SOURCE: Novation Holdings, Inc.

October 29, 2013 09:28 ET

Novation Holdings Subsidiary Establishes Office in North Carolina

BOCA RATON, FL--(Marketwired - Oct 29, 2013) - StarPoint USA, Inc., a controlled subsidiary of Novation Holdings, Inc. (OTCQB: NOHO), today announced that it has established an office in North Carolina which will strategically position it to develop vehicle sales opportunities within the State of North Carolina. "Because our company headquarters is located in the Los Angeles area, our new office in Fletcher, North Carolina will give us a great location and access not only to new business opportunities within North Carolina for our portfolio of alternative fuel vehicles, but also to the entire East Coast, including Washington, D.C.," said Ben Rainwater, President of StarPoint USA.

StarPoint is a U.S. based vehicle distribution company that is not exclusive to any specific vehicle brand, which allows it to distribute a number of different brands and models in the U.S. market. As part of its ongoing business, StarPoint has been the exclusive distributor of Daewoo vehicles and Genuine Daewoo Parts to the U.S. market since 1998. Today, StarPoint continues to provide both Warranty Administration and Genuine Daewoo Parts to the remaining Daewoo owners in the US as it also does business in the alternative fuel vehicles ("AFVs") space. StarPoint plans to maximize sales and market share through the near term use and further development of its existing independent U.S. retail dealership network. The company will offer unique vehicles of exceptional value at very competitive prices with sales being supported by a seasoned, market-savvy management team that is capable of implementing a marketing strategy designed to introduce new car, truck and bus models and brands and establish it as a leader in the alternative fuel vehicle market niche. "An important aspect of our business strategy is marketing a portfolio of different AFV models that meet the needs of a wide variety of end users, including both fleet operators and retail customers," added Rainwater. 

The AFV market is a growth segment that stands to increase market share significantly by 2035 according to projections by the U.S. Energy Information Administration (EIA), which includes a mix of flex-fuel, mild hybrid, hybrid gasoline/diesel, electric, plug-in hybrid electric, gaseous, electric and fuel cell. Certainly, these AFVs will play a significant role in meeting more stringent Green House Gas ("GHG") emissions and fuel economy standards, as well as offering fuel savings in the face of higher gasoline prices.

FORWARD LOOKING STATEMENT

Certain statements contained herein and subsequent oral statements made by and on behalf of Novation Holdings, Inc. may contain "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward looking statements are identified by words such as "intends", "anticipates", "believes", "expects", and "hopes" and includes, without limitation, statements regarding Novation Holdings, Inc.'s plan of business operations, product research and development activities, anticipated revenues and expenses and potential contractual arrangements and obligations. Also, our management may make forward-looking statements orally to investors, analysts, the media and others. Any statements made in this news release about an action, event or development, are forward-looking statements. Such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. These risks and others are included from time to time in documents we file with the Securities and Exchange Commission, including but not limited to, its Form 10-Ks, Form 10-Qs and Form 8-Ks. Other unknown or unpredictable factors also could have material adverse effects on our future results. Accordingly, you should not place undue reliance on these forward-looking statements. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it can give no assurance that its forward-looking statements will prove to be correct. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected. The forward-looking statements in this press release are made as of the date hereof. The Company undertakes no obligation to update or correct its own forward-looking statements, except as required by law or those prepared by third parties that are not paid by the Company. The Company's SEC filings are available at http://www.sec.gov.

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