Cheyenne, Wyoming, June 28, 2018: Argus Worldwide Corp. (www.argusworldwide.com) reported today that routine due diligence and legal work associated with its reported investment in India based Tejovat Technologies Pvt Ltd. has resulted in extending the closing on its initial purchase of a 40% equity stake in the India based technology company (www.tejovat.com). Notwithstanding, the Company confirms that the Tejovat acquisition will continue with a new Closing Date scheduled the soonest possible within the next 2-3 weeks.
At the same time, the Company is announcing the appointment of Santosh Labade, Tejovat Founder and CEO, to the newly formed position of Director, Technology for the Company’s Digital/Internet Division which includes Poland based Cyber Junky Sp. z o.o. and the Company’s pending stake in Tejovat Technologies. It is intended that in his role with Argus Worldwide, Mr. Labade will not only continue to co-ordinate and provide management oversight on technological development within Tejovat Technologies but equally so within the Argus Cyber Junky unit where he will consolidate and direct development work on CJs big data CJ Aggregator project.
According to Michael Wexler, Company President and CEO, “We believe that Santosh will play a significant role in the growth and development of our Company in the months and years ahead. While Santosh will serve as a senior member of our Executive team in our recently announced CyberJ technology enterprise that will launch later in 2018, his many years of experience in senior engineering and management positions at world class technology companies makes him perfectly credentialled to take over the technology leadership role at our Digital/Internet Division. Most importantly, Santosh will provide the technical know-how and industry experience required to merge Tejovat’s advanced smart tech consumer and industrial products with the development work for the CJ digital aggregator platform that is intended to make all of our digital lives a lot easier.”
Tejovat Technologies Pvt Ltd, was founded by Santosh Labade in 2015 and is headquartered in Pune, India. Tejovat is a leading consumer electronics company, engaged in the field of design, development, manufacturing, marketing and servicing of smart home products, tablets and mobile phones.
Argus Worldwide Corp is a diversified operating company engaged in the development or acquisition of corporate properties in ‘go to’ business segments including but not limited to digital/internet products and services and health industries such as generic pharmaceuticals. The Company maintains its registered corporate office in Cheyenne, Wyoming and has affiliated offices in Ottawa, Canada; Warsaw, Poland; and Amsterdam, The Netherlands. Shares of Argus Worldwide Corp. are traded on the US OTC Markets; Pink Current (OTC: ARGW).
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “will” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Corporation’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Corporation. The forward-looking information contained in this release is made as of the date hereof and the Corporation is not obligated to update or revise any forward looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained here.