Energy Edge Completes Stock Purchase Agreement with Dutchess Equity Fund for Union Dental Shares
BRIDGEWATER, N.J., July 30, 2012 /PRNewswire/ -- Energy Edge Technologies Corp. (OTC: EEDG) has announced the closing of a Stock Purchase Agreement with Dutchess Private Equity Fund to acquire Dutchess' entire stock and warrant position in Union Dental Holdings, Inc. (OTC: UDHI). The net effect of the transaction is that EEDG will become the second largest UDHI shareholder with 20 million shares of unrestricted stock and a cashless warrant to purchase 40 million more.
EEDG's purchase marks the first step in the forging of a strong working relationship between EEDG and UDHI. Both companies presently have partnership and distribution agreements with Drinkable Air and intend to greatly grow that relationship in the form of either a joint venture or soon to be formed subsidiary of EEDG. Union Dental reported revenues of $4,007,982 with a net profit of $177,026 for the last four quarters through March of 2012. http://www.uniondentalcorp.com/
"This will go down as one of the most significant game-changing days in the history of Union Dental," said UDHI's founder, CEO, and President, Dr. George Green . "We are blessed to welcome our new partners into the Union Dental family. Energy Edge has proven to be a spectacular judge of emerging business opportunities and we can't wait to merge our talents and explore new horizons together."
"Union Dental represents an outstanding investment for EEDG as well as the perfect business partner for several of our new ventures and initiatives," concluded Dr. Benjamin Chavis , Spokesperson for EEDG. "Dentists have become the #1 domestic target market for Drinkable Air's patented ozonated water purification system and UDHI is already capitalizing on the explosive need for this product in their industry. Dr. Green is one of the great innovators in his field and we expect to have several more announcements regarding our expanding relationship with UDHI in the coming weeks." www.energyet.com
Media contact: Glen Calder 561-750-9800 x216; firstname.lastname@example.org
Forward Looking Statements
This release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include fluctuation of operating results, the ability to compete successfully, and the ability to complete before-mentioned transactions. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events, or changes to future operating results.
SOURCE Energy Edge Technologies Corp.
Browse our custom packages or build your own to meet your unique communications needs.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.