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Two HandsCorporation, (CSE: TWOH) (OTC: TWOH) a Delaware company in the groceryand e-commerce sector, is pleased to announce the sale of itsgocart.city business, including its e-commerce site, branding, GroceryOriginals store, and inventory to a private buyer effective May 1,2023.
Under theterms of the Memorandum of Understanding (MOU), the buyer has acquiredthe assets of gocart.city. The sale includes the e-commerce site,branding, supporting components of the Grocery Originals store, andinventory. The ongoing sales and client base will also be transferredas part of the transaction.
Two Hands CEO, Nadav Elituv, commented, "Webelieve this transaction is in the best interest of our shareholdersand will allow us to focus on our core operations while reducing ourdebt by $134,700. We are confident in the buyer's ability tocontinue the growth and success of gocart.city."
As part of ourstrategic plan to refocus on core operations, Two Hands will bededicating resources towards its growing food service business. Thecompany has seen growth and opportunities in this sector, with anincrease in both the number of customers and sales. Two Hands has alsostrengthened relationships with strategic suppliers, resulting inbetter overall margins for the company.
"We are excited about the growth andopportunities in our food service business and are committed toinvesting in its continued success," added Elituv
ABOUT TWO HANDSCORPORATION
TwoHands Corporation, (OTC: TWOH) is a food distribution companyoperating under the Cuore Food Services brand. Please visit ourwebsite at www.twohandsgroup.com
This press releasecontains forward-looking statements that involve a number of risks anduncertainties. Any statement not regarding a historical fact is aforward-looking statement. Important factors that could cause actualresults to differ materially from those indicated by suchforward-looking statements include, but are not limited to, thecompany's ability to finance its planned expansion efforts; thecompany's ability to raise funds on acceptable terms; thecompany's ability to successfully adapt its business model andsuch other risks disclosed from time to time in the company'sreports filed with the securities and exchange commission includingthose on the company's annual report on form 10-K. The companydoes not intend to update any of the forward-looking statements afterthe date of this document to conform these statements to actualresults or to changes in management's expectations, except asrequired by law.
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