Xcelerate Inc. completed the acquisition of an unknown majority stake in ESN Group, Inc.
July 20, 2023
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Xcelerate Inc. (OTCPK:XCRT) entered into a letter of intent to acquire an unknown majority stake in ESN Group, Inc. on January 17, 2023. On April 12, 2023, Xcelerate entered into a binding agreement to acquire a controlling interest in ESN Group, Inc. and its? portfolio of health care and skin care products. The agreement calls for payment of $0.35 million cash, the issuance of restricted Xcelerate stock, assumption of debt and employment agreements for key staff. The acquisition is expected to close no later than June 30, 2023.
Xcelerate Inc. (OTCPK:XCRT) completed the acquisition of an unknown majority stake in ESN Group, Inc. on July 20, 2023. Xcelerate utilized available cash, as well as loans from management and principal shareholders, to fund the acquisition.
Xcelerate, Inc. seeks to acquire technology/healthcare business. The Companyâs business plan encompasses three separate but related businesses within the medical, health and wellness sectors, including owning and licensing the rights to various forms of medical equipment and portfolio of patents, patents pending and technology licenses; formulation, packaging and marketing of over the counter, clinically tested skin care products, and development of virtual health technology to assist patients in developing countries, initially in Africa, to provide for their population to obtain medical care by extending the reach of physicians through the use of that technology.
XCELERATE INC. 