LAS VEGAS, May 24, 2024 (GLOBE NEWSWIRE) -- via IBN -- Golden Triangle Ventures, Inc. (OTC PINK: GTVH) (“GTV” or the “Company”) is pleased to announce the execution of a Letter of Intent (or “LOI”) with TK Zarro, LLC, GTV’s primary note holder, for the acquisition of Cargo Management Group, a complete shipping, logistics and trucking operation that aims to support its Entertainment Division business model, operating under Lavish Entertainment. The Company is in the process of finalizing the acquisition, facilitating the company’s assumption of full ownership of the logistics operation, brokerage business, licenses and all associated assets. This milestone underscores GTV’s strategic expansion efforts, positioning the company for fundamental business income and financial independence.
Cargo Management Group achieved close to $3 million in top-line revenue in 2023 and presently maintains contracts with prominent corporations including JB Hunt, CH Robinson, Coyote Logistics and Echo Logistics. As the Company progresses in finalizing the structure and transition strategy of integrating this shipping and logistics operation into GTV, management is concurrently crafting a comprehensive business plan aimed at substantially expanding the company’s growth trajectory. This includes incorporating all types of trucking freight movements and adding Heavy Haul to the mix. Additionally, Cargo Management Group currently holds high paying specialized loads in the gaming industry that transport slot machines to locations nationwide.
Lavish Entertainment has disclosed its plan to build a comprehensive four-pillar business model which aims to develop and acquire operations in logistics, staffing, equipment and production. This strategic framework is a critical component in advancing Lavish Entertainment’s mission to create an industry leading entertainment business while also supporting the complete development and operation of its flagship project, Destino Ranch (www.DestinoRanch.com). With a clear path set to delivering the first pillar of Lavish’s business model, the Company is pleased to secure this Letter of Intent with TK Zarro, LLC, strengthening the ongoing support in Golden Triangle Ventures and its operations within the Company.
Tom Zarro, current owner of Cargo Management Group and GTV’s largest note holder, states: “The acquisition of Cargo Management Group and its operations provides GTVH with a solid income stream to support its ambitions. The trucking and freight brokerage industry, being recession-proof, scalable and profitable, perfectly aligns with their goal. With the expertise of the GTVH team, I have no doubt they will significantly expand this enterprise far beyond my current capabilities, given my time constraints. Entrusting a reliable business partner to manage the company I built will allow me to focus on new ventures. As a major investor in GTVH, I remain committed to supporting all their endeavors that enhance shareholder value.”
Steffan Dalsgaard, CEO of Golden Triangle Ventures, states: “We are dedicated to transforming GTV into a strategic enterprise with operations that support all our divisions. This planned acquisition is designed to provide genuine cash flow through a scalable business model, supporting both Lavish Entertainment and the development and operation of our Destino Ranch project. With a clear strategy to implement the first of our four-pillar business model, our next immediate focus is to address our capital debt structure with TK Zarro and finalize this opportunity to deliver strong shareholder value.”
Golden Triangle Ventures, Inc. or “GTV” is a multifaceted consulting Company, which operates as the parent business pursuing ventures in the health, entertainment and technology sectors, along with others that provide synergistic value to these three core divisions. The Company aims to purchase, acquire and/or joint venture with established entities within these areas of business. The goods and services represented are driven by innovators who have passion and commitment in these marketplaces. The Company plans to utilize relationships and create a platform for new and existing businesses to strengthen their products and/or services. The three points of the Golden Triangle exclusively represent the three sectors in which this Company aims to do business. Golden Triangle Ventures is highly focused on acquiring a well-diversified portfolio of companies under one umbrella, which are all managed and owned by the Company. An amazing team of professionals support each division and continue to help the Company grow daily. Being a publicly traded Company gives the ability to provide the support needed to help each subsidiary grow into the business that management believes it can and will become.
Golden Triangle Ventures’ business model is supported by the drive for vertical integration to cut costs and maximize margins. Management strives to acquire entities and assets that they fully understand, which maintain the prospect for long-term exponential growth. The mission is to provide the necessary resources for each subsidiary to generate profit, and then allow them to leverage each other and maximize economic impact. In addition, GTV provides a professional corporate representation service to different companies in these sectors while consulting on a variety of different business development objectives.
The backbone of this business is truly a team of professional advisors looking to help companies with a multitude of corporate objectives. With an extensive Rolodex of relationships, management can help with a dynamic range of project obstacles while maintaining a quality service for each client the Company represents. No matter what the needs are, the team involved can help facilitate many different transactions successfully for all parties involved. The network of relationships expands to industry experts who can assist with project management, product sourcing, industrial agriculture project implementation and so much more. Golden Triangle Ventures develops strategies and detailed plans that are custom-tailored to each corporate need and objective in all areas of business.
The GTV business model is focused on the following core group of interests:
Acquisitions / Assets / Holdings - The Company currently owns a unique portfolio of companies that are all being developed and supported by GTV, each holding a common goal of making a positive impact in the industry in which they operate.
Services - Services are deployed through Golden Triangle Ventures to assist all the unique opportunities within its operation. The Company also offers its services to select opportunities that could develop synergistic value within the relationship between both companies through the result of its efforts.
Investments - Management identifies high-value opportunities and provides capital investments in several companies and projects being developed. Each investment is complemented by a hands-on approach of helping to develop the overall direction and strategic plan for each opportunity.
Lavish Entertainment, Inc. is a wholly owned subsidiary of Golden Triangle Ventures operating under its Entertainment Division. Currently conducting its business out of Las Vegas, Nevada, the Company started doing business in 2017 and was established with a vision of becoming nationally recognized in concert production. The Company currently has more than 30,000 national followers and nearly 100 team members who have helped Lavish successfully organize some of the most exciting electronic dance music concerts in Las Vegas. Lavish Entertainment strives to produce high-quality and professional events that provide an immersive experience through state-of-the-art production and sound implementation.
Lavish Entertainment is currently developing a flagship entertainment complex called Destino Ranch, which intends to become an ideal outdoor music and festival venue, immersive art installation, tourist attraction and world-renowned destination center. The Company recently secured a purchase agreement to acquire nearly 70 acres of prime and improved land for its Destino Ranch project, which is strategically located in Arizona. The property has upgrades that represent a substantial investment totaling nearly $6 million, which has turned this once vacant land into a beautiful oasis that provides the initial infrastructure needed to begin the development of Destino Ranch.
Lavish Entertainment has completed a full acquisition of ABI Create (or “ABI”), a premier event management and production firm, which is managing the development of its Destino Ranch project. Founded in 2015 by Marco Antonio Moreno (recently appointed as the new president and COO of Lavish Entertainment), ABI Create has delivered high-quality productions for a range of large-scale installations at major music festivals, sporting events and conventions across the United States. Notable projects include collaborations with the NFL Super Bowl, San Diego and New York Comic Con, EDC and Camp EDC, Bonnaroo Music Festival, the Waste Management Phoenix Open, Arnold Palmer Invitational, Burning Man, and many more.
Forward-Looking Statements
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; (vii) renewal of the Company's current customer, supplier and other material agreements; and (viii) future liquidity, working capital and capital requirements. Forward-looking statements are provided to give potential investors the opportunity to understand management's beliefs and opinions in respect to the future so 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 results 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 nonpublic information. In this regard, investors and others should note that we announce material financial information on our Company website, www.GoldenTriangleInc.com, in addition to SEC filings, press releases, public conference calls and webcasts. We also use 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, in light of the SEC's guidance, we encourage investors, the media and others interested in our Company to review the information we post on the following U.S. social media channels:
