Grass Valley, CA, Oct. 24, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- On October 23, 2018, the Company entered
into a Memorandum of Understanding with Satel Group, Inc. to initiate a Merger between Satel Group Inc. and the Company.
www.satelsf.com
The President of Satel Group Inc., Richard Hylen, and Bob Stillwaugh, the Chairman and CEO of Simlatus, agreed
that it would be in the best interests of the shareholders to merge both companies.
Satel Group is multi-million dollar revenue based company in telecommunications and has been in business since
2008. Based in San Francisco, Satel provides High Speed Internet, VoiSelect Digital Telephone, and DIRECTV™ for Multi-dwelling
buildings including: Businesses, Apartments and Condominiums, and Residential Communities.
Simlatus will build specialized telecommunication and broadcast systems for Satel’s growing business model to
expand its services. Richard Hylen will be appointed as the new CEO and Chairman of the public company as a part of the corporate
actions to take place this month.
Bob Stillwaugh, Chairman, stated, “We have gone through a long process with FINRA and effecting our share
structure as of October 19, 2018. We have been planning this merger with Satel for the past six months, and Satel is excited to
take over Simlatus and utilize our manufacturing processes in audio/video technology in order to grow their business. This will be
better for our shareholders and bottom line.”
www.simlatus.com
Safe Harbor for Forward-Looking Statements: This news release includes forward-looking statements.
While these statements are made to convey to the public the company's progress, business opportunities and growth prospects,
readers are cautioned that such forward-looking statements represent management's opinion. Whereas management believes such
representations to be true and accurate based on information and data available to the company at this time, actual results may
differ materially from those described. The Company's operations and business prospects are always subject to risk and
uncertainties. Important factors that may cause actual results to differ are and will be set forth in the company's periodic
filings with the U.S. Securities and Exchange Commission.
Contact: Mike Schatz, COO (530) 205-3437 Source: Simlatus Corp.
