Xcelerate, Inc. Retains Accounting Firm For Audit

MAULDIN, S.C., June 22, 2021 /PRNewswire/ -- Xcelerate, Inc. (OTC Pink Sheets: "XCRT") today announced it has retained BF Borgers CPA PC as the company's independent accountant to audit its financial statements for  years ending December 31, 2019 and 2020. The retention of the auditing firm is another step in the company's plan to bring value to its shareholders, said Xcelerate's CEO Michael O'Shea.

"Management has been diligently reviewing potential acquisition candidates over the past month," said O'Shea. "While we have no definitive agreement to acquire a company at this time, we remain optimistic that our efforts will be successful in the near future." Mr. O'Shea then cautioned "Nothing is done until it is done. This is a long process and involves a significant amount of work. Ideally, once we acquire an existing business, we will attempt to raise sufficient funds to insure the business is properly capitalized. We then plan on filing a registration statement with the SEC and thereafter, uplisting to OTCQB or QX, with the ultimate goal of uplisting to a national exchange. Hopefully, our recent relationship with a nationally-recognized investment banker will assist in this plan; their last three transactions resulted in uplistings to NASDAQ. As always, we intend to keep the investing public fully informed about all important Company developments as events warrant."

SAFE HARBOR

This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and actual results may differ materially from those projected in forward-looking statements resulting from various factors.

Media contact: Justin Baronoff 561-750-9800; [email protected].

SOURCE Xcelerate, Inc.

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