GreenHouse Holdings, Inc. Announces Stockholder Approval of Merger With Premier Alliance Group, Inc.
March 02 2012 - 1:22PM
Marketwired
GreenHouse Holdings, Inc. (OTCBB: GRHU), a leading provider of
energy efficiency solutions and sustainable infrastructure products
(the "Company"), today announced that stockholders of the Company
voted overwhelmingly at the Company's Special Meeting of
Shareholders held on February 29, 2012 to approve the merger of the
Company with and into a newly formed subsidiary of Premier Alliance
Group, Inc. ("Premier") and become a wholly owned subsidiary of
Premier.
Approximately 95% of the shares voting at the special meeting of
stockholders voted in favor of the adoption of the Agreement and
Plan of Merger, which represented approximately 65% of the
Company's total outstanding shares of common stock as of January
30, 2012, the record date for the special meeting.
"We are extremely pleased in our shareholders' decisive approval
of the merger with Premier Alliance Group," stated John W. Galt,
Chief Executive Officer and Chairman. "Management believes that the
merger presents a strong growth opportunity for the Company and
provides an excellent platform for increased earnings. Our strong
governmental relationships coupled with Premier's industry
expertise will allow us to leverage new contract awards and expand
our market presence. We expect to complete the integration of both
companies immediately, and look forward to commercializing projects
from our pipeline shortly. Going forward, we anticipate a smooth
transition and expect to increase revenue, expand margins and
improve overall shareholder value."
Each of the parties is a reporting company under the Securities
Exchange Act of 1934 and its reports can be found by going to
www.sec.gov, and then search for companies, and inserting name of
Premier Alliance Group, Inc. and/or GreenHouse Holdings, Inc.
About GreenHouse Holdings, Inc.
GreenHouse Holdings is a leading provider of energy efficiency
and sustainable facilities solutions. The company designs,
engineers and installs disparate products and technologies that
enable its clients to reduce their energy costs and carbon
footprint. Its target markets for energy efficiency solutions
include government and military, as well as commercial, residential
and industrial markets. In addition, the company develops, designs
and constructs rapidly deployable, sustainable facilities primarily
for use in disaster relief and security in austere regions. For
more information, please visit: www.greenhouseintl.com or the
GreenHouse YouTube channel at http://www.youtube.com/greenhouseintl
or follow GreenHouse on Twitter @greenhouseintl.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains forward-looking statements that
reflect the Company's current expectation regarding future events.
Actual events could differ materially and substantially from those
projected herein and depend on a number of factors. Certain
statements in this release, and other written or oral statements
made by GreenHouse Holdings, Inc. are "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. You should not
place undue reliance on forward-looking statements since they
involve known and unknown risks, uncertainties and other factors
which are, in some cases, beyond the Company's control and which
could, and likely will, materially affect actual results, levels of
activity, performance or achievements. The Company assumes no
obligation to publicly update or revise these forward-looking
statements for any reason, or to update the reasons actual results
could differ materially from those anticipated in these
forward-looking statements, even if new information becomes
available in the future. Important factors that could cause actual
results to differ materially from the company's expectations
include, but are not limited to, those factors that are disclosed
under the heading "Risk Factors" and elsewhere in documents filed
by the company from time to time with the United States Securities
and Exchange Commission and other regulatory authorities.
Contact: GreenHouse Holdings, Inc. Investor Relations
Alliance Advisors, LLC Chris Camarra Email Contact Media
Relations Rubenstein Public Relations Michelle Manoff Tel:
212-843-8051 Email: Email Contact