VISTA, Calif., July 8, 2014 /PRNewswire/ -- Eco Building
Products, Inc., (PINK: ECOB) the manufacturer of Eco Red Shield™
treated wood products that protect against fire and mold, today
announced it has entered into a letter of intent to establish a
joint venture with Steelhead Structures, based in Calgary Alberta. Under the terms of the Letter
of Intent (LOI), the Company and Steelhead will create a joint
venture named Eco Red Shield Canada,
Ltd (ERSC), which will be established as part of the Company's
emerging affiliate program. Definitive agreements are
expected to be executed within 30 days. Total revenues to the
Company are expected to be $1.5M in
the first full year of operations. Steelhead has paid a
non-refundable deposit of $10,000 to
the Company pursuant to the terms of the LOI.
ECRS intends to establish 3 coating facilities across Canada,
including the provinces of Alberta, Ontario, and British
Columbia, respectively. ECRS consists of four partners
all with extensive construction industry experience and is expected
to make an impact in the Canadian market.
"We are very excited to join the ECOB team and we all feel that
this will be a very successful venture," said Richard Nutting, Eco Red
Shield Canada's President. "We will help to fill the
requirements brought on by the success of ECOB in the United States while growing the Canadian
market. We have the same problems with mold on lumber and with fire
in buildings under construction, and we agree it's time to stop
pushing these problems under the rug."
ECOB's CEO, Steve Conboy says,
"Growing our Affiliate Network has always been a big part of our
business strategy. We have interviewed many potential partners in
Canada, and it was important for
us to be patient because we had to find the right group that shares
the same vision as we do. This is a very exciting prospective
partnership for us since this group has the same roots as ECOB in
the framing business. Framers recognize the variety of problems
associated with softwood. An ECOB Affiliate in close proximity to
the Canadian Spruce will give us the ability to infiltrate Modular
Factories looking to employ ECOB's mold and fire protection. The
key of this transaction is that the import will be for a finished
goods, ready to be sold directly to end-customers."
About Eco Building Products, Inc.
Eco Building Products, Inc. is a manufacturer of treated wood
products that are protected against fire, mold/mycotoxins, fungus,
rot-decay, wood ingesting insects and termites by our proprietary
eco-friendly chemistry utilizing ECOB WoodSurfaceFilmTM
and FRC™ technology (Fire Retardant Coating). Eco Building
products, "Eco Red Shield"
utilizing patent pending technology is the ultimate in wood
protection, preservation, and fire safety to building components
constructed of wood; from joists, beams and paneling, to floors and
ceilings.
Safe Harbor Statement: This press release may contain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995 (the "Act"). In
particular, when used in the preceding discussion, the words
"believes," "expects," "intends," "plans," "anticipates," or "may,"
and similar conditional expressions are intended to identify
forward-looking statements within the meaning of the Act, and are
subject to the safe harbor created by the Act. Any statements made
in this news release other than those of historical fact, about an
action, event or development, are forward-looking statements.
Forward looking statements involve known and unknown risks and
uncertainties, which may cause the Company's actual results in
future periods to be materially different from any future
performance that may be suggested in this release. ECOB takes no
obligation to update or correct forward-looking statements, and
also takes no obligation to update or correct information prepared
by third parties.
Company Contact
Eco Building Products, Inc.
Phone: 1 888 Red Shld (888.733.7453)
Email: info@ecob.net
Web Site: www.ecob.net
Blog: http://ecob.net/index.php?p=blog
SOURCE Eco Building Products, Inc.