American Marconi Wireless News - Xcelerate, Inc. Announces the Sale of its Majority Interest in ESN Group

"We made a decision to divest these assets in order to re-focus our business on our original mission of implementing an AI aided medical technology and virtual health care program in Africa through our majority owned subsidiary, AfiyaSasa Africa, LLC," said Mike O'Shea, Xcelerate's Chief Executive Officer. "Proceeds from this sale, combined with funds raised in a recent private placement, will allow Xcelerate to re-implement this business plan. We anticipate making additional announcements on the development of this business in the near future."

Investors and stakeholders are encouraged to stay updated on the latest developments by visiting the Company's website at https://xcelerate.global.

ABOUT XCELERATE INC.

In May 2020, Xcelerate commenced implementation of a new business plan that encompasses two separate but related businesses within the medical industry, including (i) owning and licensing the rights to various forms of medical equipment and portfolio of patents, patents pending and technology licenses and (ii) development of virtual health technology to assist patients in developing countries obtain medical care by extending the reach of physicians through the use of that technology. For more information visit www.xcelerate.global or contact us at 854-900-2020 or email [email protected].

SAFE HARBOR

This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and actual results may differ materially from those projected in forward-looking statements resulting from various factors.

SOURCE: Xcelerate

View the original press release on ACCESS Newswire

X.Karnes--AMWN