AMNE Increases Its Assets by $8 Million
17 Setembro 2009 - 9:20AM
Marketwired
American Green Group, Inc. (PINKSHEETS: AMNE)
(www.americangreengroup.com) through its joint venture with Ecosafe
Insulation of Florida, LLC (ECOFL) will increase its Net Assets by
$8 million dollars in the third quarter.
Under the terms of the agreement with ECOFL, AMNE is entitled to
half of the revenue generated from ECOFL. ECOFL will be completing
a reverse merger in the next few days and will issue AMNE a fifty
percent equity stake in the new company. At the current market
value AMNE would realize a gain to its Net Assets of $8 million
dollars.
Once the merger for ECOFL is complete and the shares have been
issued to AMNE a joint press release will be issued alerting
investors as to the symbol of the ECOFL.
AMNE will only be a shareholder and joint venture partner in the
ECOFL is merging into. The Officers and Directors of AMNE do not
have any interest in the company outside what will be owned by
AMNE.
The Company believes all other remarks made in the release to be
accurate to the best of their knowledge.
The foregoing press announcement contains forward-looking
statements that can be identified by such terminology such as
"believes," "expects," "potential," "plans," "suggests," "may,"
"should," "could," "intends," or similar expressions. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results
to be materially different from any future results, performance or
achievements expressed or implied by such statements. In
particular, management's expectations could be affected by, among
other things, uncertainties relating to our success in completing
acquisitions, financing our operations, entering into strategic
partnerships, engaging management and other matters disclosed by us
in our public filings from time to time. Forward-looking statements
speak only as to the date they are made. The Company does not
undertake to update forward-looking statements to reflect
circumstances or events that occur after the date the
forward-looking statements are made.
American Green (CE) (USOTC:AMNE)
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