TraQiQ announces strategic shift towards Environmental Services. Signs Non-Binding Letter of Intent for Platform Acquisition
Bellevue WA; March 24, 2023
TraQiQ, Inc. (OTC QB: TRIQ) (the “Company” ), announced today that the Company intends to shift its focus to alternative environmental services going forward. The Company also announced that it has executed a non-binding letter of intent to acquire a platform environmental services company as its first step toward its future business model. The target acquisition had run-rate revenues of approximately $5,000,000 in in 2022 and will bring a well-seasoned industry management team who will remain with the Company to lead its future endeavors. The Company anticipates closing in Q2 2023.
TraQiQ’s statements related to the proposed acquisition contain forward-looking plans. The letter of intent is a non-binding agreement and there can be no assurance that a binding agreement will be reached for the proposed acquisition, that the conditions to closing of the proposed acquisition will be satisfied, that the proposed acquisition will be completed or the timing of the any of the foregoing. Actual operating results of the target company could differ materially from past results.
About TraQiQ, Inc.
TraQiQ, Inc. is a technology enabled Environmental Services company. The Company currently provides solutions for food waste processing. This includes onsite Digestors for food waste processing along with cloud-based software tracking and analytics solutions. The Company is continuing to focus on its energy on long term sustainability and the environmental services industry.
For more information visit https://www.RecoupEnv.com/.
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Cautionary Note Regarding Forward-Looking Statements
Statements contained herein that are not based upon current or historical fact are forward-looking in nature and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect the Company’s expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. The potential risks and uncertainties include, among others, the risks listed in the Company’s most recent annual report on Form 10-K and other documents filed by the Company with the Securities and Exchange Commission. These statements are based upon the current beliefs and expectations of the Company’s management and are subject to significant risks and uncertainties, including those detailed in the Company’s filings with the Securities and Exchange Commission. Actual results, performance, prospects, and opportunities to may differ materially from those set forth in, or implied by, the forward-looking statements.
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SOURCE TraQiQ, Inc.