SOURCE: SNM Global Holdings

November 30, 2010 08:41 ET

SNM Global Signs LOI to Acquire Banx and Green Group Inc. With $28.6 Million in Current Contracts

LONDON--(Marketwire - November 30, 2010) - SNM Global Holdings (PINKSHEETS: SNMN) announced today it signed a Letter of Intent to acquire 51% of Banx and Green Group Inc.

The acquisition will significantly enhance the company's asset base and revenue projections. Banx and Green Group is an Alternative Energy Company with specialties in Green Construction and Biofuel Development and has a contract to build a minimum of 11 Emergi-Care centers with an estimated value of $28.6 million. The contract is to perform within house diagnostic equipment for health care providers on the West Coast.

"We are confident about 2011 and beyond. Our agreement with SNM Global Holdings allows us to fulfill our business plan and capital needs," stated David Lafave, President of Banx and Green Group Inc.

The company has stated this deal is on a fast-track closing and anticipates and detailed announcement later this week.

Upon execution of the contemplated definitive agreements, SNM will file complete disclosures and financial statements alongside the merger agreements, and bring the company to full 'current information' status. Subsequent to achieving 'current' status, it is the company's plan to file for listing on the OTCBB.

Upon completion of the merger all current directors and officers will be replaced by Banx and Green Group's executive team. 

About SNM Global Holdings
SNM Global Holdings (SNM Global) is a technology holding and development company that invests in, acquires, and develops Intellectual Property Assets and Operations in the Clean/Alternative Energy, Biotech, Water and Green Construction sectors adapted specifically for the emerging global markets.

The Company sees profits through equity ownership and sales and distribution of its technology and solutions. The company operates through its subsidiaries and various distribution partners worldwide.

"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements to be materially different from the statements made herein.

Contact Information

  • CONTACT:
    SNM Global Holdings
    100 Pall Mall
    Saint James
    London SW1Y 5NQ United Kingdom
    Tel Number: (44) 020 7096 0200
    info@snmnglobal.com