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     209  0 Kommentare FOMO CORP. Acquires Assets of Independence LED Lighting

    Chicago IL, Feb. 16, 2021 (GLOBE NEWSWIRE) -- FOMO CORP., (US OTC: ETFM), has acquired the assets of Independence LED Lighting, LLC (“ILED”) for 250,000 restricted Series B Preferred shares valued at $2.5 million. As part of the transaction, FOMO incurs none of the ILED debt obligations.

    ILED, a U.S. manufacturer of energy-saving lighting, has a track record of quality installations that include marquis buildings such as Morgan Stanley’s Corporate Headquarters in New York City, MetLife’s offices across the U.S., and many small businesses. U.S Government “mission-critical” installations include over 30 U.S. Navy ships for Military Sealift Command, Marine Corps Base Quantico, the U.S. Department of Veterans Affairs Durham Medical Center, Walter Reed National Military Medical Center, and the Thumrait Air Base in Oman, among others.

    ILED also makes grow lights, for indoor farming, which reduce the distance from farm to table. An increasing number of vacant commercial buildings can be retrofitted into indoor grow farms for lettuce, microgreens, and other vegetables. The cannabis market is also expanding rapidly across the U.S., which provides an opportunity for an ILED advanced-agriculture product line.

    Vik Grover, CEO of FOMO COEP., commented, ”Following the LOI that we announced in January, we moved quickly to close this purchase. This exciting acquisition brings to us extensive products, services, and technologies in smart lighting, power over ethernet (“PoE”), and an expansive customer list spanning ten years of cultivation by ILED’s entrepreneurial and talented team. Further, Independence LED is qualified to sell to the federal government on the GSA schedule, and LED grow lighting has proven to be highly cost-effective with exceptional yield benefits in indoor farming and cannabis. Both of these areas are undergoing transformative periods of significant investment and growth.”

    Charlie Szoradi, ILED CEO, commented, “As schools, businesses, and government facilities across the country and around the world push to reopen and stay open safely, COVID-19 protocols have added significantly to operating costs. The installation of LED lighting dramatically reduces operating costs. As documented by Statista, a leader of market research, there has been a massive acceleration in commercial adoption of LED lighting from an estimated 1% of total-installed lights in 2010 to over 60% in 2020. And according to Grand View Research, the global LED lighting market size was valued at $54 billion in 2019 and is projected to expand at a compound annual growth rate (CAGR) of 13.4% from 2020 to 2027."

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    FOMO CORP. Acquires Assets of Independence LED Lighting Chicago IL, Feb. 16, 2021 (GLOBE NEWSWIRE) - FOMO CORP., (US OTC: ETFM), has acquired the assets of Independence LED Lighting, LLC (“ILED”) for 250,000 restricted Series B Preferred shares valued at $2.5 million. As part of the transaction, FOMO …