Allows Company to Close Milholland and McKay Acquisitions
POWAY, Calif., Jan. 03, 2020 (GLOBE NEWSWIRE) — via OTC PR WIRE — Solar Integrated Roofing Corporation (OTCPINK: SIRC), an integrated solar and roofing installation company specializing in commercial and residential properties with a focus on acquisitions of like companies to build a footprint nationally, announced today that it has secured a $2.7 million financing in a non-dilutive structure to close its Milholland and McKay acquisitions.
David Massey, CEO of SIRC, commented, “We have been working very hard to be able to secure the necessary funding to close the Milholland and Mckay acquisitions using a non-dilutive structure. These acquisitions form the base of our growth plan to become a dominant solar roofing company in the southern California market.”
Commenting further, Massey said, “With these companies under the SIRC umbrella, we feel confident that we can generate more than $30 million in revenues for its February fiscal 2021 with 12%-15% EBTDA margins. We feel that our stock, trading at less than a $4 million market cap, is undervalued and yet to be recognized by the financial markets.”
Finally, Massey said, “We are staying focused on what we need to do to enhance shareholder value and grow our company. We will continue to acquire companies that are accretive to our bottom line while expanding revenues and margins with the current companies already acquired.”
About Solar Integrated Roofing Corporation
Solar Integrated Roofing Corporation is an integrated solar and roofing installation company specializing in commercial and residential properties with a focus on acquisitions of like companies to build a footprint nationally. For more information, please visit: www.solarintegratedroofingcorp.com
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