LARGO, FL--(Marketwired - Apr 21, 2014) - Garb Oil & Power Corporation (OTC Pink: GARB) (PINKSHEETS: GARB) -- Today the Company's Chief Executive Officer and President Tammy Taylor released the following open letter to shareholders to provide a clear picture of progress directly relating to Company operations' initiatives.
TO THE SHAREHOLDERS OF GARB OIL & POWER CORPORATION
The Company team has worked tirelessly on the corporate activities required to further the Company's operations within the framework of the Company's Business Plan to benefit all Garb shareholders. The Company Business Plan is for Garb to vertically integrate within the waste, recycling and energy industries with emphasis on operating its own plants. Below is a summary, including our progress to date in the development of the Company's operations.
We announced last month that we had begun visiting potential properties for the Company's Tampa Bay Area office/warehouse and the first Florida production site, to be located north of the Tampa Bay Area. The office/warehouse will be used to house the Company's corporate staff and related activities. The warehouse portion's initial use will be to provide inventory space for new truck tires and show case industrial recycling equipment.
Last week on Wednesday, April 16th, we disclosed in other corporate news that the Company has made significant progress on the purchase of its first Florida production site that is expected by all parties to be under contract early next month. This site is specifically being purchased to manufacture wood pellets to be used as an alternate power fuel and for farm and agricultural applications. In addition, the manufacturing facility will utilize power saving technology including the use of recycled materials as fuel that will result in lower operating costs. In addition, excess electricity will be generated that may be sold back to the power company, thereby the site generating an additional source of revenue.
Last week on Monday, April 14th, we announced the creation of a new corporate division relating specifically to the Medical Marijuana Industry after discovering there are several paraphernalia products that the Company may produce that also fit into the Company's Business Model of utilizing recycled material in producing both useful and desirable products. Also, within the Cannabis Industry, the Company has interest in the potential use of hemp as one of the raw materials utilized in the production of alternate fuels and energy that will be located on an additional production site. To further these endeavors prior to the State of Florida voters in November deciding if the use of Medical Marijuana will be legal in the state, the Company has begun endeavors to create the Company's first operation in a state other than Florida that has legalized hemp and paraphernalia production.
We are currently updating www.garbreorg.com to reflect our progress thus far. Please visit us there soon.
Tammy Taylor, Chief Executive Officer and President
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. The Company's emphasis is for its own plants to produce profitable new and "green" solutions for waste-to-energy, alternate energy sources, gas drilling, fuel enhancements, improving energy usage efficiency and utilizing recycled material in producing both useful and desirable products.
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.