Green Bridge Industries, Inc. Signs Finalized Agreement to Sell Zap Industries, Inc. and Green Bridge Institute, LLC
16 Septiembre 2010 - 7:47AM
Marketwired
Green Bridge Industries, Inc. (PINKSHEETS: GRBG) announces that the
Company has sold Zap Industries, Inc. and Green Bridge Institute,
LLC., to Green Bridge Technologies International, Inc. (PINKSHEETS:
GRBT) in exchange for $150,000 collateralized by a Convertible
Note. The transaction will allow the Company to focus on the
I&I market segment while still enjoying revenues from
production of the ZAP™ Brand Retail products.
"By selling these two subsidiaries it will free up the Company
to dedicate all of its resources towards strengthening our presence
in the Industrial and Institutional market segments," stated David
Gubb, CEO of Green Bridge Industries, Inc. "This agreement will
hold our position as the exclusive product supplier for all ZAP
Brand products as well as give us access to Green Bridge
Technologies contacts as their exclusive provider for Commercial
Sales and Distribution. We will benefit from their Retail Sales as
well as our I&I expertise."
As part of the agreement William White will move over to Green
Bridge Technologies International, Inc., to serve as the President
of both ZAP Industries, Inc., and the Green Bridge Institute, LLC.
He experience in Retail Sales and Distribution will be a valuable
asset to Green Bridge Technologies and the new position will allow
him to continue the work he has done on the ZAP™ Brand product
line.
About Green Bridge Industries, Inc.:
Green Bridge Industries, Inc. offers non-toxic, environmentally
friendly cleaning products to fit the sanitation needs of the
medical, agricultural, military, and retail markets. The Company,
through its proprietary technology, has the ability to develop
bio-renewable alternative cleaning products, which are superior to
the synthetic products currently offered in the marketplace. The
Company's products are safe for the surfaces it cleans, the
environment, animals and humans. For more information on Green
Bridge Industries, visit: www.greenbridgeindustries.com.
Safe Harbor Act: This release includes forward-looking
statements made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995 that involves
risks and uncertainties including, but not limited to, the impact
of competitive products, the ability to meet customer demand, the
ability to manage growth, acquisitions of technology, equipment, or
human resources, the effect of economic business conditions, and
the ability to attract and retain skilled personnel. The Company is
not obligated to revise or update any forward-looking statements in
order to reflect events or circumstances that may arise after the
date of this release.
Contacts: Green Bridge Industries, Inc.
www.greenbridgeindustries.com Investor Relations 407-389-5900
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