a mega acquisition

Group takes over four store and Hosanna Development.

Mega Group Inc. has entered into an asset purchase agreement pursuant leading it to acquire four gasoline convenience store operations located in Tidewater, Va. The purchase price is $12,900,000, plus the value of the inventory, payable in cash at the closing.

The agreement also provides for a closing ninety days from the date of the agreement. Mega Group expects to finance the purchase of the assets with both debt and equity capital raised from an exempt securities offering.

With this new acquisition, Mega has also entered into an agreement with Hosanna Development LLC, causing the Mega Group to acquire 100% of the membership interests in Hosanna for the assumption of debt of approximately $30,000. After consummation of this acquisition, Hosanna will become a wholly owned, operating subsidiary of Mega Group. Hosanna was acquired among others reasons, to manage the four gasoline convenience store operations.

“Our revised operational plan is to maximize shareholder value by offering diversified financial services to make rational investments in Small U.S. companies that meet our underwriting criteria,” said Mega Group CEO John H. Brown. “The company is acquiring Hosanna Development, LLC, for purposes of, among others managing four gasoline convenience store operations providing a daily cash revenue stream with substantial growth potential in the community related retail services sector. Our investment entry into consumer product offerings and real property ownership in local communities will leverage our ability to provide Consulting, Business, and Financial services to smaller companies in the urban and rural Faith Based communities we serve.”

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