SNM Global Signs LOI to Acquire Banx and Green Group Inc. With $28.6 Million in Current Contracts
30 Novembro 2010 - 11:41AM
Marketwired
SNM Global Holdings (PINKSHEETS: SNMN) announced today it signed a
Letter of Intent to acquire 51% of Banx and Green Group Inc.
The acquisition will significantly enhance the company's asset
base and revenue projections. Banx and Green Group is an
Alternative Energy Company with specialties in Green Construction
and Biofuel Development and has a contract to build a minimum of 11
Emergi-Care centers with an estimated value of $28.6 million. The
contract is to perform within house diagnostic equipment for health
care providers on the West Coast.
"We are confident about 2011 and beyond. Our agreement with SNM
Global Holdings allows us to fulfill our business plan and capital
needs," stated David Lafave, President of Banx and Green Group
Inc.
The company has stated this deal is on a fast-track closing and
anticipates and detailed announcement later this week.
Upon execution of the contemplated definitive agreements, SNM
will file complete disclosures and financial statements alongside
the merger agreements, and bring the company to full 'current
information' status. Subsequent to achieving 'current' status, it
is the company's plan to file for listing on the OTCBB.
Upon completion of the merger all current directors and officers
will be replaced by Banx and Green Group's executive team.
About SNM Global Holdings SNM Global Holdings (SNM Global) is a
technology holding and development company that invests in,
acquires, and develops Intellectual Property Assets and Operations
in the Clean/Alternative Energy, Biotech, Water and Green
Construction sectors adapted specifically for the emerging global
markets.
The Company sees profits through equity ownership and sales and
distribution of its technology and solutions. The company operates
through its subsidiaries and various distribution partners
worldwide.
"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995 This press release may contain certain
forward-looking statements and information, as defined within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934, and is subject to the
Safe Harbor created by those sections. This material contains
statements about expected future events and/or financial results
that are forward-looking in nature and subject to risks and
uncertainties. Such forward-looking statements by definition
involve risks, uncertainties and other factors, which may cause the
actual results, performance or achievements to be materially
different from the statements made herein.
CONTACT: SNM Global Holdings 100 Pall Mall Saint James
London SW1Y 5NQ United Kingdom Tel Number: (44) 020 7096 0200
info@snmnglobal.com
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