Green Innovations Subsidiary Enters Negotiations for Worldwide Expansion of American Hygienics Corporation Licensing Agreement
MIAMI, April 8, 2013 /PRNewswire/ -- Green Innovations Ltd. (OTCQB: GNIN) (OTCBB: GNIN) ("Green Innovations" or the "Company") is pleased to announce that its wholly-owned subsidiary, Green Hygienics, Inc. ("Green Hygienics"), has entered into negotiations with American Hygienics Corporation ("AHC") for an expansion of its current North American exclusive licensing agreement to include the potential distribution of AHC eco-branded and patented products in various other strategic worldwide locations.
"Following our recent acquisition of the Clearly Herbal brand trademarks, the expansion of our relationship with AHC would be a logical next step for us to grow our new brand and distribution on a more international basis," stated Bruce Harmon, CEO of Green Innovations. "This proposed expansion with AHC is a continuation of the ongoing growth mandate set forth by our Board of Directors and industry expert Strategic Advisors. We are confident that, with their experienced input and support, we will be able to take full advantage of this fantastic opportunity to grow our brands into additional high-growth markets beyond North America."
Founded in 2001, American Hygienics Corporation was established as one of the first foreign-owned exclusive wet wipes manufacturers in China and now operates a state of the art FDA accepted facility in Shanghai. Through an agreement with AHC, Green Hygienics Inc. is currently the exclusive licensed North American distributor of American Hygienics Corporation's 100% tree-free bamboo-based product line, including personal care and paper-based goods.
The Company expects that negotiations between the parties will continue for several weeks prior to finalization of any potential agreements and signing of formal documents. Further details regarding any potential transactions are expected to be discussed in future press releases.
About Green Innovations Ltd.
Green Innovations Ltd., through its wholly-owned subsidiary Green Hygienics, Inc., is the exclusive licensed North American distributor of American Hygienics Corporation's 100% tree-free bamboo-based product line, including personal care and paper-based goods. The Company provides consumers the opportunity to enjoy high-quality and performance eco-friendly goods from dedicated experts that have been producing bamboo products for over a decade, along with the cost-benefit of local raw material manufacturing, and the satisfaction of knowing that by using these products they are doing their part to reduce their carbon footprint and to continue the movement towards a more healthy and sustainable planet.
For further information regarding Green Innovations Ltd., contact:
Green Innovations Investor Relations
(866) 947-5567 (Toll-free)
This press release contains "forward-looking statements". Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, and specifically references to the potential expansion of the licensing agreement with AHC and potential selling products outside of North America. The reader can identify these forward-looking statements by forward-looking words such as "may," "will," "expect," "potential," "anticipate," "forecast," "believe," "estimate," "project," "plan," "continue" or similar words. The reader should read statements that contain these words carefully because they discuss future expectations, contain projections of future results of operations or of financial condition, or state other forward-looking information. Forward-looking statements include, but are not limited to, statements regarding potential products, customers, revenues, expansion efforts, and future plans and objectives of Green Innovations Ltd. ("Green Innovations"). The risk factors listed in our disclosure documents and the cautionary language on this website provide examples of risks, uncertainties and events that may cause actual results to differ materially from the expectations and projections described by Green Innovations in its forward-looking statements. Actual results relating to, among other things, product launch, sales, customer acceptance and market share could differ materially from those currently anticipated in such statements. Factors affecting forward-looking statements include: consumer preferences, competition from more established brands, ability to develop market share; changes in the operating costs; changes in economic conditions, foreign exchange and other financial markets; changes of the interest rates on borrowings; hedging activities that Green Innovations develops or produces; changes in the investments levels; litigation; legislation; environmental, judicial, regulatory, political and competitive developments in areas in which Green Innovations operates; technological, mechanical and operational difficulties encountered in connection with Green Innovations' development activities; and labor relation matters and costs. The reader should refer to the risk disclosures set out in the periodic reports and other disclosure documents filed by Green Innovations from time to time with the Securities and Exchange Commission and other regulatory authorities.
SOURCE Green Innovations Ltd.