Redishred Capital Corp. Awards New PROSHRED® Franchise in Dallas, TX, Marking the Fourth New Franchise Awarded in 2011
October 24 2011 - 3:15PM
PR Newswire (Canada)
MISSISSAUGA, ON, Oct. 26, 2011 /CNW/ - Redishred Capital Corp. is
pleased to announce that its subsidiary, Proshred Franchising Corp.
("PFC"), has entered into an agreement with a new franchisee to
operate a PROSHRED(®) shredding business. The new PROSHRED(®)
franchise office will be located in the Dallas, TX market. The
company currently has 19 locations in operation and with the
addition of this new location, and the recently announced new
Atlanta, and Phoenix locations, PROSHRED(®) will commence 2012 with
22 locations in the United States. Redishred's President John
Prittie noted that, "We are very pleased to award a PROSHRED(®)
franchise to Mr. Roger Steakley. Roger has a strong
management background and has been a long standing citizen in the
greater Dallas area. The Dallas-Ft. Worth market has a diverse base
of businesses and it is our hope that this is the first of more
locations to come in the state of Texas". Roger Steakley, our
new Dallas franchisee, stated "I have been looking for a business
with the opportunity to build a recurring revenue stream that has
strong benefits for the customers that use the service, both from a
compliance and environmental perspective. Furthermore, I feel that
my background in numerous senior management roles in the chemical
industry here in the Dallas-Ft. Worth area will allow me to succeed
in building my PROSHRED(®) franchise in this great market. I am
looking forward to being actively involved in the Dallas-Ft. Worth
community as a PROSHRED(®) owner." ABOUT OUR NEWEST FRANCHISEES
Roger Steakley has nearly three decades of success in the
petro-chemical industry in Texas. For nearly 20 years, Roger
worked with Celanese Corporation in progressive positions, ranging
from business development, financial planning and mergers and
acquisition. Most recently, Roger worked with Titan Wood Inc. in
Dallas, TX, and had responsibilities ranging from planning and
analysis as well as the responsibility for the panel product line.
ABOUT PROSHRED Redishred Capital Corp. is the owner of the
PROSHRED(®) trademarks and intellectual property in the United
States. PROSHRED(®) shreds and recycles confidential
documents and proprietary materials for thousands of customers in
the United States and Internationally in all industry
sectors. PROSHRED(®) is a pioneer in the mobile document
destruction and recycling industry and has the ISO 9001:2008
certification. In addition to the ISO certification, most of our
franchise and corporate locations are NAID certified. It is
PROSHRED(®)'s vision to be the 'system of choice' and provide
shredding and recycling services on a global basis. During the
first half of 2011, the PROSHRED(®) system shredded and recycled
10,900 tonnes of paper, which equates to 164,000 trees being saved.
System sales for all PROSHRED(®) locations were just shy of $7.5M
during the first half of 2011, which is up more than $1M (19%) over
the same period in 2010. Note: The TSX Venture Exchange has neither
approved nor disapproved of the information contained herein.
This news release contains forward looking statements that reflect
the current expectations of management of Redishred and Redishred's
future results, performance, achievements, prospects and
opportunities. Wherever possible, words such as "may",
"will", "estimate", "believe", "expect", "intend" and similar
expressions have been used to identify these forward looking
statements. These statements reflect current beliefs and are based
on information currently available to management of
Redishred. Forward looking statements necessarily involve
known and unknown risks and uncertainties. A number of
factors, including those discussed in the 2010 management
discussion and analysis under "Risk Factors", could cause actual
results, performance, achievements, prospects or opportunities to
differ materially from the results discussed or implied in the
forward looking statements. These factors should be
considered carefully and a reader should not place undue reliance
on the forward looking statements. There can be no assurance
that the expectations of management of Redishred will prove to be
correct. In particular, certain statements in this document discuss
Redishred's anticipated outlook of future events. These
statements include, but are not limited to: (i) The commencement of
operations which may be delayed by the franchisees inability to
secure the required facilities and equipment to operate a Proshred
franchise, and (ii) The addition of further locations in Texas
which may be impacted by local and global economic conditions.
Readers are cautioned that such forward looking statements are
subject to certain risks and uncertainties that could cause actual
results to differ materially from these statements. Redishred
can give no assurance that actual results will be consistent with
these forward-looking statements. RediShred Capital Corp.
CONTACT: Redishred Capital Corp. (TSX.V - KUT)Kasia Pawluk, CAChief
Financial Officerkasia.pawluk@redishred.comwww.redishred.comPhone:
(416) 204-0076 Fax: (905) 812-9448Jeffrey Hasham, MBA, CAChief
Executive
OfficerJeffrey.hasham@redishred.comwww.redishred.comPhone: (416)
849-3469 Fax: (905) 812-9448
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