SGD Holdings Finalizes EcoFriends Acquisition; Company is Also in Receipt of Manufacturing Order in Excess of $177K
24 June 2010 - 8:00PM
SGD Holdings, Ltd. (Pink Sheets:SGDH), owner of premier
environmentally friendly paper manufacturer EcoPaper, today
announced that the company has committed to signing documentation
resulting in the finalization of the acquisition of the assets of
EcoFriends, a Mexico-based paper products sales and distribution
company, on Friday June 25, 2010.
SGD Holdings, EcoPaper, Inc. and EcoFriends remain in the end
phases of completing PCAOB-compliant audits which will ensure the
finalization of full disclosure and reporting.
SGD Holdings also reports that the company is in receipt of a
purchase order for the production of raw materials in excess of
$177,000. The order will be fulfilled during June and July, 2010
with an anticipated delivery date of July 22, 2010.
"Strategically and financially, the family of SGD Holdings'
companies continues to grow with zeal," said Harry Johansing, CEO
of SGD Holdings, Ltd. "Finalizing the acquisition of EcoFriends, in
concert with the receipt of yet another large product order,
indicates that our business model is sound and
forward-thinking. It also confirms that the company remains
at the vanguard of the global environmental movement, and that SGD
Holdings fully maintains its commitment to serving the best
interests of our investors, and the environment as a whole."
About SGD Holdings, LTD.
SGD Holdings, LTD. (Pink Sheets:SGDH) is a holding company which
owns and operates,
through its wholly-owned subsidiary, EcoPaper,
Inc. (http://www.ecopaper.com.) Through internal research and
development, as well as through acquisition, the company aspires to
create and acquire new technologies, products and methodologies
which have the potential to positively impact the
environment. For more information regarding SGD Holdings,
Ltd. e-mail ir@ecopaper.com.
About EcoPaper, Inc.
After developing an innovative and an economically feasible
option for removing a portion of the more than 230,000 tons of
agro-industrial waste generated annually by Costa Rica alone,
EcoPaper, Inc. became among the first companies worldwide to create
and implement processes for manufacturing and bringing to market
tree-free, eco-friendly, beautiful, sustainable paper products of
superior quality created from exotic tropical fibers. Founded
by Harry Johansing, EcoPaper is proud that every sheet of EcoPaper
product is smooth, acid-free, durable, chemical-free, and caringly
manufactured. For more information regarding EcoPaper, Inc.
visit www.EcoPaper.com or ir@ecopaper.com.
Forward-Looking Statements: The statements in
the press release that relate to the Company's expectations with
regard to the future impact on the Company's results from
acquisitions or actions in development, are forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. The statements in this document may also
contain "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. When used in this press release, the words
"anticipate," "believe," "estimate," "may," "intend," "expect" and
similar expressions identify such forward-looking statements.
Forward-looking statements are subject to risks, uncertainties, and
other factors that could cause actual results to differ materially
from those contained in such statements. Such risks, uncertainties,
and factors include, but are not limited to, future capital needs,
changes and delays in plans and schedules, or market acceptance.
SGD Holdings, Ltd. undertakes no duty to update these
forward-looking statements.
CONTACT: SGD Holdings, Ltd.
Harry Johansing
805-644-4462
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