Garb Oil and Power Corp (GARB)

[flip_dollaz]

OUT TODAY:

SALT LAKE CITY, UT -- (Marketwired) -- 05/04/17 -- Garb Oil & Power Corp. (OTC PINK: GARB) has signed a letter of intent with biochar manufacturer Aces High BioChar, LLC, to purchase 30% of Aces High. The purchase includes assets, operations, and revenues.

Aces High BioChar has produced and sold over 200,000 pounds of biochar and can produce up to 35 tons of biochar per week. Aces High, as a biochar manufacturer, has several large wholesalers and distributors as customers who purchase in large volume.

Jim Garrett, Garb's CEO, said, "This is a great fit for everyone involved. Having a partially owned subsidiary will give us revenues and direction. I'd like to use our strengths to create a more direct distribution model and grow profit margins. We're very excited about the future."

Wes Johnson, President of Garb's Biochar Division, stated, "We have a real strategy and a great entry point into the biochar market. This acquisition makes us a relevant player with a viable product. Our job is to increase revenue and grow sales. We'll start by selling biochar direct to cannabis growers in Oregon, Colorado, and California and increase both our production and sales numbers."

Garb's corporate website, www.garbcorporation.com, hosts a video showing the machine in operation. Johnson further stated, "People are still discovering the benefits and uses of Biochar. The cannabis industry is highly focused on biochar as a soil additive and as legal cannabis becomes commoditized, growers are looking for competitive advantages in yield and quality. Biochar is that secret weapon."


http://m.marketwired.com/press-release/garb-announces-intent-to-acquire-biochar-producer-2213551.htm