CHICAGO--(BUSINESS WIRE)--JNS Holdings Corporation (OTC Markets Group: JNSH) is pleased to announce today after extensive negotiations that it has executed a Formal Letter of Intent with 350 Green, LLC to acquire certain assets which consists of the Chicago area Grant Agreement only.
Once the network is completed JNS will own and operate 201 Level II chargers and 73 Level III fast chargers within the Chicago market.
The acquisition enables JNS to enter this emerging sector within the electric vehicle charger industry in the third largest market in America. We are very pleased to have been able to reach this agreement and appreciate all the cooperation that 350 Green’s management has given as to reaching this LOI.
Both companies will now move forward expeditiously to a contract and closing, during this process all terms and conditions will remain confidential until otherwise mutually agreed.
“Upon completion of the acquisition, JNS Power & Control Systems, Inc. will be entering the multi-million dollar electric vehicle charging station market with an eye on continued growth in the sector," stated Brian Howe, CEO. “We look forward to this exciting new revenue generating opportunity for our company and fully expect to build on it in other markets and in our home market as well."
About JNS Holdings Corporation:
JNS Holdings focuses on building solid growth for our investors and shareholders through expansion of our core businesses while seeking additional strategic opportunities. The company's current capitalization is Total Authorized Shares of 122,000,000 with a Public Float of 63,504,182.
This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.