COMMERCE, MI — (Marketwire) — 08/16/11 — iTeknik Holding Corporation (PINKSHEETS: ITKH), a leader in the telecommunications industry, today announced that it has launched a search for acquisition and merger candidates in the information technology industry or related field. The Company has executed five non-disclosure agreements and is currently evaluating two specific transactions. One transaction would be a potential acquisition and the second proposal would be a merger. In addition, the Company is having serious discussions with three other parties regarding other specific opportunities. The Company desires to enter into an acquisition or merger agreement by the end of the year.
Fredrick Wicks, Chairman and CEO of iTeknik Holding Corporation, stated, “iTeknik Holding Corporation was formed to find merger and acquisition partners in order to grow and increase the value of the Company. We conducted a series of meetings on Wall Street with several investment banking firms, fund managers and business brokers. These firms were very positive about the prospects of obtaining funds for iTeknik-s strategic plans. The Board of Directors feels that now is the time to move forward and find opportunities that will expand our product portfolio into other industries.”
iTeknik Holding Corporation (PINKSHEETS: ITKH) is classified as “Current Information” and trades on the OTC Pink tier of the OTC Market. For real time quotes and market information on the company visit .
About iTeknik Holding Corporation
iTeknik Holding Corporation was formed to develop and launch new technology and products in the global communications market. Through its Send Global subsidiary, iTeknik provides wholesale and retail telecommunications services, and products worldwide. Its services include voice over Internet protocol origination and termination; A-Z routing and switching; wholesale carrier routing services; reseller billing and reporting; Web-based reseller solutions; prepaid calling card solutions; international cellular calling; and retail point of sale solutions. The company serves B2B carriers, telecom resellers, retail outlets and consumers direct through websites such as , , , and . iTeknik Holding Corporation was founded in 2007 and is based in Commerce, Michigan. Through its subsidiaries, iTeknik has more than 16 years of history in the telecommunications industry. For more information please visit website and
This document contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainty, including without limitation, the ability of the Company to successfully implement its turnaround strategy, changes in costs of raw materials, labor, and employee benefits, as well as general market conditions, competition and pricing. Although the Company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this letter will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as representation by the Company or any other person that the objectives and plans of the Company will be achieved. In assessing forward-looking statements included herein, readers are urged to carefully read those statements. When used in the Annual Report on Form 10-K, the words “estimate,” “anticipate,” “expect,” “believe,” and similar expressions are intended to be forward-looking statements.
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