Published: June 02, 2010
SGD Holdings Finalizes Contract for Acquisition of EcoFriends
VENTURA, Calif. - (BUSINESS WIRE) - SGD Holdings, Ltd. (Pink Sheets:SGDH), owner of premier environmentally
friendly paper manufacturer EcoPaper, today announced that the company
has successfully concluded due diligence and finalized a contract
resulting in the acquisition of the assets of EcoFriends, a Mexico-based
paper products sales and distribution company. SGD Holdings is in the
final phases of completing final requirements for incorporating
EcoFriends as the second of the company's subsidiaries.
SGD Holdings, EcoPaper, Inc. and EcoFriends, are currently undergoing
audits by PCAOB-compliant auditors to ensure that full disclosure and
reporting are forthcoming. SGD Holdings will release additional details
as they become available.
"This acquisition is yet another exciting step in our company's pursuit
of strategic expansion," said Harry Johansing, CEO of SGD Holdings, Ltd.
"Our development of EcoPaper represented our first successful step
towards creating a succinct strategy for long-term growth. Acquiring
EcoFriends is illustrative of another significant step in our path
towards confirming our position as an industry leader and confirms SGD
Holdings' 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.
Keller/King, Inc.
Matthew B. Geiser, 925-935-2882
matt@kellerking.com
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