(Image via HIRE Technologies Inc.)
One of the greatest struggles people have endured during the COVID-19 pandemic is the massive wave of unemployment sustained from the virus’ economic fallout.
For companies that need to re-staff and individuals looking to get back to work,
HIRE Technologies Inc. (TSX-V: HIRE, Forum) is here to help through its diverse staffing solutions, geared towards meeting the demands of today’s highly fragmented workforce and new ways of doing business.
A solution to a serious problem as we sit on the verge of a recession, HIRE has attracted strong investor interest and in late August 2020 closed its oversubscribed private placement offering of 9% unsecured convertible debentures for aggregate gross proceeds of $2,419,000, while completing the acquisition of a prominent national staffing firm, The Headhunters, on September 1
st.
HIRE CEO Simon Dealy commented in
a news release for investors that there had been an overwhelming interest for this round of financing, including from the Company’s own board of directors and officers.
“The proceeds will help us fund additional acquisitions, make strategic investments, and provide working capital to our operating companies, putting us in a good place to execute on our strategy for the remainder of 2020. The staffing market is proving resilient and we are positioned for further growth despite uncertainty in the markets.”
The interest was so strong that this closing came after the Company
had increased this financing from $2,250,000. The Headhunters acquisition afterwards shows they are moving forward with their mandate and have expanded their geographical reach throughout Canada.
HIRE ’s share value also just hit an all-time high on August 27
th at $0.47 and has been trending upward since June.
(HIRE stock chart – Jan 2019 – Sept. 2020)
Core to the Company’s strategy that CEO Dealy mentioned is to scale via acquisition, thereby building a leading network across geographies and specialties.
By building its staffing, IT, and HR consulting network, HIRE helps its partners navigate this unprecedented global volatility across the business landscape, through its growth solutions, which focus on digital transformation. HIRE continues to support its clients during this tumultuous time by providing in-demand and flexible workforce solutions through its subsidiaries across a wide range of industries and sectors.
HIRE’s partnership model places emphasis on preserving the identity and independence of what its partners have built, while providing them with the resources and support to take their businesses further. HIRE is the only public, Canadian consolidator in this space.
As the unemployment rate continues to fall (down 1.4% for the second straight month in July, according to Statistics Canada, from May’s record high of 13.7%), HIRE is uniquely positioned for growth in the-near term.
HIRE Technologies is seeing its stock rise and investors who want to get in before it gets any higher should pursue deeper due diligence now.
To find out more about this Company, visit
hire.company.
FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.