Details of the merger are to follow with the announcement of the executed definitive agreement

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Refinery Ventures Corporation executes letter of intent to acquire Laconic Enterprises. (Credit: edar from Pixabay)

Matthew Bassett, CEO & Chairman of Bassett Financial Corporation, the financial advisor for Refinery Ventures Corporation, has announced that the company has executed a letter of intent to acquire all of the issued and outstanding shares of Laconic Enterprises LLC. Refinery Ventures Corporation will change its name to Laconic Enterprises LLC, and the management team of Laconic and its board of directors will assume control of the company.

“This transaction will provide Laconic with the ability to effectively tap global capital markets to fuel the firm’s growth – we are excited to have the opportunity to supercharge our growth curve and become a truly global enterprise,” says Phil Kenny, CEO of Laconic Enterprises LLC on the transaction.

Laconic Enterprises LLC leverages its unparalleled project delivery expertise, global technology sourcing capabilities and integrated finance platform to deliver projects such as crude oil distillation units, large-scale energy efficiency upgrades, and energy storage facilities. Laconic delivers the appropriate project on a turn-key basis with zero capital expenditure on the part of the client.

Bassett Financial Corporation has facilitated a one hundred and twenty million-dollar ($120,000,000) USD LOC following the company’s acquisition of Laconic Enterprises LLC and Refinery Ventures Corporation public offering. This acquisition is the first stage of a strategic acquisition pipeline that has been formulated in tandem by Bassett Financial Corporation & Laconic Enterprises LLC.

“This transaction facilitates Laconic’s long-term strategic plan by providing a solid foundation of transparency and regulatory compliance upon which to build out integrated project delivery teams to service clients across the globe,” says Andrew Gilmour, COO of Laconic Enterprises LLC on the transaction.

Details of the merger are to follow with the announcement of the executed definitive agreement.

Source: Company Press Release