VENTURA, Calif., June 24, 2010 (GLOBE NEWSWIRE) -- SGD Holdings, Ltd. (Pink Sheets:SGDH), owner of premier environmentally friendly paper manufacturer EcoPaper, today announced that the company has committed to signing documentation resulting in the finalization of the acquisition of the assets of EcoFriends, a Mexico-based paper products sales and distribution company, on Friday June 25, 2010.
SGD Holdings, EcoPaper, Inc. and EcoFriends remain in the end phases of completing PCAOB-compliant audits which will ensure the finalization of full disclosure and reporting.
SGD Holdings also reports that the company is in receipt of a purchase order for the production of raw materials in excess of $177,000. The order will be fulfilled during June and July, 2010 with an anticipated delivery date of July 22, 2010.
"Strategically and financially, the family of SGD Holdings' companies continues to grow with zeal," said Harry Johansing, CEO of SGD Holdings, Ltd. "Finalizing the acquisition of EcoFriends, in concert with the receipt of yet another large product order, indicates that our business model is sound and forward-thinking. It also confirms that the company remains at the vanguard of the global environmental movement, and that SGD Holdings fully maintains its commitment to serving the best interests of our investors, and the environment as a whole."
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.