XALLES HLDGS INC. XALL
XALLES HLDGS INC. XALL
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Ticker: XALL
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Xalles Holdings Future Subsidiary LYC Mortgage Announces Initial Growth Plan Through Acquisitions

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WASHINGTON, DC and WESTWOOD, MA, Aug. 05, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Xalles Holdings Inc. (OTC: XALL), a company focusing on accelerating fintech companies, leveraging blockchain technology for financial reconciliation, and payment auditing solutions, previously announced the execution of the Share Purchase Agreement to acquire LYC Mortgage, LLC, a 15 year old, multi-state licensed mortgage lender.

As a direct lender, LYC receives larger margins on mortgage products than brokers and correspondent lenders.  Currently, LYC has the infrastructure to facilitate $100MM in annual fundings with the ability to rapidly expand to $500MM as necessary.  Growth plans are focused around these components; acquisition of targeted operating mortgage companies to obtain immediate closing volume, organic online growth through its BuyUSDA platform and third-party growth being a lender option for other mortgage brokers.

The LYC Mortgage team has already identified and is in discussions with multiple companies to acquire.  These include mortgage companies located in new states, expanding LYC’s licensed footprint. All acquisitions will be consummated through a combination of XALL stock, cash and debt notes. Channeling newly acquired volume through the LYC direct lending model will result in increased revenue on all fundings. Only long-standing profitable mortgage operations functioning as brokers or correspondent lenders are being targeted.

As per the Share Purchase Agreement, Xalles and LYC Mortgage plan to close the acquisition transaction on or before August 31, 2019. 

About Xalles Holdings Inc. (OTC: XALL)

Xalles Holdings Inc. is a holdings company that focuses on direct investments in disruptive fintech companies. The company actively seeks acquisition targets with solid management teams and business models, large total attainable markets (TAM), and lucrative exit opportunities to invest and accelerate growth in. Recently, the company has placed emphasis on leveraging Blockchain technologies to provide industry-leading financial reconciliation and auditing solutions, which will allow for the capture of recurring revenue streams over time. For more information visit: http://xalles.com

Visit us at Investors Hangout: https://investorshangout.com/Xalles-Holdings-Inc-XALL-91200/

Investors Hangout is the only authorized investors blog page for Xalles Holdings Inc.

About LYC Mortgage, LLC

LYC Mortgage, LLC has built a strong reputation as an outstanding mortgage company, serving the lending needs of real estate professionals, builders and individual homebuyers throughout the states of MA, CT, SC, TX and CA.  The company is an FHA Unsupervised Title II lender and a nationally approved as a USDA Lender. LYC is delegated to underwrite, close and fund loans.

 Forward-Looking Statements Disclaimer:

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainty and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of all filings of the Company that are contained in the Edgar Archives of the Securities and Exchange Commission at www.sec.gov and in OTC Markets at www.otcmarkets.com.

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Investor Relations Contact:

i-Business Management, LLC

[email protected]

202-595-1299

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