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Wednesday, February 03, 2010 11:17:12 AM
Company Completes Acquisition of Brightside Products, LLC.
SARANAC, Mich., Nov. 12 /PRNewswire-FirstCall/ -- Green Bridge Industries, Inc. (Pink Sheets: GRBG) is pleased to announce that the Company has acquired Brightside Products, LLC, an innovator of all natural based, eco-friendly chemicals, from Organic Products Solutions in exchange for $300,000. The purchase price will be paid in the form of $250,000 in restricted common stock of Green Bridge Industries based on $0.03 per share, with the difference paid in cash with 20% upon signing and the rest of the balance paid over a four month period. The acquisition, along with their relationship with Shot Spirits Corporation, will enable Green Bridge Industries to enter the industrial and institutional cleaning products market, which is estimated to grow to $10 Billion in the United States by 2012, according to Report Buyer (http://www.prlog.org/10102959-us-industrial-and-institutional-cleaning-products-market-to-hit-10-billion-by-2012.html).
Brightside Products, LLC, has developed a chemical product line whose main ingredient is a natural protein that enhances nature as it remediates what it cleans. Its products are made in the US and are able to break everything down into a natural state making it eco-friendly. The acquisition of Brightside Products will enable Green Bridge Industries to produce a "green" product line specifically designed for the industrial and institutional cleaning market.
"We are excited to be under the umbrella of Green Bridge Industries and believe that through their network, Brightside Products will be positioned for dramatic growth," stated David Gubb, President of Brightside Products, Inc.
"This acquisition immediately brings about the possibility to produce new products as well as enabling Green Bridge Industries to enter various vertical markets. The new products generated through this acquisition will enable us to increase our sales and marketing efforts through our network," stated William White, Chairman and CEO of Green Bridge Industries, Inc.
About Green Bridge Industries, Inc.:
Green Bridge Industries, Inc. offers non-toxic, environmentally friendly cleaning products to fit the sanitation needs of the medical, agricultural, military, and retail markets. The Company, through its proprietary technology, has the ability to develop bio-renewable alternative cleaning products, which are superior to the synthetic products currently offered in the marketplace. The Company's products are safe for the surfaces it cleans, the environment, animals and humans. For more information on Green Bridge Industries, visit: www.greenbridgeindustries.com.
Safe Harbor Act:
This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Contacts:
Green Bridge Industries, Inc.
www.greenbridgeindustries.com
Investor Relations
407-389-5900
SOURCE Green Bridge Industries, Inc.
http://www.prnewswire.com/news-releases/green-bridge-industries-inc-to-enter-multi-billion-dollar-industrial-and-institutional-cleaning-products-market-69844487.html
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