GREEN is HOT! ACDU .0097 News: Envirocare Corp. Receives Funding for Joint Venture With Green World Crete Inc. for Green Concrete Plant in Nicaragua
DOYLESTOWN, PA -- (Marketwire) -- 01/11/10 --
Accredited Business Consolidators Corp
(PINKSHEETS: ACDU) announced that its subsidiary, Envirocare Corp., secured funding for a proposed joint venture in Nicaragua with Green World Crete, Inc., for an environmentally friendly "green" concrete plant
Envirocare Corp. was created to offer green construction solutions. After an opportunity in Nicaragua presented itself, Envirocare sought a method to produce cement that met the green specifications of federal and international agencies
After detailed meetings and receiving a full presentation from Green World Crete about their cement product known as Geo-Green Crete(TM), Envirocare Corp. entered a non-disclosure agreement to negotiate a joint venture initially valued between $5,000,000 and $12,000,000
A group of 12 European and 4 United States-based investors will provide funds for the project pursuant to a 15 year loan at 10.5% interest
"Envirocare received and reviewed an initial proposal from Green World Crete. Now that the financing is in place, Envirocare will move forward with negotiating the terms of the agreement for a joint venture for a plant," said Andy William, Vice President of Accredited Business Consolidators Corp. Geo-Green Crete(TM), by Green World Crete, is a zero-Portland-based cement. It is formulated using abundantly available post-industrial waste and naturally occurring aluminoscilicate materials
These materials are mixed with Green World Crete's proprietary binding agent at ambient temperature to produce a near-zero carbon dioxide emission manufacturing process and product
ABOUT ACCREDITED BUSINESS CONSOLIDATORS CORP
Accredited Business Consolidators Corp. is a diversified holding corporation which will assist its affiliates grow with the intention of releasing the majority to the Company's shareholders upon sufficient development. Visit our website (under construction) at www.accreditedbiz.com for information on our affiliated companies. The total number of authorized common shares is 450,000,000, and the common shares outstanding is 436,399,500. 328,018,200 shares are in the public float and on hand with CEDE & Co., 70,546,600 shares are restricted in certificate form, and 37,834,700 shares are unrestricted but in certificate form. There will be no increases in shares until at least June 30, 2010
This is not an offer to sell securities. Statements made are forward-looking subject to risks and uncertainties. Statements included are made as of the date hereof, and the company undertakes no obligation to update such statements to reflect subsequent events or circumstances
Actual results could differ materially from anticipated results
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Contact:
Investor Relations Envirocare Corp
envirocare@accreditedbiz.com 267-864-7737 Fax: 267-371-5168 Twitter: accreditedbiz
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