Green Globe International, Inc. Ceases Equity Investment in Village Green Global, Inc.
2010年9月1日 - 10:24PM
Green Globe International, Inc. (Pink Sheets:GGII), the worldwide
owner of the Green Globe brand, today announced that the company
has ceased its equity investment in Village Green Global, Inc. at
$237,500. Under a Co-Venture Reciprocal Licensing Agreement,
Green Globe International was given the right to acquire up to
$2,000,000 of Village Green's common stock, and the company
completed several rounds of financing since June 2010.
"We have decided that due to the potential of further impact on
the trading market for Green Globe stock, it is in the best
interests of the company to cease our financing of Village Green
Global, and no additional investment by Green Globe into Village
Green is planned at this time," said Steven R. Peacock, Managing
Director and Chief Executive Officer of Green Globe International,
Inc. "We will continue to work with Village Green Global on
the embedding of the Green Globe Baseline Standard into the
SMARTweb environmental reporting system as it relates to the
recently announced small business program launch with Greenopia and
Village Green Global, and we are in discussions about how we can
work together in the future."
The company is filing a Form D Notice of Exempt Offering of
Securities with the Securities and Exchange Commission related to
the issuance of common stock for the purpose of financing Village
Green Global. Once the filing is submitted, it will be
viewable under the company's name at the Securities and Exchange
website, www.sec.gov.
"As we have ceased our financing of Village Green Global, there
will be no more common shares issued for this purpose," added Mr.
Peacock.
On April 19, 2010, Green Globe announced its intention to reduce
the number of the company's authorized common shares by 4.5 billion
shares. The company has put the share reduction on hold for
the foreseeable future.
"Due to the recent decrease in the company's per share stock
price, we are going to delay the reduction of the authorized shares
until such a reduction is judged to be in the best interest of the
company and its shareholders," commented Mr. Peacock. "The
Board intends to revisit this issue in the future."
The Green Globe brand and program, which traces its roots back
to the United Nations Rio de Janeiro Earth Summit in 1992, where
182 Heads of State endorsed the Agenda 21 principles of Sustainable
Development, has primarily been used in the travel and tourism
industry but is now being expanded to include a growing number of
environmentally responsible businesses in a variety of market
sectors. The Green Globe brand is an ideal symbol for the world's
increasing awareness of environmental responsibility and response
to global climate change.
The company encourages all shareholders and others interested in
following the progress of the Green Globe brand to subscribe to
receive email alerts whenever new information is made
public. To subscribe, please visit
http://www.greenglobeint.com/stayconnected/email/.
About Green Globe International, Inc.
Green Globe International, Inc., through its 88% majority
ownership in Green Globe, Ltd., a UK corporation, is the worldwide
owner of the Green Globe brand, the recognized leader of
sustainability certification and benchmarking programs, carbon
footprint calculation and offset programs, and a broad range of
consulting services. Green Globe
International is an affiliate member of the United Nations World
Tourism Organization and the World Travel & Tourism Council
(WTTC), the business leaders' forum for the travel and tourism
industry, is a major shareholder of Green Globe
International. For more information on the company and its
programs, please visit www.greenglobeint.com or call
888-528-0883.
The Green Globe International, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=6582
For information on Green Globe Certification, please visit
www.greenglobe.com. To see sustainable travel options, please
visit www.greenglobe.travel.
Safe Harbor Statement
This release contains forward-looking statements with respect to
the results of operations and business of Green Globe
International, Inc., which involves risks and uncertainties. The
Company's actual future results could materially differ from those
discussed. The Company intends that such statements about the
Company's future expectations, including future revenues and
earnings, and all other forward-looking statements be subject to
the "Safe Harbors" provision of the Private Securities Litigation
Reform Act of 1995.
CONTACT: Green Globe International, Inc.
Public Relations and Communications
888-528-0883
corporate@greenglobeint.com
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