUS holds 51% of the membership interests.
As the Emergency Response Technologies "ERT" subsidiary of ILUS, currently trading as OTC: SAML, the company is currently executing an aggressive growth plan which includes the expansion of its existing companies and planned completion of four further new acquisitions, two of which it intends to close later in the first quarter or early in the second quarter.
SAML's management are passionately focused on acquiring and building businesses which protect assets and deliver lifesaving technology. ILUS originally acquired and incorporated the seven companies which have been acquired by SAML with the same vision of delivering effective technology in all sectors of the emergency response lifecycle. The group of companies collectively provide groundbreaking patented technology and solutions to improve the efficiency of fighting fires, providing rapid response capability to emergency incidents, and delivering industry leading rescue and safety technology which is backed by in-house manufacturing and distribution capability in the United States, Middle East, and Europe.
SAML aims to build on the foundation laid by its parent company and more aggressively roll out the same model of acquiring global manufacturing, distribution, and technology advancements in the public safety sector. The global public safety and security market surpassed $433 billion in 2022 and is poised to increase at a CAGR of 10.3% up to $707 billion by the end of 2027. SAML is well positioned with funding available to expand its current businesses and bring in further innovative and disruptive technology with the goal of developing the company into a global public safety powerhouse. SAML aims to exceed $20 million in 2024 revenue from its current group of companies and $50 million with the addition of agreed acquisitions and those currently in negotiation.
Following signing of a Letter of Intent, SAML is currently finalizing the Stock Purchase Agreement for the acquisition of a British Manufacturer of Autonomous Vehicles which supplies its revolutionary technology to the defense and security sectors. The current technology will be supplementarily developed to enable remote unmanned autonomous firefighting capabilities.
Although ILUS had previously engaged in the acquisition of a Virtual Reality (VR) Training software business, there were some critical upgrades to the software that needed to be completed before it was satisfied to complete the acquisition and scale the business globally. SAML is currently working with the VR software company to conduct user testing before completing the acquisition and rolling out the software through an established network of distributors. A signed Letter of Intent is in place and Stock Purchase Agreement is ready for signing following the completion of satisfactory user testing.
SAML will re-energize the progress and groundwork already laid in Serbia by the ILUS team during 2022 and 2023, where substantial Government support is on offer. Unfortunately, ILUS found difficult to maximize this opportunity fully due to funding constraints and SAML will now accelerate progress at the current E-Raptor manufacturing facility outside Belgrade, where further design and development is underway to make the product suitable for mainstream industrial and utility use. E-Raptor is currently making upgrades at the Serbian facility to three newly assembled units before delivery to a local municipality. Based on demand from within the region and FireBug's rapid intervention vehicle customers in the Middle East, the company is preparing a production line capable of shipping 50 units in the third and fourth quarters of 2024. E-Raptor is currently exploring the acquisition of a commercial utility EV manufacturer in Southern Europe. The manufacturer has existing manufacturing contracts in place and is currently producing 150 electric utility vehicles per year. Following SAML management's visit to the facility, a Letter of Intent is currently being negotiated.
In further acquisition developments, SAML is currently structuring the acquisition of a significant Wildfire business with operations in Europe, USA, South America, and Asia, and aims to proactively expand its wildfire technology offering and operations globally. Furthermore, SAML is negotiating and intends to close the acquisition of a US headquartered manufacturer and distributor of firefighting vehicles and ambulances with over $54 million in annual revenue. This acquisition, which is expected to be completed through a combination of cash and restricted stock, will form the cornerstone of SAML's intended uplist to a major stock exchange.
"Our ERT business, which is overflowing with potential to be scaled globally previously experienced constraints in executing its growth plans within ILUS. Under SAML, it's expected that capital can freed up for ERT to grow and realize its true value for Shareholders who like us, are passionate to be involved in and driving forward a company which is actively delivering solutions that are increasingly making communities around the world safer." Said SAML CEO, John-Paul Backwell.
Further plans under SAML include obtaining global certifications for FireBug's long-awaited commercial kitchen firefighting systems and fixed fire systems which utilize patented water mist technology and are in a class of their own. In addition to the certifications, the systems require dedicated resources for sales and marketing. It is expected that under SAML, FireBug will be able to execute its go to market strategy for its fixed firefighting systems far sooner. In addition, SAML is in the process of merging the operations of its two Dubai based fire protection companies, BCD Fire and Al Shola Safety & Security. The sharing of resources and manpower will allow the companies to obtain the highest available A license for fire system installation and maintenance and consequently meet local requirements to bid for much larger projects in the United Arab Emirates as well as Saudi Arabia.
SAML has nearly 100 team members in its operating businesses and is in the process of strengthening its dedicated management team which already includes emergency response industry expert and veteran, Dan Peters, who serves as President of the company. The company will soon be adding another industry specialist as an independent board member to advise in taking the business to the next level. SAML is thrilled to be in a position to leapfrog from the solid foundations laid by ILUS and rapidly increase its growth trajectory.
"We established and built a solid group of Emergency Response businesses under ILUS, and we are now thrilled to be in a position to expand the business more aggressively. We are already engaging with investment banks with the view of up listing ERT to a major stock exchange in late 2024 through a reverse merger or organic listing, following completion of our first business combination agreement and resultant uplist. We expect to complete a large acquisition during the process of an ERT uplisting with the acquisition acting as a catalyst for the uplisting." Added SAML Chairman, Nicolas Link.
SAML Shareholders are urged to keep an eye on the company's ERT website and ERT Twitter account, the details of which are listed below:
Websites: https://ert-international.com
Twitter: @ERT_ILUS
Email: info@ert-international.com
Source: SAML
Related Links: https://ert-international.com
Forward-Looking Statement
Certain information set forth in this press release contains "forward-looking information", including "future-oriented financial information" and "financial outlook", under applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, the information contained herein constitutes forward-looking statements and includes, but is not limited to, the (i) projected financial performance of the Company; (ii) completion of, and the use of proceeds from, the sale of the shares being offered hereunder; (iii) the expected development of the Company's business, projects, and joint ventures; (iv) execution of the Company's vision and growth strategy, including with respect to future M&A activity and global growth; (v) sources and availability of third-party financing for the Company's projects; (vi) completion of the Company's projects that are currently underway, in development or otherwise under consideration; (vi) renewal of the Company's current customer, supplier and other material agreements; and (vii) future liquidity, working capital, and capital requirements. Forward-looking statements are provided to allow potential investors the opportunity to understand management's beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements. Although forward-looking statements contained in this presentation are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements. The Securities and Exchange Commission ("SEC") has provided guidance to issuers regarding the use of social media to disclose material non-public information. In this regard, investors and others should note that we announce material financial information via official Press Releases, in addition to SEC filings, press releases, Questions & Answers sessions, public conference calls and webcasts also may take time from time to time. We use these channels as well as social media to communicate with the public about our company, our services, and other issues. It is possible that the information we post on social media could be deemed to be material information. Therefore, considering the SEC's guidance, we encourage investors, the media, and others interested in our company to review the information we post on the following social & media channels:
SOURCE: Samsara Luggage Inc.
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