Premier Products Group, Inc. Signs Letter of Intent to Enter the Intelligent Transportation Systems Market
- November 19th, 2020
- 3838 views
TARZANA, CA / CRWE PRESS RELEASE / November 19, 2020 / Premier Products Group, Inc. (PMPG), (OTC PINK:PMPG) announced it has signed a Letter of Intent to form a joint venture with The Patent Portfolio Group, to become the 'Gate Keepers' to the Intelligent Highway Infrastructure. The joint venture will consist of an extensive patent portfolio (21+ patents) and products covering the U.S. and 32 countries internationally, to transform roads and Highways to an intelligent infrastructure to make every road a 'Smart Highway' in the U.S. and Internationally. The patents go back to 2012 and cover wireless communications on, in, or near a paved surface.
The Intelligent Infrastructure market size was valued at $23.67 billion in 2018 and is projected to reach $92.38 billion by 2026, growing at a CAGR of 18.7% from 2019 to 2026. Allied Market Research February 2020 "We are currently going thru the due diligence period and valuation process to determine value", states Darrell Calloway, Interim CEO of PMPG.
The Patent Portfolio Group has prototypes of intelligent roadway pavement markers (RPM) that has the ability to transmit data and transform a municipality into a Smart City. Every RPM on the road can house up to 7 sensors to provide data to advanced driver assistance systems (ADAS). These sensors include GPS, temperature, motion, humidity, and water & ice detection.
The deal may involve cash and stock swap of both companies. PMPG will be authorizing more shares to facilitate the deal and bring in funding at a later date
All shareholders please go to the website www.pmpginc.com for updated information, shareholder meetings, and other important company information. Go to www.smartroadturtle.com to get more information on the joint venture website.
Safe Harbor Statement:
Except for historical information, certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and those statements are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance such statements will prove accurate and actual results and future events could differ materially from those anticipated in such statements. The Company cautions these forward-looking statements are qualified by other factors. The Company undertakes no obligation to publicly update any statements in this release.
Chief Executive Officer
SOURCE: Premier Products Group, Inc.
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