GROVELAND, Fla., Sept. 12, 2012 /PRNewswire/ -- Eco Ventures
Group, Inc. (OTCBB: EVGI), an emerging producer of diversified
sustainable alternative energy, today announced that it has
retained a leading New York-based
investment banking firm to assist with sourcing capital in two
financing agreements.
The investment banking firm was founded in 1925, is one of the
oldest in the United States, a
member of the New York Stock Exchange and a full service
broker-dealer employing over 500 people. The firm manages two
Morningstar rated funds with over $2.8
billion of retail accounts, nearly 100 registered
representatives and 20 investment advisors in six offices.
Under the first agreement, Eco Ventures Group has retained the
investment banking firm as its exclusive placement agent and
financial advisor in connection with acquisition financing of up to
$4 million. The Company must meet
various terms and conditions, as are customary, and which it
believes are reasonable and fully attainable.
The second agreement anticipates a public offering of
$15 million on a firm commitment
basis. That planned offering is contingent upon: the Company's
successful acquisition of a majority stake in Energiepark Suptitz,
GmbH (EPS), for which it recently announced signing a Definitive
Agreement; the Company's qualification for up-listing to the Amex
or Nasdaq stock exchange, (EPS reports US$32.4 million in tangible assets on its
June 30 balance sheet); and various
other customary conditions. Further details are provided in the
Company's report on Form 8-K which will be filed with the SEC
today.
Randall Lanham, Eco
Ventures Group Chief Executive Officer, said, "After we had
completed our due diligence on EPS, we later accompanied our
investment bankers to Germany as
they performed their own independent due diligence prior to
committing to the transaction. They are consummate professionals,
whose work is exhaustively thorough and first rate." Mr. Lanham
added, "Engaging a prestigious New York Stock Exchange firm greatly
strengthens our ability to accelerate growth both near and long
term. Now, with Mark Cox, a career
Wall Street executive who specialized in the alternative energy
sector as our newly appointed president, I am confident we have
assembled the right team to ensure successful implementation of our
capital markets strategy."
About Eco Ventures Group, Inc.
Eco Ventures Group, Inc. ("EVGI") is acquiring and
developing a family of ecologically friendly and economically sound
businesses committed to providing for society's energy and
renewable resource needs (www.ecoventuresgroup.com). The Company
July 24 announced it had signed a
definitive agreement to acquire a majority stake in Energiepark
Suptitz, GmbH ("EPS"), an owner and operator of a diverse,
profitable portfolio of alternative energy businesses.
Safe Harbor Statement
Safe Harbor statement under the Private Securities
Litigation Reform Act of 1995: EVGI encourages those
interested in our Company to rely only on information included in
our filings with the United States Securities and Exchange
Commission which can be found at www.sec.gov.
Statements released by Eco Ventures Group, Inc. that are not purely
historical are forward-looking within the meaning of the "Safe
Harbor" provisions of the Private Securities Litigation Reform Act
of 1995, including statements regarding the company's expectations,
hopes, intentions, and strategies for the future to include all
those of its intended acquisition of Energiepark Suptitz, GmbH.
Investors are cautioned that forward-looking statements involve
risk and uncertainties that may affect the company's business
prospects and performance. The company's actual results could
differ materially from those in such forward-looking statements.
Risk factors include but are not limited to general economic,
competitive, governmental, and technological factors as discussed
in the company's filings with the SEC on Forms 10-K, 10-Q, and 8-K.
The company does not undertake any responsibility to update the
forward-looking statements contained in this release.
Contact
Eco Ventures Group, Inc.
7432 E. Highway 50, Suite 101
Groveland FL 34736
Phone: (352) 557-4830
Email: info@ecoventuresgroup.com
Investor Contact:
Mirador Consulting
Frank Benedetto
Tel: (561) 989-3600
SOURCE Eco Ventures Group, Inc.