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30.05.2014 19:25
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Solanbridge Group Inc Announces LOI to Merge with Shamrock Geoscience Pty Ltd.
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PR Newswire
HOUSTON, May 30, 2014
HOUSTON, May 30, 2014 /PRNewswire/ -- Solanbridge Group Inc (OTC: SLNX) is pleased to announce that on May 29, 2014, SLNX signed a Letter of Intent (LOI) to merge with Shamrock Geoscience Pty Ltd., a South African construction and engineering firm. The LOI stipulates that the transaction will be an all-stock transaction where SLNX receives a 25% position in Shamrock's U.S.-based corporation and all of Shamrock's subsidiaries. The LOI further states that all common stock shares issued will be restricted common stock shares.
Charles R. Shirley, Managing Director of Solanbridge, stated "We are pleased to be working with Shamrock. We feel that there are many benefits to both parties to this transaction. Shamrock has built roads and buildings, and provided engineering services in several countries throughout the world and has developed a great reputation. We look forward to their entry into the North American market, specifically the State of Texas. They will be able to provide best of class construction and engineering services to the medical marijuana market that SLNX is developing."
Shamrock has recently completed two road construction projects in India for the Government of Meghalaya. The two projects provided Shamrock with a little over $5.7 million USD in gross revenue for fiscal year 2013/2014 so far. Charles Van Houten, Director of Shamrock Geoscience, stated "There is great growth in the Texas market in terms of new office buildings, homes, and roads and Shamrock is looking forward to pursuing the various opportunities available in the Texas economy." As a former 17 year resident of Texas working in the Federal Government arena, Mr. Van Houten brings a wealth of knowledge in Proposal Development and Business Development with organizations like KBR, DynCorp International, Fluor and Federal Agencies like US Army, US Army Corp of Engineers, and US Air Force. Internationally Mr. Van Houten has worked for a large multi-billion dollar German defense contracting company providing construction and civil engineering proposals to support our troops in Germany, Iraq, and Afghanistan in addition to support for NAMSA, Deutsche Bundeswehr, British Army, French Army and government/regional sectors in Iraq.
The Solanbridge Group also announces the moving of our restaurant operations from Melbourne Beach to Melbourne. The move will place us in a higher traffic location. Our restaurant was recently awarded TripAdvisor's Certificate of Excellence 2014. Our restaurant has won this award for three straight years.
About Solanbridge Group Inc
Solanbridge Group Inc is based in Spring, Texas and is a diversified holding company looking to expand into the medical marijuana industry by developing commercial grower's licenses in all Canadian medical marijuana jurisdictions, with the partnership of First Nations and developing CBD-infused products in Colorado and Nevada through its subsidiary Tasty Greenz LLC. SLNX's other subsidiary, David's Steak and Seafood, Melbourne Beach, Florida, is a classic, upscale steak house, which presents polished dining in an atmosphere of timeless elegance, offering guests the finest cuts of choice USDA meats, and fresh seafood.
About Shamrock Geoscience Pty Ltd.
Shamrock Geoscience Pty Ltd. is an internationally established and acclaimed Construction and Civil Engineering solutions provider focusing on Building Design and Construction, Soil Stabilization and Road Construction and Maintenance. Shamrock ensures through our Quality Control System that all work from Shamrock and/or our Subcontractors conforms to Western European and North American Standards. Shamrock and its forerunner entities has been operating in Africa since 2007, the Balkans since 2005 and Western Europe since 2001 in the areas of Building and Warehouse Construction, Road Construction, Soil Stabilization and Industrial Waste Solutions. Shamrock and its progenitors have serviced over 40 contracts to multiple private sector, government and national military sector clients and employs a team of highly skilled and certified Project Managers and Engineers.
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company.
SOURCE Solanbridge Group Inc
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