Enviro-Energy Corporation Agrees to Merge with ICM
17 March 2008 - 10:00PM
Business Wire
Enviro-Energy Corporation, Inc. (Pink Sheets:ENGY), has executed a
Letter of Intent to merge with Integrated Construction Management,
Inc. (�ICM�), a Texas-based commercial construction management
company. Enviro-Energy�s management is excited about ICM�s growth
potential and confident that the merger will proceed quickly
towards closing. ICM is being formed through the merger of Jones
Partners Construction and DFW Construction and Management Ltd. The
combination is the first step in creating a publicly traded, fully
reporting, integrated construction management company. Through
these two operating subsidiaries, ICM offers construction
management, design-build and general contracting services to
Fortune 500, large regional corporate and industrial clients and
public agencies in the Southwestern U.S. In 2007, on a pro forma
basis, ICM�s operating subsidiaries completed 85 commercial
projects in five (5) states, generating more than $24 million in
revenues. As part of the merger transaction, ENGY will change its
name to Integrated Construction Management, Inc., undertake a 1,300
to 1 reverse of its current issued and outstanding shares and
increase its authorized shares to 50,000,000. Upon completion of
the merger, there will be 27,250,000 shares issued and outstanding,
on a fully diluted basis. The Board of Directors approved the name
change and the Reverse Split, subject to shareholder approval. The
merger is expected to close within 60 days. Forward-Looking
Statements: The statements which are not historical facts contained
in this release are forward-looking statements that involve risks
and uncertainties, including but not limited to, the effect of
economic conditions, the impact of competition, the results of
financing efforts, changes in consumers' preferences and trends.
The words "estimate," �possible," and "seeking" and similar
expressions identify forward-looking statements, which speak only
to the date the statement was made. ENGY undertakes no obligation
to publicly update or revise any forward-looking statements,
because of new information, future events, or otherwise. Future
events and actual results may differ materially from those set
forth herein, contemplated by, or underlying the forward-looking
statements.
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