SOURCE: Garb Oil & Power Corporation

Garb Oil & Power Corporation

October 01, 2014 08:36 ET

Garb Oil & Power Corporation Announces Colorado Marijuana Paraphernalia Company Acquisition Contract

LARGO, FL--(Marketwired - Oct 1, 2014) - Garb Oil & Power Corporation (OTC Pink: GARB) (PINKSHEETS: GARB), The Company has entered into a company acquisition contract to purchase Chubby Glass LLC located in Boulder, Colorado for $189,000 cash terms. Founded in 2001, Chubby Glass produces primarily glass pipes that are sold in the marijuana industry and generates profits. The company acquisition is to close by year's end and will become a part of the Company's Medical Marijuana Division. In addition, the Company has entered into a 5-year employment agreement with Chubby Glass' founder and managing partner, Eric Ernst, to assist in a smooth transition and maintain continuity after the closing. During 2013, Chubby Glass generated close to $400,000 in sales revenue.

The Company's Medical Marijuana Division will sell medical marijuana related paraphernalia products that include recycled materials in their production. After closing on the purchase of Chubby Glass, recycled glass will become a part of the glass pipe production processes as soon as practical.

Tammy Taylor, company Chief Executive Officer and President stated "The Company acquisition contract to purchase Chubby Glass is the first company acquisition the Company intends to acquire that will utilize recycle materials in the making of useful products for sale. Glass is an abundant recyclable material that has been used by glass blower operations to produce artistic glass products. The Chubby Glass company purchase gives Garb the production capability required to begin utilizing recycled glass to produce useful and artistic products. With its location in Colorado, the Chubby Glass company acquisition will also give Garb the ability to begin its Medical Marijuana Division's manufacturing processes utilizing recyclable materials other than glass for sales available throughout the United States whether or not next month's November 4th Medical Marijuana Amendment 2 vote is passed by Florida's voters."

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.

Contact Information

  • Company Investor Relations Contact:
    Garb Oil & Power Corporation
    Telephone: 888-573-6622, Ext. 1

    Investor Relations Firm Contact:
    Pacific Equity Alliance LLC
    Zachary R. Logan / Drew S. Phillips
    Telephone: 858-886-7237