Premier Alliance Announces Closing of GreenHouse Holdings Acquisition
March 05 2012 - 2:22PM
Marketwired
Premier Alliance Group, Inc. (OTCBB: PIMO), a professional services
company focused on business and technology advisory and consulting
services, announced today that it has closed its acquisition of
GreenHouse Holdings, Inc. (OTCBB: GRHU). GreenHouse has merged with
a newly formed subsidiary of Premier and became a wholly owned
subsidiary of Premier.
"We are excited to announce the closing of this acquisition and
achievement of this key milestone," said Mark Elliott, CEO of
Premier Alliance. "We are pleased to add GreenHouse to our energy
platform as this represents a major growth opportunity for the
combined company. GreenHouse has an exceptional reputation for
creativity, quality and customer service that has resulted in
long-term relationships with well-known customers within the green
energy space. We look forward to deepening our customer
relationships and to sharing operational expertise between the
companies, thereby enhancing the capabilities Premier Alliance can
now provide."
The exchange ratio of shares of Premier Alliance for shares of
GreenHouse is calculated to be 0.13954 of a Premier Alliance share
for one GreenHouse share. In total Premier is issuing 7,114,315
shares of common stock, 1,334,667 of which will be held in escrow
until the achievement of certain operation goals and in connection
with certain indemnification obligations of GreenHouse.
About Premier Alliance Group, Inc.
Premier Alliance Group, Inc. (OTCBB: PIMO) is a leading provider
of business and technology advisory and consulting services and
solutions. Practice areas of expertise encompass Governance, Risk
& Compliance (GRC), Business Performance & Technology, and
Finance & Accounting as we assist clients with Risk Management,
Compliance, Mergers & Acquisitions, Organizational
Effectiveness, Project/Program Management, Information Management,
Architecture and Software Development. Premier Alliance Group is
headquartered in Charlotte, NC. For more information, visit
www.premieralliance.com.
About GreenHouse Holdings, Inc.
GreenHouse Holdings is a leading provider of energy efficiency
and sustainable facility services and solutions. The company
audits, designs, engineers and installs solutions and technologies
that enable clients to reduce their energy costs and carbon
footprint. Target markets for energy solutions include government
and military, as well as commercial and industrial markets. In
addition, the company develops and designs rapidly deployable,
sustainable facilities primarily for use in disaster relief and
security in austere regions. For more information visit:
www.greenhouseintl.com or follow GreenHouse on Twitter
@greenhouseintl.
Safe Harbor Statement Certain information contained in this
press release may be forward-looking. Actual results might differ
materially from any forward-looking statements contained in this
press release. Such forward-looking statements involve known and
unknown risks, uncertainties and other unknown factors that could
cause the actual results of Premier Alliance Group to be materially
different from any future results expressed or implied by such
forward-looking statements. In addition to statements which
explicitly describe such risks and uncertainties, readers are urged
to consider statements labeled with the terms "believes," "belief,"
"expects," "intends," "anticipates" or "plans" to be uncertain and
forward-looking.
Investor Relations Contact: Jeff Ramson ProActive Capital
Resources Group 212-792-4321 jramson@proactivecrg.com