LifeQuest World Corp. has entered into a Letter of Intent to acquire 100% of a well-established solid waste management company based in the Pacific Northwest, marking a significant expansion of its environmental technology portfolio. The acquisition represents a strategic move to combine LifeQuest's international wastewater treatment expertise with established solid waste management operations in the United States.
Under the proposed transaction terms, LifeQuest will issue 2,888,290 Series B Preferred Shares convertible into 288,829,000 common shares and make a $500,000 cash payment. The acquisition target operates across Oregon, Washington, Idaho, and Montana, serving more than 3,000 customers with industrial trash compactors, balers, and waste handling equipment. The company has generated $3,034,000 in revenue and $220,000 in EBITDA for the year ending 2024.
The strategic importance of this acquisition lies in creating a vertically integrated environmental solutions provider capable of addressing both wastewater and solid waste management needs. The acquired company brings nearly 50 years of market leadership and exclusive distribution rights for an innovative aerobic food waste bio-digester, which efficiently treats food waste on-site. This technology complements LifeQuest's existing wastewater treatment systems that operate without producing sludge or odor.
The acquisition provides LifeQuest with immediate access to the U.S. solid waste management market through an established platform with a growing trash and recycling chute installation division that has completed over $6.8 million in projects since 2020. The company currently holds a signed contract pipeline of approximately $1.6 million, providing immediate revenue opportunities. This expansion complements LifeQuest's international wastewater treatment pipeline of approximately $28 million across Africa, the Philippines, and Southeast Asia.
Max Khan will continue as President, CEO, and Director of LifeQuest following the acquisition. The transaction represents a critical step in LifeQuest's mission to become a leader in sustainable environmental technologies by combining low-cost, low-maintenance wastewater treatment systems with comprehensive solid waste management solutions. The integration of these technologies addresses growing environmental concerns while providing practical solutions for municipalities, industrial facilities, and commercial establishments.
