SOURCE: EcoPlus, Inc.

October 15, 2008 10:18 ET

EcoPlus Finalizes Agreement for Purchase of Its Charlotte, NC Licensee

Final Agreements Signed and Closing Anticipated in 2008

CHARLOTTE, NC--(Marketwire - October 15, 2008) - EcoPlus, Inc. of Charlotte, North Carolina EcoPlus, Inc. (PINKSHEETS: ECPL) announced today that it has signed an Asset Purchase Agreement for the assets of Ecosolve, LLC, its Charlotte, North Carolina-based licensee. When closed, the acquisition will bring an integrated, commercial operation under the umbrella of EcoPlus. EcoPlus anticipates closing in 2008. Financial terms of the transaction were not disclosed.

Phil Hicks, President of EcoPlus, stated, "This is significant as it is the first major step in deploying the EcoPlus technology through the concept of company-owned and operated plants." Hicks continued by noting, "The acquisition will create competitive leverage for EcoPlus in several areas, as it will provide a revenue stream from operations, provide material for test burns of the fuel product as required by purchasers contemplating Fuel Purchase Agreements, and allow for evaluation of incremental process improvements in a captive, commercial scale plant."

Forward-Looking Disclaimer

Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such proclamations about the Company's future expectations, including the closing of the asset purchase future revenues and earnings, technology effectiveness and all other forward-looking statements be subject to the safe harbors created thereby. EcoPlus, Inc. is a development stage company that depends on outside resources to maintain its continuation. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.

Factors that may affect forward-looking statements and the Company's business generally include but are not limited to (i) the risk factors and cautionary statements made in the Company's NASD or SEC filings; and (ii) other factors that EcoPlus is currently unable to identify or quantify, but may exist in the future.

Forward-looking statements speak only as of the date the statement was made. EcoPlus does not undertake and specifically declines any obligation to update any forward-looking statements.

Contact Information

  • Contact:
    EcoPlus, Inc.
    Investor Relations
    Toll-free: 877-494-0064