Liberated Energy Inc (OTCMKTS:LIBED) to Acquire EcoCab Portland LLC

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Liberated Energy Inc (OTCMKTS:LIBED) shares were down 22.22% to $0.0700 and flat in after-hours trading. Share prices have been trading in a 52-week range of $0.00 to $0.70. The company has a market cap of $70,900.00 at 788,000 shares outstanding.

Liberated Energy Inc is a diversified energy services holding company delivering conventional as well as non-conventional energy solutions throughout North America. The company operates and acquires a diverse array of energy products and service companies with proven revenues and operations, aiming to be the best small cap energy services company of its kind in North America.

In a recent press release, Liberated Energy Inc announced that it has finalized its contract to acquire EcoCab Portland LLC. It has also been able to pay out two hundred and eleven thousand dollars to settle debts and liabilities over the past week, securing a more conventional credit facility to fund its future operations.

EcoCab is the country’s first employee-only zero emission taxi company using luxury Teslas in Portland. As such, it is a modern clean-energy transportation company which is similar to Uber and Lyft in utilizing smartphone technology for an on-demand service.

We are very excited to bring in such a fast growing and innovated company to Liberated,” said Brian Conway, CEO of Liberated Energy Inc. “It’s incredibly relevant in today’s market and goes along with our focus of reducing the carbon footprint on our planet. It’s a simple model, more cars equal more revenue, more cities”

EcoCab was founded in 2015, with an employee base that grew from 12 to over 70 employees. The company operates 32 vehicles on its fleet and has 13 more in order. The company has a particular focus in the medical transportation industry and has been the partner of choice of several national medical organizations in the city. According to its CEO Ron Khonri, EcoCab is planning to launch the brand in the US, following its exponential growth in the past months.

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