Cheyenne, Wyoming, July 24, 2018: The Board of Directors of Argus Worldwide Corp. (www.argusworldwide.com) reported today that the Company has signed a Share Purchase Agreement with India based smart tech firm, Tejovat Technologies Pvt Ltd. (www.tejovat.com). The agreement gives the Company an initial 40% stake in the advanced engineering based smart tech hardware designer and manufacturer with terms and conditions that provide for Argus Worldwide to increase its stake to 100% ownership of Tejovat over a 12-18 month period. Selling Tejovat shareholders will be receiving a stock position in Argus Worldwide Corp. in return for their share position in Tejovat.
In addition, Santosh Labade, Tejovat founder and CEO, has agreed to serve as a Board Member and Senior Executive at Argus’ new technology enterprise, CyberJ Inc set to launch before year end. Just 3 weeks ago, the Company reported that Mr. Labade, has agreed to take on the interim role of Director, Technology at Argus Worldwide. With the signing of the Share Purchase Agreement, Mr. Labade will begin the process of phasing in to the day to day development activities at the Company’s Cyber Junky unit.
Says Michael Wexler, Chairman and CEO, Argus Worldwide, “The signing of this Share Purchase Agreement with Tejovat, marks a great day for both our companies as we forge together not only to advance the development of our Cyber Junky aggregator, but equally important, to give Argus a strategic opportunity to work closely with Tejovat management to build a major stake in the rapidly expanding multi billion dollar markets for state of the art consumer and industrial smart tech hardware products for use in both the home and institutional settings worldwide.”
Tejovat Technologies Pvt Ltd, was founded by Santosh Labade in 2015 and is headquartered in Pune, India. Tejovat is a leading consumer electronics company, engaged in the field of design, development, manufacturing, marketing and servicing of smart home products, tablets and mobile phones.
Argus Worldwide Corp. is a diversified operating company engaged in the development or acquisition of corporate properties in ‘go to’ business segments including but not limited to digital/internet products and services and health industries such as generic pharmaceuticals. The Company maintains its registered corporate office in Cheyenne, Wyoming and has affiliated offices in Ottawa, Canada; Warsaw, Poland; and Amsterdam, The Netherlands. Shares of Argus Worldwide Corp. are traded on the US OTC Markets; Pink Current (OTC: ARGW).
FORWARD-LOOKING INFORMATION: Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "will" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Corporation's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Corporation. The forward-looking information contained in this release is made as of the date hereof and the Corporation is not obligated to update or revise any forward looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained here.
For more information contact:
Argus Worldwide Corp. Investor Relations
In North America: 1-613-731-5935
In Europe: +48-787-668-861