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| Blockbuster News Alert: CHRO Acquires Leading Texas-Based Retail Electric Provider |
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 Hot Stock to Watch |
Company: The Chron Organization, Inc. (Pink Sheets: CHRO)
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Last:
Price: 0.038
Change (%): + 0.0019 (5.26)
Volume: 189,322 |
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CHRON Acquires Leading Texas-Based Retail Electric Provider: Enertrade Electric LLC
DALLAS, TX-(Marketwired - Jan 25, 2017) - The Chron Organization, Inc. (OTC: CHRO) is pleased to announce that it has finalized terms and executed all binding closing documents in the acquisition of Enertrade Electric, LLC (Texas based Retail Electric Provider). CHRON has set up a wholly owned subsidiary, Zen Energy, Inc. (Zen) for such purposes and intends to use this entity to expand its retail energy operations across the country.
The transaction closed after hours this past Friday and is now only subject to pending regulatory approval from the Public Utility Commission of Texas (“PUCT”). The Company foresees no hurdles in garnering said approval, given the routine nature of such process and the qualifications that CHRON’s management team has in place. CHRON is eager and excited to make a substantial and positive contribution to the competitive retail energy sector in Texas.
With this acquisition, Zen has gained all of the licensing and supplier agreements needed to conduct business in the REP space meaning Zen will be able to sell electricity to its customers alongside its Smart Home technologies. This is a critical step forward for Zen in expanding its outreach to new customers and achieving its long-term goal of providing Smart and Energy Efficient Homes to the masses.
“We will be the first Smart Home retailer that not only controls the lights, thermostats and other home appliances, but also the meter from which these devices are running,” stated Alex Rodriguez, CHRON President and Zen CEO. “This is monumental and the opportunities for innovation are endless,” he went on to say.
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