Green Globe International, Inc. Announces New Stock Trading Symbol: GGII
June 01 2009 - 9:34AM
PR Newswire (US)
MURRIETA, Calif., June 1 /PRNewswire-FirstCall/ -- Green Globe
International, Inc. (Pink Sheets: GGII), the worldwide owner of the
Green Globe brand, has been assigned a new stock symbol and,
effective at the market open today, will trade as GGII. The company
previously traded under the symbol GGLB. Also effective at the open
of trading today is a one-for-two thousand reverse split of the
company's common stock. The restructure the company's common stock
was initiated by the Board of Directors for the purpose of
facilitating the continued expansion of the Green Globe program and
brand in international markets. Management has stated that the
restructure was designed to allow the company to attract a wider
variety of investors and to make use of additional financing
options that are designed to bring necessary resources into the
company while minimizing dilution for holders of the company's
common stock. Principal shareholders, who collectively represented
52% of the common stock outstanding as of February 3, 2009,
approved an authorization for the Board to effect the reverse split
at a special meeting of shareholders held on February 11, 2009.
Since acquiring the ownership of the brand through the acquisition
of a majority interest in Green Globe Ltd. (UK) in February 2008,
the company has acquired a leading sustainability certification
program, which has been re-branded as Green Globe Certification;
has entered into a new license agreement with Green Globe Asia
Pacific (GGAP); and has launched the Green Globe Index tool, which
allows clients to calculate their CO2e footprint, the financial
cost of that CO2e, and to track their performance of energy and
water consumption and non-recyclable waste production. The company
has entered into numerous strategic partnerships that are allowing
Green Globe branded programs to penetrate new markets around the
world without increasing expenses or straining internal resources.
"Management's focus is to continue expanding current revenue
streams, establish new sources of revenue through Green Globe
branded programs and grow the company, all aimed at building value
for current shareholders," stated Steven R. Peacock, CEO and
managing director of Green Globe International, Inc. "Given the
realities of today's public markets, the Board believes that the
restructure of the common stock was necessary and will allow the
company to attract financing resources that recognize the potential
for the most widely known and well-respected international green
brand. We expect to associate with funding partners who see the
long-term value proposition presented by Green Globe and are
prepared to act as partners with us to enhance the value of the
company's common stock." The Green Globe brand and program, which
traces its roots back to the United Nations Rio de Janeiro Earth
Summit in 1992, where 182 Heads of State endorsed the Agenda 21
principles of Sustainable Development, has primarily been used in
the travel and tourism industry but is now being expanded to
include a growing number of environmentally responsible businesses
in a variety of market sectors. The Green Globe brand is an ideal
symbol for the world's increasing awareness of environmental
responsibility and response to global climate change. Green Globe
International encourages all shareholders and others interested in
following the progress of the company to subscribe to receive email
alerts whenever new information is made public. To subscribe,
please visit http://www.greenglobeint.com/stayconnected/email/.
About Green Globe International, Inc. Green Globe International,
Inc. is the worldwide owner of the Green Globe brand, which
includes the leading sustainability certification and benchmarking
programs, carbon footprint calculation and offset programs, and a
broad range of consulting services. Green Globe International has
been admitted as an affiliate member of the United Nations World
Tourism Organization. The World Travel & Tourism Council
(WTTC), the business leaders' forum for the travel and tourism
industry, is a 5% common stock owner of Green Globe International.
For more information on the company and its programs, please visit
http://www.greenglobeint.com/ or call +1 310-984-6807. Green Globe
services in the Asia Pacific are distributed, managed and sold
exclusively by Green Globe Asia Pacific (GGAP) through EC3 Global.
If you would like further information on GGAP, please visit
http://www.greenglobe.org/. Safe Harbor Statement This release
contains forward-looking statements with respect to the results of
operations and business of Green Globe International, Inc., which
involves risks and uncertainties. The Company's actual future
results could materially differ from those discussed. The Company
intends that such statements about the Company's future
expectations, including future revenues and earnings, and all other
forward-looking statements be subject to the "Safe Harbors"
provision of the Private Securities Litigation Reform Act of 1995.
DATASOURCE: Green Globe International, Inc. CONTACT: Green Globe
International, Inc. Investor Relations, +1-951-677-8073, Web Site:
http://www.greenglobeint.com/
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