|By Marketwired .||
|May 19, 2014 08:15 AM EDT||
LARGO, FL -- (Marketwired) -- 05/19/14 -- Garb Oil & Power Corporation (OTC Pink: GARB) (PINKSHEETS: GARB) On May 13, 2014 the United States Bankruptcy Court for the District of Delaware approved the Company's $509,900 "As-Is" Asset Purchase Agreement with MFM Industries, Inc. for an industrial manufacturing property and remaining equipment that includes a 51,379 square foot warehouse and a 7,600 square foot covered wet shed for storing raw materials for the manufacturing process. The industrial manufacturing site is located in Reddick, Florida on 10.28 acres of land for the Company's previously announced wood pellet manufacturing and excess electricity operation. Some of the manufacturing equipment and infrastructure that remains on the site from MFM Industries' closed cat litter operation meets most of the Company's needs to manufacture wood pellets. The purchase closing is set to be on or before June 30th.
The Company has retained the investor relations firm of Pacific Equity Alliance LLC to perform direct investor relations services. The President of Pacific Equity, Zachary R. Logan, states "Our firm is thrilled to be working in tandem with Garb Oil & Power. After careful due diligence and consideration from management we feel GARB has tremendous future growth in fundamental developments and upside potential moving forward. Our team welcomes any and every shareholder of GARB to contact myself or any one of our representatives on behalf of the Company." Their investor relations contact information is detailed below under "Investor Relations Contacts:".
About Garb Oil & Power Corporation
Garb Oil & Power Corporation (OTC Pink: GARB) (PINKSHEETS: GARB) has a long company history in the fast growing industry of waste recycling and specifically related to waste-to-energy. Garb is organized to utilize both next-generation machines and new technologies, including those contributed to the Company by the Burda Families, to vertically integrate into the waste refinement, recycling and energy industries. In addition to selling new tires, shredders and related recycling equipment, the Company's emphasis is for its own plants to produce profitable new and "green" solutions for waste-to-energy including the potential use of hemp, alternate energy sources, fuel enhancements, recycle fuel operations that utilize the fuel enhancement products, new equipment technologies that improve energy usage efficiency and utilizing recycled material in producing both useful and desirable products including wood pellets and medical marijuana paraphernalia.
Cautionary Note Regarding Forward-Looking Statements: This press release contains forward-looking statements. These statements are based on current expectations and assumptions regarding future events and business performance and involve known and unknown risks, uncertainties and other factors that may cause industry trends or actual Company results, level of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these statements. Although the Company believes that expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. All who read this press release should not place undue reliance on these forward-looking statements, which apply only as of the date of this press release.