SOURCE: Aquvee, Inc.

August 07, 2009 14:16 ET

Aquvee, Inc. Calls Off Acquisition by Steadfast and Banx & Green

LAWRENCE, MA--(Marketwire - August 7, 2009) - Aquvee, Inc. announced today that it had withdrawn from an agreement to be purchased by Banx and Green, Inc., a subsidiary of the Steadfast Holdings Group, Inc. Mr. Quincy Vale, CEO of Aquvee, said, "We have terminated the stock purchase agreement to reset matters. There are significant opportunities Aquvee is pursuing that could not be attained within the Steadfast structure."

The foregoing press announcement contains forward-looking statements that can be identified by such terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. In particular, management's expectations could be affected by, among other things, uncertainties relating to our success in completing acquisitions, financing our operations, entering into strategic partnerships, engaging management and other matters disclosed by us in our public filings from time to time. Forward-looking statements speak only as to the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

The Company believes all remarks made in the release to be accurate to the best of their knowledge.

About Aquvee, Inc.

Healthy, Hip, Affordable Green Homes and Buildings

Aquvee, Inc. f/k/a PowerHouse Enterprises of Lawrence, Massachusetts is the designer, builder and facilitator of multiple LEED platinum, zero energy, and carbon footprint free buildings and projects. Aquvee works with developers, builders and home-owners to create beautiful, healthy, efficient and renewably-powered homes, classrooms and more.

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