EastBridge Investment Group's Wholly Owned Subsidiary, General Farms Corp, to Be Acquired by Rhino Two Horns, Malaysia
Wednesday December 5, 8:00 am ET
PHOENIX, AZ--(MARKET WIRE)--Dec 5, 2007 -- EastBridge Investment Group (EBIG) (OTC BB:EBIG.OB - News) today announced that it has signed a definitive agreement with Rhino Two Horns Sdn. Bhd, Malaysia for it to acquire General Farms Corp and assume effective control.
General Farms is a wholly owned subsidiary of EastBridge. A stock dividend of 5% of General Farm's common stock, or 10,000,000 shares, will be distributed to EastBridge's shareholders of record as of Nov 16, 2007. Under the terms of the share exchange agreement, the new stock ownership structure is: 15% owned by EastBridge and 5% owned by EastBridge's shareholders of record as of Nov 16, 2007. Rhino's beneficiaries will own the remaining 80%. The closing is expected to happen in ten working days.
Mr. Norm Klein, COO and CFO of EastBridge, commented, "We are committed to taking Rhino Two Horns Sdn. Bhd, Malaysia public in the U.S. as soon as practicable in 2008. We are quite impressed with the progress made by Rhino's management since August, 2007."
Rhino Two Horns, based in Malaysia, is first to market all natural energy sports drinks containing a unique formulation that re-hydrates faster than water and assists the body to refresh and recover from intense sporting activities in the sub-tropical climates. The current TWO HORNS(TM) product range includes Energy 250, and Ultra Sports 500 beverages. New products featuring the 'super fruit' Acai berry, called Acai Energy 250 and R3HYDR8(TM) 250 are being prepared for launch in the 1st quarter 2008. The company is currently negotiating to market its products to China, U.S. and Sri Lanka. More information is available at www.rhinotwohorns.com.
EastBridge Investment Group focuses on small to medium-size high-growth companies in China and India offering IPOs, Joint Ventures and Merchant Banking services. The Company targets industries in electronics, real estate, auto, metal, energy, environmental, bioscience and food retail distribution. To learn more about EastBridge Investment Group go to our web site: www.EbigCorp.com. To receive EBIG's email alert, send a blank email to info@EbigCorp.com.
The information in this news release includes certain forward-looking statements that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements to the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectation or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, fluctuations in foreign currency exchange, the impact of competitive services and pricing, or general economic risks and uncertainties.
EastBridge Investment Group Corp.
Investor Relations Contact:
The Eversull Group, Inc.
Source: EastBridge Investment Group