Skybridge Technology Group (SKGO) Secures Financing to Merge with Textraw
The company is providing this update to its followers as a courtesy
Henderson, NV – January 26, 2011 – Skybridge Technology Group Inc. (SKGO;
www.skybridgetechgroup.com) believes that it has secured the necessary financing required to
close its merger with Georgia-based Textraw International.
An official news release will follow.
SKGO announced on October 5, 2010 that it was courting Textraw as a potential merger
candidate. Merger proceedings had been delayed due to arranging satisfactory non-stock
and/or stock-collateralized loans or other financial instruments to close the transaction. These
issues have now been solved and the funds will be advanced to SKGO in instalments over the
next several months for the purpose of closing the merger.
SKGO president Jeffrey Burns said: “Both SKGO and Textraw’s management teams see great
potential in this merger and believe that combining these two green companies and their
innovative creations will produce a winning formula for success in the fast growing market for
environmentally friendly products. The merger will expand operations, increase revenues and
should also result in enhanced shareholder value.”
Textraw is a synthetic pine straw made with recycled polypropylene from post-consumer scrap
recovered from plastic milk bottles. It looks identical to fresh, natural straw and maintains its
color and fresh appearance for many years, eliminating the need for biannual replacement.
Since Textraw does not decompose, but maintains soil breathability, it does not create a
problematic pest-attractive environment and is free of weed seeds, mold spores and mildew.
This revolutionary new product designed for landscaping has a much higher burn temperature
than natural pine straw and is therefore considered a much safer alternative to the real thing. A
number of southern American states have reevaluated building codes to restrict the use or
storage of pine straw in proximity to buildings because of its risk as a fire hazard.
SKGO operates a United States-based green energy company called Shot In The Gas
(www.shotinthegas.com) that creates products which significantly lower gas consumption and
gas emissions.
Details of various operational matters will be released as they become available via filing
services of OTC Markets and our IR Support Suite web site.
SKGO management asks its followers to follow these two web sites for further updates as the
company intends to continue providing timely and relevant updates.
AI
