VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 30, 2014) - GreenAngel Energy (TSX VENTURE:GAE) has acquired a 30% equity interest in a newly formed corporation, CamDo Solutions Inc. that will market innovative photographic solutions especially suited for remote monitoring and environmental applications.
In an agreement entered into by Cam-Do.com LLC of Madison WI, Todd McCann of Brisbane, Australia and GreenAngel Energy Corp, a new company, CamDo Solutions Inc., was incorporated in Vancouver BC to launch a global marketing venture specializing in proprietary photographic industry and green technology products. CamDo Solutions Inc. will be 40% owned by Todd McCann, 30% by Cam-Do.com LLC and 30% by GreenAngel Energy Corp. These ownership interests are founders shares that are subject to vesting provisions and dilution pursuant to future investment rounds.
GreenAngel's role is to provide corporate finance and advisory services to CamDo Solutions. Todd McCann will become CEO of CamDo Solutions Inc. which will be headquartered in Vancouver, BC. Cam-Do.com LLC began shipping products over a year ago and CamDo Solutions will immediately take on the responsibility for sales and order fulfilment.
"This is a great opportunity for GreenAngel Energy to use its connections to assist in the launching of a new venture with products for which there is already more than one year's track record," says Mike Volker, Chairman of GreenAngel Energy, "and it gives us a platform for the marketing of new green tech products in the future."
"The overwhelming demand for Cam-Do.com's current products led us to seek a broader corporate umbrella under which we will be able to expand our product range and international market penetration. With CamDo Solutions Inc. and GreenAngel Energy, we feel that we will be positioned for extraordinary rapid growth," said Peter Jennings, founder of Cam-Do.com LLC.
Todd McCann, CEO of CamDo Solutions Inc. adds, "The diversity of products so far is the tip of the iceberg, as more opportunities present themselves almost daily. With such a successful start thanks to founder, Peter Jennings' broad skill-set, the focus now is to execute the strategy, particularly in the areas of product development, supply chain and marketing."
CamDo Solutions Inc. will be participating in GreenAngel Energy's PowerHaus Pavilion at the Cambridge House Investor Conference in Vancouver on June 1 and 2.
ON BEHALF OF THE BOARD
Michael Volker, Chairman
About GreenAngel Energy
GreenAngel Energy Corp. is the first publicly traded Angel Fund that invests solely in emerging private green technology companies (TSX VENTURE:GAE). We provide an avenue for retail investors to gain access to a portfolio of promising early-stage ventures across a spectrum of green technology sectors. We focus on commercializing new technologies that produce renewable energy, improve energy efficiency or use renewable energy resources such as water, wind and solar. In addition to providing strategic capital, GreenAngel Energy also mentors and advises its investees to help them achieve commercial success. GreenAngel Energy's current portfolio includes Delaware Power Systems, Mazza Innovation Ltd, Habitat Carbon Assets, moj.io inc, dPoint Technologies, and Paradigm Environmental Technologies. GreenAngel Energy also manages PowerHaus Technology Ventures (VCC) for accredited investors and a series of interest-paying Notes. For more information, please visit www.greenangelenergy.ca.
About Cam-Do.com LLC
Cam-Do.com LLC commercializes specialty products for the photographic industry and solutions for remote monitoring and control. With customers in 74 countries and 54 US states and territories, Cam-Do.com represents an international team of software and hardware developers with years of experience developing custom solutions to real world problems. The Company was created by Peter Jennings, a Silicon Valley veteran best known for founding VISICORP, a company that brought the world's first successful spreadsheet, VISICALC, to market. Peter is an entrepreneur, inventor and creator of numerous products. For more information, please visit www.cam-do.com.
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Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits GreenAngel Energy will obtain from them.