PALM SPRINGS, Calif., May 16, 2007 (PRIME NEWSWIRE) -- Environmental Service Professionals, Inc. (ESP) (OTCBB:EVSP), the leader in the Certified Environmental Home Inspector (CEHI) industry, today announced that it has engaged Blackwater Capital Group, Inc. as its investment banker. Blackwater Capital Group, Inc. will arrange and assist in funding current and future acquisitions and support future capital raising including its activities through its current commitment of five million dollars ($5,000,000) of investment capital for ESP through the private placement of 2,155,172 units of ESP securities at a price of $2.32 per Unit. Each Unit will consist of four shares of ESP Common Stock and one warrant to purchase one additional share of ESP Common Stock. The placement will be done in two tranches: 1,293,100 Units on or before June 1, 2007 and 862,072 Units on or before July 1, 2007.
"ESP has transformed itself from both a business and financial standpoint. More importantly, our team continues to gain traction by increasing sales of the CEHI national program for home inspections. One of the best ways to accelerate our national program is to engage the stakeholders that have a vested interest in ESP supporting national standards for the home inspection industry and for delivering process management solutions to the public markets. ESP seeks merger and acquisition opportunities that can add complementary products to our suite of services or open up new vertical markets. These efforts will require the investment of additional capital. As a growing service company based on technology, we are always examining opportunities for securing capital in a way that is ultimately beneficial to shareholders," said Ed Torres, Chief Executive Officer.
Torres further explains, "The primary reason we engaged the Blackwater Capital Group, Inc. in an investment banking relationship is its experience and knowledge that embraces emerging markets and its knowledge in assisting companies in roll-up opportunities. Its past success in working with other companies involved in roll-up markets have given ESP the ability to move forward in the consolidation of two industries. To date we have identified a number of M and A prospects that we are considering. As ESP continues to examine these opportunities, the collaboration with Blackwater Capital Group, Inc. will give it critical strategic insight as well as afford our team other options."
"Our team remains encouraged by the range of opportunities and the level of interest other promising businesses have expressed in becoming a part of ESP. We believe that partnering with Blackwater Capital Group, Inc. will provide ESP with many advantages as we move ahead with executing our strategic growth initiatives," concluded Mr. Torres.
About Blackwater Capital Group, Inc.
Blackwater Capital Group, Inc. - It is an Investment Banking and Venture Capital firm that is Chicago-based. It is a merchant bank highly focused on financing the growth sectors of our economy. Blackwater provides a number of services to its clients and portfolio companies through investment banking services and venture capital investing. It embraces the emerging markets and provides value added services to client and portfolio companies to further ensure their success to achieve rapid growth while achieving high market valuations. Serving corporations with corporate finance and Mergers and Acquisitions advisory services, it provides financial institutions with public equity research. Blackwater Capital Group, Inc. considers assignments in other sectors such as energy, high technology, health sciences, environment and education.
About Environmental Service Professionals, Inc.
Environmental Service Professionals, Inc. (ESP) ("EVSP") is a Nevada corporation headquartered in Southern California. ESP's strategy is to acquire businesses that have complementary goals for dealing with environmental issues and resolving environmentally sensitive problems. ESP has already completed two acquisitions. It is in various stages of discussion with several other companies that it believes are good operational and economic fits. The current acquisition candidates, if they are acquired, will include some that will be free-standing subsidiaries and others that will be absorbed into existing operations.
Since 1996 ESP's inspection division has offered franchised inspection services for addressing mold and moisture intrusion that can have an acute or chronic negative impact on the indoor air quality of commercial and residential buildings. The division has franchises and branch offices in many regions of North America that are independently owned and operated.
ESP's strategy, in-part, requires the division to replace the franchise structure and establish a new method of service delivery, the Certified Environmental Home Inspector program ("CEHI"). The division is to continue to refine and implement both the annual Mold and Moisture Maintenance ("MMM") and the National Builder's Mold and Moisture ("NBMM") subscription-based maintenance programs, including all related product and services. ESP intends to provide Peace of Mind to the consumer for its Family, for its Home and for its Health.
For more information visit www.espusa.net
Safe Harbor:
Statements in this press release may constitute forward-looking statements and are subject to numerous risks and uncertainties, including the failure to complete successfully the development of new or enhanced products. The Company may not have adequate capital to execute its business plan or make important business acquisitions in order to grow due to the lack of market demand for any new or enhanced products and services the Company may develop, any actions by the Company or its partners that may be adverse to the Company, the success of competitive products, other economic factors affecting the Company and its markets, seasonal changes, and other risks detailed from time to time in the Company's filings with the U.S. Securities and Exchange Commission. The actual results may differ materially from those expressed in this press release. The Company disclaims any obligation to update any statements in this press release.