SOURCE: Green Equity Holdings, Inc.

Green Equity Holdings, Inc.

March 12, 2012 14:30 ET

Green Equity Holdings, Inc. Signs Letter of Intent to Acquire Patented Pharmaceutical Technology Company

DEERFIELD BEACH, FL--(Marketwire - Mar 12, 2012) - Green Equity Holdings, Inc. (OTCQB: CXTO) (the "Company") is pleased to report that we signed a Letter of Intent (LOI) with pH Pharmaceutical, Inc. ("PH"), a pharmaceutical company based in Washington, DC. PH is focused on the commercial application and licensing patented phl-100 technology. The LOI, signed on March 8, 2012, begins Green Equity's due diligence process, which includes the acquisition of the exclusive worldwide rights to the patented phl-100 technology. This unique technology has been FDA-approved for Over-the-Counter use in such formulated products for healthy skin and hair care, acne and anti-fungal treatments, and more.

Christopher Pearce, one of the founding principals of pH Pharmaceutical, Inc., will assume the duties as CEO and President upon the close of the transaction. Prior to co-founding PH in December 2007, Mr. Pearce served as Chairman and CEO of The Cannon Group, an NYSE-listed company, from 1991 to 1994. Raimundo Dias, CEO of Green Equity Holdings, Inc. said, "Mr. Pearce has significant experience in sales, marketing, finance and management. He brings a powerful combination of business experience, proven results and inspirational leadership to successfully run the global business strategies of PH."

As part of the above contemplated transaction, the current CEO, President and Sole Director of PH, Noreen Griffin, is resigning to seek other opportunities. Mr. Pearce thanks Ms. Griffin for her support and dedication to the company over the last couple of years.

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release includes various "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which represent Green Equity expectations or beliefs concerning future events. Statements containing expressions such as "believes," "anticipates," or "expects," used in the Company's press releases and periodic reports on Forms 10-K and 10-Q filed with the Securities and Exchange Commission ("SEC"), are intended to identify forward-looking statements. All forward-looking statements involve risks and uncertainties. Although the Company believes its expectations are based upon reasonable assumptions within the bounds of its knowledge of its business and operations, there can be no assurances that actual results will not differ materially from expected results. The Company cautions that these and similar statements included in this report are further qualified by important factors that could cause actual results to differ materially from those in the forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date thereof. Green Equity undertakes no obligation to publicly release any revisions to such forward-looking statements to reflect events or circumstances after the date hereof.

Contact Information