SCOTTSDALE, Ariz., March 8, 2010 (GLOBE NEWSWIRE) -- Green Planet Group, Inc. (OTCBB:GNPG) announced today that its wholly owned staffing subsidiary Lumea has successfully acquired two staffing companies, Staffing Concepts Corporation and Provincia Staffing, as it continues to implement its staffing industry rollup.
Staffing Concepts Corporation, located in Florida, is a light industrial staffing company which will be integrated directly into Lumea's current operations. Provincia Staffing of Phoenix, Arizona, is both a light industrial Staffing and professional staffing company, which has a strong reputation in the information technology sector. Provincia will become a wholly owned subsidiary of Lumea.
The assets of both companies were acquired for cash payments, Promissory Notes and restricted common stock for a combined value of $315,000. The two acquisitions will immediately increase Green Planet Group's consolidated annual revenues by approximately $5 million and will be accretive to earnings.
Both Provincia and Industrial Staffing Concepts have relationships with several industrial/commercial clients, which are now potential customers of the Company's green, energy conservation and emissions reducing products. In addition, Provincia provides Green Planet with enhanced IT capabilities, which will enable Green Planet Group to both improve its implementation and reduce costs of expanding its web presence. This will include completing both a new e-commerce sales website and Facebook sites (Green Planet Group & Gnpg Green). For additional information about Provincia Staffing, please visit www.provinciastaffing.com.
Green Planet Group, Inc. (OTCBB:GNPG) is based in Scottsdale, Arizona, and engages in ongoing research and development to create products and services that enhance our environment. The Company's revenues are currently derived from the production and distribution of fuel-based energy conservation and clean-air products, as well as through the placement of members of the growing ranks of the unemployed into meaningful "green collar" careers. For additional information, please visit www.greenplanetgroup.com.
SAFE HARBOR: Forward-Looking Statements
These forward-looking statements reflect the Company's current views with respect to future events and financial performance and are subject to certain risks and uncertainties. Actual results could differ materially from those implied by such forward-looking statements. Although the Company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be attained. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.