LAS VEGAS, NV -- (Marketwired) -- 05/01/13 -- WGI Holdings, Inc. (OTC Pink: WGIH) wishes to announce that it has received an offer to be acquired by KBK Capital Corp. of Richard, Utah in a share exchange, whereby for every two thousand (2000) shares of WGI Holdings a present shareholder has they will receive in exchange one (1) share of KBK stock.
The Board of Directors of WGI Holdings has voted in favor of the takeover and the companies will be entering into a formal agreement in the near future.
Gregory C. Ellis, CEO of WGI Holdings Inc., commented:
"KBK Capital is very interested in getting into the cloud computing space and feels that MyBitCloud fits their criteria. Cloud computing is an attractive fast growing market with exciting cutting edge technology and an excellent management team. By joining with KBK Capital it will give WGIH increased opportunities to grow the business, quicker and more profitably."
"We think the valuation that KBK has put on WGI is fair at $0.0125 per share, better reflects the value that we have been building in WGI."
Matthew Richards, CEO of KBK Capital Corp.
"The acquisition will meet our return criteria and will be attractive to our top line growth. This investment represents the continuation of our strategy to increase KBK Capital presence in the fastest growing technologies of the world."
About WGI Holdings
WGI Holdings' goal through its operating subsidiary MyBitCloud is to become a leading provider of Personal & Business Cloud services that enable users and organizations to access ALL of their data, anytime, anywhere, and from any supported device.
MyBitCloud will enable users and organizations to have unlimited storage capability while also providing backup, synchronization, access and sharing capability of any file instantly and securely. More information can be found on our website: www.mybitcloud.com
This summary contains forward-looking statements within the meaning of the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995. These statements address future events and conditions concerning the Company's business plans. Such statements are based on management's current expectation and are subject to a number of factors and uncertainties, such as future economic conditions and changes in anticipated revenues and costs, which may cause actual results to differ materially. The Company expressively disclaims any future obligation or undertaking to update or revise any forward-looking statements contained herein. Investors and potential investors should independently investigate and fully understand all risks before making investment decisions.
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