VENTURA, Calif., June 15, 2010 (GLOBE NEWSWIRE) -- SGD Holdings, Ltd. (Pink Sheets:SGDH), owner of premier environmentally friendly paper manufacturer EcoPaper, Inc. today announced that, during the final phases of SGD Holdings, Ltd.'s pending acquisition of EcoFriends, Wal-Mart Latin America placed an order with EcoFriends in excess of $100,000. EcoFriends will be supplied tree paper from EcoPaper, Inc. The product is expected to ship in mid July of 2010.
SGD Holdings, EcoPaper, Inc. and EcoFriends are currently undergoing audits by PCAOB-compliant auditors to ensure that full disclosure and reporting are forthcoming.
"This marks an exceptional quarter of growth for SGD Holdings," said Harry Johansing, CEO of SGD Holdings, Ltd. "Our process of acquiring the assets of EcoFriends is already proving itself to be an outstanding revenue source and also illustrates our integrity as a company. It is rewarding on so many levels when global corporations such as Wal-Mart identify the validity and importance of our business model, and bring our products to their customers."
Further illustrating the company's increasing industry prominence, SGD Holdings, Ltd. was prominently featured in an article published in the Ventura County Star newspaper on Sunday, June 13, 2010. Read the article by visiting: http://www.vcstar.com/news/2010/jun/12/a-kinder-kind-of-paper/.
About SGD Holdings, Ltd.
SGD Holdings, Ltd. (Pink Sheets:SGDH) is a holding company which owns and operates, through its wholly-owned subsidiary, EcoPaper, Inc. (http://www.ecopaper.com) Through internal research and development, as well as through acquisition, the company aspires to create and acquire new technologies, products and methodologies which have the potential to positively impact the environment. For more information regarding SGD Holdings, Ltd. e-mail ir@ecopaper.com.
About EcoPaper, Inc.
After developing an innovative and an economically feasible option for removing a portion of the more than 230,000 tons of agro-industrial waste generated annually by Costa Rica alone, EcoPaper, Inc. became among the first companies worldwide to create and implement processes for manufacturing and bringing to market tree-free, eco-friendly, beautiful, sustainable paper products of superior quality created from exotic tropical fibers. Founded by Harry Johansing, EcoPaper is proud that every sheet of EcoPaper product is smooth, acid-free, durable, chemical-free, and caringly manufactured. For more information regarding EcoPaper, Inc. visit www.EcoPaper.com or ir@ecopaper.com.
Forward-Looking Statements: The statements in the press release that relate to the Company's expectations with regard to the future impact on the Company's results from acquisitions or actions in development, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements in this document may also contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those contained in such statements. Such risks, uncertainties, and factors include, but are not limited to, future capital needs, changes and delays in plans and schedules, or market acceptance. SGD Holdings, Ltd. undertakes no duty to update these forward-looking statements.