HINSDALE, Ill., June 19, 2013 (GLOBE NEWSWIRE) -- ID Global Corporation (OTC:IDGC) a diversified holdings company with a focus on emerging and middle market investment opportunities in North America, today announces Letter of Intent which contemplates an Exchange of Capital stock and Secured Debt of ID Global Corp. for the assets, operations, and existing contracts of Atlantic-Pacific, LLC.
ID Global Corp. is investing in emerging and established public and private companies that would benefit from the advantages of having the resources and expertise regarding Management, Finance, Social Media, and both Consumer products and Eco-Friendly processes. The company is positioning itself as being a catalyst between these companies to raise and infuse capital when required, and utilizing a strict criteria and selection process will mitigate risk and allow the company to build and maintain a diversified portfolio.
Sebastien DuFort, president and CEO stated "We look forward to incorporating Atlantic-Pacific's management, assets and operations into Fluid Solutions Group, Inc. by mid-July 2013."
About Atlantic-Pacific, LLC
AP's mission is to ensure its companies procure the highest quality products and services at the best value for its customers as a result of the inter-company relationships. Frequent customer interaction, strong vendor relations and continuous review and improvement of its processes will further this goal. The Company currently operates in five regions in the continental U.S. These reclaimed products can be easily integrated into any operation. Since this energy source is renewable, the Company believes it is in line with current trends towards environmentally-conscious products which also supports a worldwide market. Through one of our established companies, the used lube oil is taken in via the company's own truck fleet. The oil is tested and processed to meet the strict guidelines of water and chlorine content, once within the proper parameters, the oil is loaded and transported by way of rail to the re-refinery where it is processed further into but not limited to; base oil or vacuum gas oils. The company's management and staff have over 28 years of experience in the waste oil industry. The company is currently operating with a supply contract to the largest used oil re-refiner in volume for 2011-2012. The current renewable contract is for another two and a half years. The company, since its inception, has consistently been the re-refiner's largest supplier of used lube oil feedstock. The Company anticipates sales to the re-refining market which includes Omega Refining (www.omegarefining.com) and Safety-Kleen, Inc. as well as to the burner fuel market.
About ID Global Corporation
ID Global Corporation (IDGC) is a diversified holdings company with a focus on emerging and middle market investment opportunities in North America. IDGC seeks, through debt and equity investments, controlling interests in established companies as well as special situation start-ups.
Forward-Looking Statements
This press release contains statements which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of ID Global Corporation and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.