Announcing Completion of Public Merger by Greenway Design Group, Inc. (GDGI.PK)
January 31 2011 - 2:39PM
Marketwired
Greenway Design Group, Inc. (PINKSHEETS: GDGI) announced that in
September 2009 it completed the acquisition of Greenway Design
Group, LLC. The acquisition was later followed by an amendment to
the Company's articles of incorporation to change the Company's
name to Greenway Design Group, Inc. and issuance of a new trading
symbol, GDGI, for the Company's common stock.
"We are very pleased that we completed the merger and the
opportunity to join other publicly-traded companies on the OTC
Market," says Ben Lefrancois, CEO and President of the Huntington
Beach, California-based corporation. "We are now in position to
capitalize on our past success and focus our attention on building
manufacturing capacity and expanding the market reach of
Cool-n-Save."
The Company has developed a technology that uses water mist to
pre-cool air conditioning systems that produces significant
reduction in energy use. Two laboratory studies, one from Tulane
University
(http://www.greenwaydesigns.com/pdf/CNS_Tulane_Study.pdf) and one
from Hong Kong Polytechnic University
(http://www.ibpsa.org/proceedings/BS2009/BS09_2204_2211.pdf), have
concluded that water mist pre-cooling is an efficient and practical
way to reduce energy consumption of air conditioning systems. Field
tests have shown average savings of about 26% with peak savings of
up to 30%.
More than 16,000 Cool-n-Save (www.coolnsave.com) residential
pre-cool do-it-yourself installation kits have been sold. The
Company also markets and manufacturers a high performance
commercial version of the Cool-n-Save pre-cool system that requires
professional installation and maintenance. Both systems feature
Cool Release™, a patented and proprietary water treatment system
that inhibits scaling.
For more information about the company and its products, call
866-680-7846 or visit www.coolnsave.com or
www.greenwaydesigns.com.
FORWARD-LOOKING STATEMENTS
THIS PRESS RELEASE CONTAINS "FORWARD-LOOKING STATEMENTS."
FORWARD-LOOKING STATEMENTS ARE STATEMENTS CONCERNING PLANS,
OBJECTIVES, GOALS, STRATEGIES, EXPECTATIONS, INTENTIONS,
PROJECTIONS, DEVELOPMENTS, FUTURE EVENTS, OR PERFORMANCE,
UNDERLYING (EXPRESSED OR IMPLIED) ASSUMPTIONS AND OTHER STATEMENTS
THAT ARE OTHER THAN HISTORICAL FACTS. THESE FORWARD-LOOKING
STATEMENTS ARE ONLY PREDICTIONS. NO ASSURANCES CAN BE GIVEN THAT
SUCH PREDICTIONS WILL PROVE CORRECT. ACTUAL EVENTS OR RESULTS MAY
DIFFER MATERIALLY. FORWARD-LOOKING STATEMENTS SHOULD BE READ IN
LIGHT OF THE CAUTIONARY STATEMENTS AND RISKS THAT INCLUDE, BUT ARE
NOT LIMITED TO, THE RISKS ASSOCIATED WITH A SMALL COMPANY, OUR
COMPARATIVELY LIMITED FINANCIAL AND MANAGERIAL RESOURCES, OUR
INABILITY TO MARKET AND SELL OUR LIMITED PRODUCT LINE IN SUFFICIENT
VOLUMES THAT MAY ALLOW US TO ACHIEVE AND MAINTAIN PROFITABILITY AND
POSITIVE CASH FLOW, THE UNCERTAINTY OF MARKET TRENDS, THE INTENSE
COMPETITION FACED FROM OTHER CURRENT AND FUTURE TECHNOLOGIES AND
THE UNCERTAINTIES OF COMPETITIVE PRESSURES WE FACE. THESE OR OTHER
RISKS COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THE
FUTURE RESULTS INDICATED OR IMPLIED IN SUCH FORWARD-LOOKING
STATEMENTS. WE UNDERTAKE NO OBLIGATION TO UPDATE OR REVISE SUCH
STATEMENTS.
"Cool-n-Save" and "Cool Release" are registered trademarks of
Greenway Design Group, Inc.
Contact: Ray Wyman Jr communications director Email Contact
866-680-7846, ext 22
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