RAK Marine in talks to acquire an oil and gas distribution company
RAK Marine International, Inc.
(“RAK” or the “Company”) (Frankfurt:6RK) is pleased to announce that it is presently in negotiations to
acquire an Oil and Gas distribution Company based in the USA. The Company, which was established in the
60´s, markets and distributes refined oil and gas. These include diesel and racing fuels to name a few.
The current distribution targets wholesale and retail customers all over the United States. The Company
shows revenue of over $20 Million per year. Beyond this the company also provides equipment rentals and
sales as well as fuel brokerage.
The USA has 20 Million boaters and more than 8000 marinas and RAK
believes that adding fuel sales to their business will add considerable long term value. The Management
team said that complementing RAK´s business model with such a deal would enable RAK to achieve a number
of things, increase its revenue substantially, increasing its market share, cultivating the mobile
repair business and adding to the exciting mission to be a one stop shop. The mobile repair and fuel
sales can be offered parallel through the same marketing channels and offered as additional service to
clients. Due to the nature of where and how boat fuel is sold, we believe the mobile repair fleet and
fuel distribution business will work together well achieving symbiotic goals. Even though the company
has existing distribution there are well established boat fuel brokerage networks in the USA that can
serve as an added catalyst to increase serviceability of current and future clients for both fuel sales
and mobile repair. RAK is in final negotiation to execute the Acquisition agreement and has signed
preparatory documentation.
About RAK
RAK is an international boat repair and maintenance
company with offices in Shediac, New Brunswick and Honolulu, Hawaii. It offers comprehensive boat repair
services, including fiberglass repair, electrical repair, plumbing, welding, and fabrication. The
Company also provides mobile repair, traveling to boat owners locations to provide maintenance. The
Company hopes that its expertise in these areas will increase its ability to gain large government naval
contracts. The Company is dedicated to providing the highest level of professional service and providing
all boat owners with comprehensive boat repair and maintenance.
Disclaimer for Forward-Looking
Information
This press release contains projections and forward-looking information that involve
various risks and uncertainties regarding future events related to the Company’s intention to upgrade
its listing onto the general listing standards of the Frankfurt Exchange, the Company’s future business
plans and the Company’s intended ways to fund such plans. Such forward-looking information can include
statements based on current expectations involving a number of risks and uncertainties, and are not
guarantees of future performance of the Company. The risks and uncertainties include: that the Company
may be able to meet the general listing standards of the Frankfurt Exchange; that the Company may be
unable to finance its planned operations; whether the Company will be able to enter into sufficient
contracts to continue its business as intended; that the Company may become subject to litigation
pertaining to the provision of its services; that the Company’s business may be adversely affected by an
economic downturn; and that the Company may be affected by other risks and uncertainties that are beyond
the Company’s control. These risks and uncertainties could cause actual results and the Company’s plans
and objectives to differ materially from those expressed in the forward-looking information contained in
this release. The Company can offer no assurance that its plans and objectives will be completed as
intended or at all. The forward-looking information contained herein, and all subsequent written and
oral forward-looking information, are based on estimates and opinions of management on the dates they
are made and expressly qualified in their entirety by this notice. Except as required by law, the
Company assumes no obligation to update forward-looking information should circumstances or management’s
estimates or opinions change.
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