Energy Staffing Solutions, Inc. entered into an agreement to acquire staffing business unit from Labor Smart, Inc. (OTCPK:LTNC) for $0.35 million on August 17, 2016. The consideration shall be paid as follows: $0.19 million paid to Labor Smart concurrent with Closing, and $0.15 million in Energy Staffing Solutions Preferred Stock and $0.02 million to be delivered to Labor Smart within 45 days after the closing date. The assets acquired produced more than $1 million in revenue in 2015. The transaction is expected to close on August 17, 2016. Energy Staffing Solutions, Inc. completed acquisition of staffing business unit from Labor Smart, Inc. (OTCPK:LTNC) on August 18, 2016.