SOURCE: Greenway Design Group, Inc.

Greenway Design Group, Inc.

January 31, 2011 14:40 ET

Announcing Completion of Public Merger by Greenway Design Group, Inc. (GDGI.PK)

HUNTINGTON BEACH, CA--(Marketwire - January 31, 2011) - Greenway Design Group, Inc. (PINKSHEETS: GDGI) announced that in September 2009 it completed the acquisition of Greenway Design Group, LLC. The acquisition was later followed by an amendment to the Company's articles of incorporation to change the Company's name to Greenway Design Group, Inc. and issuance of a new trading symbol, GDGI, for the Company's common stock.

"We are very pleased that we completed the merger and the opportunity to join other publicly-traded companies on the OTC Market," says Ben Lefrancois, CEO and President of the Huntington Beach, California-based corporation. "We are now in position to capitalize on our past success and focus our attention on building manufacturing capacity and expanding the market reach of Cool-n-Save."

The Company has developed a technology that uses water mist to pre-cool air conditioning systems that produces significant reduction in energy use. Two laboratory studies, one from Tulane University (http://www.greenwaydesigns.com/pdf/CNS_Tulane_Study.pdf) and one from Hong Kong Polytechnic University (http://www.ibpsa.org/proceedings/BS2009/BS09_2204_2211.pdf), have concluded that water mist pre-cooling is an efficient and practical way to reduce energy consumption of air conditioning systems. Field tests have shown average savings of about 26% with peak savings of up to 30%.

More than 16,000 Cool-n-Save (www.coolnsave.com) residential pre-cool do-it-yourself installation kits have been sold. The Company also markets and manufacturers a high performance commercial version of the Cool-n-Save pre-cool system that requires professional installation and maintenance. Both systems feature Cool Release™, a patented and proprietary water treatment system that inhibits scaling.

For more information about the company and its products, call 866-680-7846 or visit www.coolnsave.com or www.greenwaydesigns.com.

FORWARD-LOOKING STATEMENTS

THIS PRESS RELEASE CONTAINS "FORWARD-LOOKING STATEMENTS." FORWARD-LOOKING STATEMENTS ARE STATEMENTS CONCERNING PLANS, OBJECTIVES, GOALS, STRATEGIES, EXPECTATIONS, INTENTIONS, PROJECTIONS, DEVELOPMENTS, FUTURE EVENTS, OR PERFORMANCE, UNDERLYING (EXPRESSED OR IMPLIED) ASSUMPTIONS AND OTHER STATEMENTS THAT ARE OTHER THAN HISTORICAL FACTS. THESE FORWARD-LOOKING STATEMENTS ARE ONLY PREDICTIONS. NO ASSURANCES CAN BE GIVEN THAT SUCH PREDICTIONS WILL PROVE CORRECT. ACTUAL EVENTS OR RESULTS MAY DIFFER MATERIALLY. FORWARD-LOOKING STATEMENTS SHOULD BE READ IN LIGHT OF THE CAUTIONARY STATEMENTS AND RISKS THAT INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH A SMALL COMPANY, OUR COMPARATIVELY LIMITED FINANCIAL AND MANAGERIAL RESOURCES, OUR INABILITY TO MARKET AND SELL OUR LIMITED PRODUCT LINE IN SUFFICIENT VOLUMES THAT MAY ALLOW US TO ACHIEVE AND MAINTAIN PROFITABILITY AND POSITIVE CASH FLOW, THE UNCERTAINTY OF MARKET TRENDS, THE INTENSE COMPETITION FACED FROM OTHER CURRENT AND FUTURE TECHNOLOGIES AND THE UNCERTAINTIES OF COMPETITIVE PRESSURES WE FACE. THESE OR OTHER RISKS COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THE FUTURE RESULTS INDICATED OR IMPLIED IN SUCH FORWARD-LOOKING STATEMENTS. WE UNDERTAKE NO OBLIGATION TO UPDATE OR REVISE SUCH STATEMENTS.

"Cool-n-Save" and "Cool Release" are registered trademarks of Greenway Design Group, Inc.

Contact Information

  • Contact:
    Ray Wyman Jr
    communications director
    Email Contact
    866-680-7846, ext 22