NEW YORK, NY / ACCESSWIRE / May 10, 2021 / New America Energy Corp. (OTC PINK:NECA) today announced the signing of a Letter of Intent to acquire a family entertainment center in South Carolina. The LOI was entered into on May 4th, but the negotiations have been ongoing for several weeks. The family entertainment center (FEC) target has bowling lanes, full arcade, redemption counter, party rooms and a full-service bar & restaurant. In addition to acquiring the operations of the FEC, NECA will also be acquiring the physical building and surrounding land as part of the transaction. Management believes the acquisition will be immediately accretive to NECA's cash flow:
This Letter of Intent is the first of what we hope to be a series of efforts to acquire similar FEC's by NECA in the Southeast. The Company plans to ultimately grow its revenues, assets, and cash flow through acquisitions in various sectors.
"As the country emerges from restrictions related to COVID, we believe there will be multiple opportunities capitalize on cash flow businesses that have are now springing back to life, "said Jeff Canouse, CEO of New America Energy Corp.
It is estimated that 110 million people bowl each year in over 150 countries worldwide making it the largest participatory sport in the world, beating out golf, billiards, and basketball. Companies are looking for venues and activities for their corporate events and millennials are seeking experiences over goods and we think Bowling is the perfect fit. It's a social gathering and group activity, which means adding bowling as a business opportunity perfectly positions NECA to profit from these global trends.
About New America Energy Corp.
New America Energy Corp. (NECA) is a holding company focused on strategic acquisitions that are opportunistic, cash-flow positive with hard assets.
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Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information 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, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of the company to differ materially from those expressed or implied by such forward-looking statements.
NECA Contact:
Jeffrey M. Canouse
770-235-6053
[email protected]
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https:/twitter.com/necaholdings
SOURCE: New America Energy Corp.