AccelPath Provides Merger Update and Announces Energy Innovative Products'
Intent to Acquire New Jersey Based Energy Engineering and Services Company
NEW YORK, Nov. 26, 2013
NEW YORK, Nov. 26, 2013 /PRNewswire/ --AccelPath, Inc.(OTN: ACLP) announced
today that they, and Energy Innovative Products (EIP), are in the final stages
of completing the work necessary to fully consummate the proposed merger
between the two companies, originally announced October 28, 2013. ACLP and
EIP are working swiftly and deliberately to complete the different facets of
the merger transaction, including finishing their respective audits to satisfy
the SEC requirements for filing Form 8-K.
In addition, ACLP announced today that Energy Innovative Products has signed a
letter of intent to acquire 100% of the assets, existing business, sales
pipeline and current work in progress of Energy Edge Group, LLC (EEG). The
intended acquisition would immediately establish EIP's planned energy services
division as a significant operator in the energy efficiency engineering,
construction and services arenas.
"The anticipated acquisition of Energy Edge Group, LLC signals the first of
what we expect to be many synergistic acquisitions designed to quickly and
systematically further the growth of our business," stated Scott Caputo,
President of EIP. "EEG brings extensive industry expertise, an impressive
sales pipeline and revenues of over $360,000 just this month with another
$850,000 in revenues expected next month."
Gilbert Steedley, the interim CEO of AccelPath added,"I am very pleased with
the rapid progress we are making toward the consummation of our merger with
EIP and I am very encouraged by the signing of the EIP/ EEG letter of intent.
Strategic acquisitions of companies like Energy Edge Group can add
significant, immediate value to our company and ACLP shareholders."
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
This press release may contain forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. These statements
relate to future events or AccelPath's future financial performance. Any
statements that are not statements of historical fact (including without
limitation statements to the effect that the Company or its management
"believes", "expects", "anticipates", "plans", "intends" and similar
expressions) should be considered forward looking statements that involve
risks and uncertainties which could cause actual events or AccelPath's actual
results to differ materially from those indicated by the forward-looking
statements. There are a number of important factors that could cause
AccelPath's actual results to differ materially from those indicated by the
forward looking statements, including those factors described under "Risk
Factors" in the Company's periodic reports filed with the U.S. Securities
Exchange Commission, including its Annual Report on Form 10-K. In light of the
significant risks and uncertainties inherent in the forward-looking statements
included herein, the inclusion of such statements should not be regarded as a
representation by the Company or any other person that the objectives and
plans of the Company will be achieved. Accordingly, you are cautioned not to
place undue reliance on forward-looking statements. The forward-looking
statements contained in this press release are made as of the date hereof and
may become outdated over time. AccelPath undertakes no obligation to publicly
update or revise any forward-looking statement as a result of new information,
future events, and changes in expectation or otherwise, except as required by
SOURCE AccelPath, Inc.
Contact: Gil Steedley, AccelPath Inc., Info@AccelPath.com
Press spacebar to pause and continue. Press esc to stop.