LAS VEGAS, May 24, 2024 (GLOBE NEWSWIRE) -- via IBN -- Golden Triangle Ventures, Inc. (OTC: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."
About Cargo Management Group: www.CargoManagementGroup.com
About Golden Triangle Ventures, Inc.
Golden Triangle Ventures, Inc. or "GTV" is a multifaceted consulting Company, which operates as the parent ...