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Energy Edge Completes Stock Purchase Agreement with Dutchess Equity Fund for Union Dental Shares
PR Newswire
BRIDGEWATER, N.J., July 30, 2012
BRIDGEWATER, N.J., July 30, 2012 /PRNewswire/ -- Energy Edge Technologies Corp. (OTC: EEDG) has announced the closing of a Stock Purchase Agreement with Dutchess Private Equity Fund to acquire Dutchess' entire stock and warrant position in Union Dental Holdings, Inc. (OTC: UDHI). The net effect of the transaction is that EEDG will become the second largest UDHI shareholder with 20 million shares of unrestricted stock and a cashless warrant to purchase 40 million more.
EEDG's purchase marks the first step in the forging of a strong working relationship between EEDG and UDHI. Both companies presently have partnership and distribution agreements with Drinkable Air and intend to greatly grow that relationship in the form of either a joint venture or soon to be formed subsidiary of EEDG. Union Dental reported revenues of $4,007,982 with a net profit of $177,026 for the last four quarters through March of 2012. http://www.uniondentalcorp.com/
"This will go down as one of the most significant game-changing days in the history of Union Dental," said UDHI's founder, CEO, and President, Dr. George Green. "We are blessed to welcome our new partners into the Union Dental family. Energy Edge has proven to be a spectacular judge of emerging business opportunities and we can't wait to merge our talents and explore new horizons together."
"Union Dental represents an outstanding investment for EEDG as well as the perfect business partner for several of our new ventures and initiatives," concluded Dr. Benjamin Chavis, Spokesperson for EEDG. "Dentists have become the #1 domestic target market for Drinkable Air's patented ozonated water purification system and UDHI is already capitalizing on the explosive need for this product in their industry. Dr. Green is one of the great innovators in his field and we expect to have several more announcements regarding our expanding relationship with UDHI in the coming weeks." www.energyet.com
Media contact: Glen Calder 561-750-9800 x216; gcalder@transmediagroup