SALT LAKE CITY, April 5, 2012 /PRNewswire/ -- Garb Oil &
Power Corporation (USOTC: GARB). Garb Oil & Power Corporation
announces shareholders meeting Saturday May
12, at 11.00 am, to be held at
Little America Hotel, 500 South Main Street, Salt Lake City, UT 84101.
THE AGENDA FOR THE SHAREHOLDERS MEETING WILL BE THE
FOLLOWING:
1. Thorough share
restructuring and the reduction of the Authorized shares
2. Discussion and vote on the
elimination of all Classes of Garb Preferred shares and conversion
into Common stock
3. Discussion and Vote on a
Reverse Split to occur within the earliest possible time as per
legal requirements.
4. Discussion and vote on
taking Garb to AMX or Small Cap exchange
5. Other matters
GARB further announces today that it has entered into a non
cancellable agreement with an undisclosed party to restructure,
reverse split the company and add to its management a world wide,
world class group of companies and representatives spanning the
globe. In addition this group will bring a UK presence and work on
expanding the US listing to UK. The objective is to create
long-term value for its shareholders while expanding its presence
worldwide. Combined this will make GARB a well managed world wide
company with merits and proven track record as well as technologies
and ability to build operate world wide and attract the capital
needed to do so. The combined deal will be applied to upgrade our
listings to AMX or small cap and will give us trading ability on 2
markets UK and US, as well as, ability to cross fund and co-fund
projects or keep the equity in the region based on the investors
requirements.
There will be more to come and a full disclosure of the terms
and conditions as well as board approval. The board has agreed in
principle to complete the transaction, which will energize the
company for role up of the two-targeted companies, as well as
position the company for finance of projects in Italy, Florida, Ohio, Saudi
Arabia and other markets to come. The management will
complete a new business valuation, completed by the combined
management and certified by independent analyst and will present it
to the board as well as other strategic partners and investors.
Management feels that this deal will increase the valuation and
visibility of its company. Watch for more to come.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995. Statements contained in this document that are
not historical fact, are forward-looking statements based upon
management's current expectations. The forward-looking statements
are subject to risks and uncertainties that could cause actual
results to differ materially from those set forth in or implied by
forward-looking statements. The results anticipated by any or all
of these forward-looking statements may not occur. Garb Oil &
Power Corporation is not required to update its forward-looking
statements.
Garb Oil & Power Corporation
+1-801-738-1355 Office
John Rossi President & CEO
Email: info@garbmail.com
Websites: www.garbop.com
SOURCE Garb Oil & Power Corporation