Unique Global Innovative Solutions Corporation (OTC: UGIZ) announced the completion of its acquisition by AO Capital Partners, an affiliate of GBS Capital, according to a press release issued via NEWMEDIAWIRE. The closing follows an extended negotiation process and clears the way for the Company’s planned entry into oil and gas service operations in Venezuela under an incoming management team led by Javier Sanguino García as Chief Executive Officer.
The acquiring parties deliberately took time to close the transaction carefully. Rather than inheriting unresolved liabilities, AO Capital Partners prioritized the restructuring and conversion of a significant portion of the legacy convertible debt on the Company’s books—at a set price—ahead of the acquisition. This approach was designed to address potential surprises from convertible debt and dilutive instruments before closing, rather than afterward.
Much of the time between the initial Letter of Intent and the closing was devoted to a phased effort to convert out legacy convertible debt and limit dilution that those instruments could otherwise have caused. The incoming management team was mindful of legacy shareholders who have been invested in the Company for a long time, and the restructuring reflected a hard-fought negotiation with debt holders—in certain instances resulting in those holders accepting reduced terms in support of the Company’s go-forward direction. The Company expressed appreciation to those debt holders for their willingness to come to the table and accept a discount as a show of conviction in the incoming management team and the new direction of the business.
“We were very mindful that this process took longer than many of our investors and common shareholders may have expected, and we understand that may have caused some frustration,” said Javier Sanguino García, incoming Chief Executive Officer. “But I want to be clear: we did not waste a single day of this time. We’ve been planning ahead the entire way. I’ve personally made several trips to Venezuela in preparation for this closing so that we are positioned to hit the ground running on our operations. We are excited about what lies ahead and the things we intend to accomplish. We believe this is a strong beginning, and we expect the Company to strengthen considerably from here.”
With the acquisition complete and the Company’s capital structure substantially cleaned up ahead of closing, the Company intends to move quickly to establish its oil and gas service operations in Venezuela, drawing on Mr. Sanguino’s more than 30 years of oilfield services and operations experience across Latin America. The move positions UGIZ to capitalize on opportunities in Venezuela’s energy sector, which has seen renewed interest from international operators. For readers and industry observers, the transaction signals a potential new player in oilfield services, with leadership emphasizing operational readiness and a cleaner balance sheet. Additional information is available through Crossfield Energy.
