Garb Oil and Power Corporation - GARB released news today announcing they have signed a $20 million dollar funding deal. Once the news hit the wires traders jumped on the stock driving it up for a 185% gain on the day's session. Below it the news release.
SALT LAKE CITY, June 7, 2011 /PRNewswire/ -- Garb Oil& Power Corporation (OTCQB: GARB) signed a $20 million Equity Line with Evolution Capital, LLC. The funding will be used to close on potential acquisitions currently under review and due diligence. In addition GARB engaged DDR & Associates, a strategic consulting firm with years of expertise in helping small enterprises achieve their growth potential.
DDR & Associates was formed to provide broad-based solutions to its clients by bridging gaps that exist between traditional strategic consulting, legal, financial services and venture capital firms to facilitate the raising of capital. DDR accomplishes this by helping its clients evaluate all potential opportunities that exist to raise capital and acquire strategic resources. www.ddrassociates.com
"After evaluating GARB for a number of months we concluded that GARB possesses the technical know-how and the technologies to develop into a strong player on an International scale, within the E-Waste, E-Scrap and Rubber Recycling Industries. Our research had shown that these are high growth industries and DDR & Associates is proud to participate and assist GARB to grow," stated DDR Managing Director, Mr. Michael Dancy.
Garb Oil & Power Corporation is dedicated to the application of ClosedCycle(TM) principle and NoWaste(TM) residue. Our plants for Rubber Recycling, E-Waste and E-Scrap Recycling, Waste to Energy and OTR processing plants are all developed with these principles in mind. Garb believes that processing waste should be economically viable and leave NoWaste(TM). It is our endeavor to build plants that continue to push the boundaries for the attainment of the ClosedCycle (TM) principles and a world with NoWaste(TM).
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995. Statements contained in this document that are not historical fact, are forward-looking statements based upon management's current expectations. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. The results anticipated by any or all of these forward-looking statements may not occur. Garb-Oil & Power Corporation is not required to update its forward-looking statements.
CONTACT for Garb Oil & Power Corporation:
Garb Oil & Power Corporation
John Rossi President & CEO