Novation Holdings' Subsidiary Signs Factory Direct Representative Agreement
October 23 2013 - 8:45AM
Marketwired
Novation Holdings' Subsidiary Signs Factory Direct Representative
Agreement
BOCA RATON, FL--(Marketwired - Oct 23, 2013) - Novation
Holdings, Inc. (OTCQB: NOHO), today announced that StarPoint USA,
Inc., a wholly owned subsidiary of Crown City Pictures, Inc. which
is in turn controlled 60 percent by NOHO, has executed a Factory
Direct Representative Agreement with GP GreenPower Industries
("GPI"). The Agreement also appoints StarPoint USA as GP
GreenPower's Exclusive Authorized Factory Direct Representative for
the sale of GP GreenPower's EV350 and EV350-MC buses and other
future models, currently for the States of Texas, Oklahoma, New
Mexico, Louisiana, Mississippi and Puerto Rico. Additionally,
StarPoint USA plans to obtain approval from the U.S. Government
Services Administration ("GSA") to sell GPI buses to a wide range
of GSA accounts. GPI's EV350-MC is an all-electric 48
passenger bus. GPI's EV350 is an all-electric transit bus
incorporating lightweight battery packs providing for a range in
excess of 250 kilometers (155 miles). "We are very excited to
be working with GP GreenPower in the transit bus space where our
vehicle sales and distribution expertise will align closely with
their alternative fuel, eco-friendly transit buses, luxury motor
coaches and other alternative fuel models we are cooperating on to
have available in the future," said Ben Rainwater, President &
CEO of StarPoint USA.
StarPoint USA is a U.S. based vehicle distribution company that
has a proven sales track record but that is not exclusive to any
specific vehicle brand. This allows it to distribute a number of
different vehicle brands and models in the U.S. market. As
part of its ongoing business, StarPoint USA had been the exclusive
distributor of Daewoo vehicles and Genuine Daewoo Parts to the U.S.
market since 1998 and, today, continues to provide both warranty
administration and genuine Daewoo parts to the remaining Daewoo
owners in the U.S. StarPoint USA also does business in the
alternative fuel vehicles ("AFVs") space. StarPoint USA plans
to maximize sales and market share through the near term use and
further development of an existing and robust independent retail
dealership network. The company will offer unique vehicles of
exceptional value at very competitive prices, like the GP
GreenPower EV350 and EV350-MC buses, with sales being supported by
a seasoned, market savvy management team that is capable of
implementing a marketing strategy designed to introduce new vehicle
models and brands and to establish it as a leader in the
alternative fuel vehicle market niche. "An important aspect of
our business strategy is marketing a portfolio of different AFV
models that meet the needs of a wide variety of end users including
both fleet operators and retail customers and this new relationship
with GP GreenPower and their product line-up is a great fit for
us," added Rainwater.
GP GreenPower Industries Inc. is a British Columbia corporation
focused on the Public Sector Heavy Duty Transit Bus and Private
Sector Motor Coach Transportation Industries and Eco-commercial
equipment for the global market place. With 100+ years of
management experience, the company is engaged in the design,
engineering, manufacturing, sales and aftermarket business of
buses, coaches, and select commercial equipment. "We believe
that we have created the perfect team by combining GPI's
world-class product with StarPoint's expertise in sales and
marketing of vehicles in North America," said Phillip Oldridge, CEO
of GP GreenPower. "StarPoint's track record speaks for itself
and uniquely positions us in a rapidly expanding EV bus
market."
The AFV market is a growth segment that stands to increase
market share significantly by 2035 according to projections by the
U.S. Energy Information Administration (EIA), which includes a mix
of flex-fuel, mild hybrid, hybrid gasoline/diesel, electric,
plug-in hybrid electric, gaseous, electric and fuel
cell. These AFVs are expected to play a significant role in
meeting more stringent Green House Gas ("GHG") emissions and fuel
economy standards, as well as offering fuel savings in the face of
higher gasoline prices.
FORWARD LOOKING STATEMENT
Certain statements contained herein and subsequent oral
statements made by and on behalf of Novation Holdings, Inc. may
contain "forward looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Such forward
looking statements are identified by words such as "intends",
"anticipates", "believes", "expects", and "hopes" and includes,
without limitation, statements regarding Novation Holdings, Inc.'s
plan of business operations, product research and development
activities, anticipated revenues and expenses and potential
contractual arrangements and obligations. Also, our management may
make forward-looking statements orally to investors, analysts, the
media and others. Any statements made in this news release about an
action, event or development, are forward-looking statements. Such
statements are based upon assumptions that in the future may prove
not to have been accurate and are subject to significant risks and
uncertainties. Such statements are subject to a number of
assumptions, risks and uncertainties, many of which are beyond the
control of the Company. These risks and others are included from
time to time in documents we file with the Securities and Exchange
Commission, including but not limited to, its Form 10-Ks, Form
10-Qs and Form 8-Ks. Other unknown or unpredictable factors also
could have material adverse effects on our future results.
Accordingly, you should not place undue reliance on these
forward-looking statements. Although the Company believes that the
expectations reflected in the forward-looking statements are
reasonable, it can give no assurance that its forward-looking
statements will prove to be correct. Investors are cautioned that
any forward-looking statements are not guarantees of future
performance and actual results or developments may differ
materially from those projected. The forward-looking statements in
this press release are made as of the date hereof. The Company
undertakes no obligation to update or correct its own
forward-looking statements, except as required by law or those
prepared by third parties that are not paid by the Company. The
Company's SEC filings are available at http://www.sec.gov.
Contact: Contacts: Novation Holdings, Inc. Media Department
media@novationholdings.com
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