LifeQuest World Corp. (OTCID: LQWC) has entered into a Letter of Intent to acquire 100% of the outstanding equity of a well-established solid waste management company based in the Pacific Northwest. The proposed transaction involves LifeQuest issuing 2,888,290 Series B Preferred Shares and making a US$500,000 cash payment as consideration. The Series B Preferred Shares are convertible into 288,829,000 shares of common stock and carry voting rights on an as-converted basis.
This acquisition represents a significant milestone in LifeQuest's growth strategy, combining nearly 50 years of leadership in the U.S. waste equipment sales and service market with LifeQuest's international wastewater treatment business. The move aims to create a vertically integrated environmental solutions provider capable of addressing both wastewater and solid waste management needs. The acquired company brings a proven track record in the Pacific Northwest with a customer base exceeding 3,000 accounts and exclusive distribution rights for an innovative aerobic food waste bio-digester.
The target company operates across Oregon, Washington, Idaho, and Montana, providing industrial trash compactors, balers, and related solutions. It also maintains a dedicated trash and linen chute installation division that has completed over $6.8 million in chute projects since 2020, with a current signed contract pipeline of approximately $1.6 million. The company reported combined unaudited revenue of $3,034,000 and EBITDA of $220,000 for the year ending 2024.
This strategic acquisition complements LifeQuest's existing international footprint in wastewater treatment, which includes a qualified sale pipeline of approximately $28 million across Africa, the Philippines, and Southeast Asia. The combination of these businesses creates a comprehensive environmental technology platform that can address multiple waste management challenges while leveraging cross-selling opportunities between the customer bases.
The acquisition enables LifeQuest to introduce its proprietary wastewater treatment system, which treats sewage wastewater inside pipes without producing sludge or odor and without using continuously running pumps for aeration, to the U.S. solid waste management market. Following the acquisition, Max Khan will continue in his role as President, CEO, and Director of LifeQuest, providing leadership continuity during the integration process.
