Go Green Global Technologies to Acquire Assets of Sonical SRL
Go Green to own Sonical SRL's existing commercial operations and all intellectual property
Nov 26, 2014, 08:00 ET
OXFORD, Conn., Nov. 26, 2014 /PRNewswire/ -- Go Green Global Technologies Corp. "Go Green", (OTC Pink: GOGR), an innovative U.S. water and fuel technology licensing, marketing and development company, today announces that it has signed an agreement with Mario Pandolfo, inventor of the Sonical™ device, to acquire all the assets of his Italian company Sonical SRL. Included in the acquisition will be all SonicalTM related patents, manufacturing equipment, raw materials and Dr. Pandolfo's existing commercial activity.
"We are looking forward to having Dr. Pandolfo join the day to day management of Go Green. While we have always worked closely with Sonical SRL it has been a separate operation. With this acquisition we will bring the full portfolio of Sonical™ intellectual property under the Go Green company. The existing European focused Sonical SRL revenue stream will complement the current revenue pipeline that Go Green is currently developing in the Americas," said Paul Murdock, CEO.
Mark Del Priore, CFO commented, "This agreement is the culmination of many years of cooperation between the companies. While Dr. Pandolfo has always been a founder of Go Green his European business has maintained certain autonomy. Now we will grow the company together as one entity."
Dr. Pandolfo said, "I believe that Go Green is the company to take my technology and grow it globally. The exponential growth of distribution is necessary when you consider the massive worldwide potential. I look forward to working with the Go Green management team."
The acquisition of the assets will be completed during the 1st quarter of 2015. All manufacturing of Sonical™ devices will transition from Italy to the United States. This transition will be completed in phases so as to not interrupt deliveries to customers.
Paul Murdock, President and COO
About Go Green Global Technologies Corp.
Go Green Global Technologies Corp. (OTC Pink: GOGR) is a U.S. water and fuel technology licensing, marketing, manufacturing and development company. Through its wholly owned subsidiary, Go Green Technologies Corp., it provides solutions worldwide utilizing the proprietary patented Sonical™ technology for both non-chemical water treatment and fuel combustion applications. The company is a leader in the emerging Pulsed-Power technology sector and has a portfolio of intellectual property that currently includes three United States patents and NSF/ANSI, UL, and CSA certification. Since inception, the company has focused on developing and marketing innovative technologies that lead to a cleaner and more efficient planet. You are invited to visit www.gogreentechcorp.com for additional information.
Safe Harbor Statement
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan," or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.
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SOURCE Go Green Global Technologies Corp.
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