Solegear Bioplastics Inc.

Solegear Bioplastics Inc.

February 19, 2015 06:00 ET

Solegear Bioplastics Amends Date of Closing of Qualifying Transaction With Rodeo Capital

With Recent Market Volatility Beginning to Stabilize, Solegear and Rodeo Revise Plans to Close Qualifying Transaction by End of March 2015

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 19, 2015) - Solegear Bioplastics, a Vancouver-based company that engineers, high-performance plant-based plastics, today provided an update on the timeline of its qualifying transaction agreement with Rodeo Capital III Corp.

Consistent with the news release issued by Rodeo Capital III Corp on February 11, 2015, Solegear confirms that the agreement between the parties has been amended to extend the outside date for the closing of the transaction to March 26, 2015. This agreement was reached in recognition of the significant market volatility, from September 2014 to mid-January 2015, which is now stabilizing.

"After closely analyzing market conditions, from both technical and fundamental standpoints, we believe that we made a wise decision to wait for a greater level of market stability before completing this transaction," said Toby Reid, founder & CEO of Solegear Bioplastics. "The amendment of our agreement with Rodeo allows us to continue growing our business while we keep raising Solegear's profile as an up-and-coming microcap growth stock. With each day, we feel more and more strongly that Solegear is an excellent addition to equity portfolios that are seeking the next wave of growth stocks outside of traditional commodity-driven markets. We look forward to completing the transaction in March and this exciting next stage of our Company's growth."

Upon completion and closing of the qualifying transaction with Rodeo Capital, Solegear will begin actively trading on the TSX Venture Exchange as Solegear Bioplastic Technologies. The Company recently visited Bell Media's Business News Network to discuss its business and its plans, video of which can be found on BNN's website here.

About Solegear Bioplastics Inc.

Solegear, based in Vancouver, British Columbia, is an innovator in the field of next-generation plastics. The Company is an advanced materials firm that engineers, produces and distributes high-performance bioplastics (bioplastics are a category of plastics that are bio-based, compostable, or both). Founded in 2006, Solegear has developed, and is commercializing, proprietary bioplastics technologies that utilize annually renewable plant-based ingredients formulated using green chemistry, to address the growing North American market opportunity for rigid consumer packaging and durable plastic goods.

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