SGD Holdings, Ltd. Provides Update on EcoFriends Acquisition
23 Avril 2010 - 12:57AM
SGD Holdings, Ltd. (Pink Sheets:SGDH) announced today that is has
extended negotiations by mutual agreement as both parties proceed
with due diligence relating to the EcoFriends acquisition. The
expected closing date has been extended to May 31, 2010.
CEO, Harry Johansing, states, "I would like to reassure
shareholders that this delay in finalizing the EcoFriends
acquisition should not be viewed as a negative. Additional time was
needed on both sides to work through all of the necessary legal
requirements and we intend to close this transaction as soon as
possible."
About Ecopaper, Inc.
Ecopaper, Inc. is the first company in the history of the paper
industry to create and market treeless paper of a superior quality.
Every page of Ecopaper is smooth, acid-free, durable,
chemical-free, and made in Costa Rica. Ecopaper, Inc. has developed
an innovative and economically feasible option for the potential
removal of 230,000 tons of agro-industrial waste that are dumped
yearly in Costa Rica alone. The company's challenge is to invent
new processes and create paper for consumers, in new textures and
tones, using waste materials from exotic tropical fibers. The
results of processing these exotic tropical fibers are items that
both appeal to the consumer and positively impact the
environment.
About SGD Holdings, Ltd.
SGD Holdings, Ltd. is a holding company which owns and
operates through its wholly-owned subsidiary, Ecopaper, Inc.
(http://www.ecopaper.com/). Its goal is to acquire new technologies
which can positively impact the environment either through internal
development or by acquisition.
Forward-Looking Statement: 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.
Paul Westenberger
302-200-SGDH
paul@ecopaper.com
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