Two Hands Corporation Announces Asset Sale of gocart.city
Toronto, Ontario
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May 04, 2023 09:00 AM Eastern Daylight Time
Two Hands Corporation, (CSE: TWOH) (OTC: TWOH) a Delaware company in the grocery and e-commerce sector, is pleased to announce the sale of its gocart.city business, including its e-commerce site, branding, Grocery Originals store, and inventory to a private buyer effective May 1, 2023.
Under the terms of the Memorandum of Understanding (MOU), the buyer has acquired the assets of gocart.city. The sale includes the e-commerce site, branding, supporting components of the Grocery Originals store, and inventory. The ongoing sales and client base will also be transferred as part of the transaction.
Two Hands CEO, Nadav Elituv, commented, "We believe this transaction is in the best interest of our shareholders and will allow us to focus on our core operations while reducing our debt by $134,700. We are confident in the buyer's ability to continue the growth and success of gocart.city."
As part of our strategic plan to refocus on core operations, Two Hands will be dedicating resources towards its growing food service business. The company has seen growth and opportunities in this sector, with an increase in both the number of customers and sales. Two Hands has also strengthened relationships with strategic suppliers, resulting in better overall margins for the company.
"We are excited about the growth and opportunities in our food service business and are committed to investing in its continued success," added Elituv
ABOUT TWO HANDS CORPORATION
Two Hands Corporation, (OTC: TWOH) is a food distribution company operating under the Cuore Food Services brand. Please visit our website at www.twohandsgroup.com
This press release contains forward-looking statements that involve a number of risks and uncertainties. Any statement not regarding a historical fact is a forward-looking statement. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, but are not limited to, the company's ability to finance its planned expansion efforts; the company's ability to raise funds on acceptable terms; the company's ability to successfully adapt its business model and such other risks disclosed from time to time in the company's reports filed with the securities and exchange commission including those on the company's annual report on form 10-K. The company does not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in management's expectations, except as required by law.
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