Bio-Clean International, Inc.
Bio-Clean International, Inc.
Stock Symbol:
BCLE
5412 Bolsa Avenue, Suite D,
Huntington Beach, California 92649
Phone: (714) 373 - 1990
Fax: (714) 373 - 1991
E-mail:
info@biocleaninternational.com
Bio-Clean International
Clients Include:
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NEW CORPORATE DEVELOPMENTS -- NOVEMBER 13, 2009
> Corporate Name To Be Changed To Green Planet And Green Energy Related Name
> Receipt of $1,000,000 Purchase Contract for Our Affiliated Entity,
American Bio-Clean, Inc. To Supply Environmentally Safe,
All-purpose Cleaner to Nature Of Beauty, Inc.
> Agreement To Receive 3,000,000 Restricted Common Shares
From Nature Of Beauty, Inc., n/k/a Bio-Clean, Inc., For The Brand Name "Bio-Clean"
November 13, 2009 -- Huntington Beach, California -- MARKETWIRE
Bio-Clean International, Inc. (Stock Symbol:
BCLE)
announced today a number of significant new corporate developments including:
-- Receipt of $1 million contract for its affiliate to supply environmentally-safe, all-purpose cleaner to Nature of Beauty, Inc.
-- Change of name to a Green Planet and Green Energy related name to be determined by management and advisors.
-- Agreement to receive 3 million restricted common shares from Nature of Beauty, Inc., n/k/a Bio-Clean, Inc., for the name "Bio-Clean"
James E. Shipley, President of Bio-Clean International, Inc., stated,
"In August 2009, our affiliated entity, American Bio-Clean, Inc. (ABC), entered into an agreement with Nature of Beauty, Inc. (NUBY), for ABC to supply NUBY with ABC's aqueous-based, environmentally-safe, all-purpose cleaner for bottling and selling into the wholesale and retail markets by NUBY."
"It would be a new market for the product and a new source of revenue for ABC. We are pleased to announce that NUBY has agreed to purchase $1 million of our all-purpose cleaner, with fulfillment beginning in January, 2010."
Also, the company will change its name to a Green Planet and Green Energy related name. The Board of Directors is utilizing Internet and Investment related marketing consultants to develop a dynamic new name that describes the current and future business focus while also capturing the attention and interest of the media and investors. Upon completion of the acquisiton the company will complete the NASD/SEC regulatory process for a name change, new CUSIP number and trading symbol.
Mr. Shipley continued,
"The change to our name and the divestiture transactions that we are announcing today are consistent with our plan to re-focus the company on our core business of providing environmentally-safe responses to issues facing our country and the world."
The company also announced that it will be selling its minority interests in Veterans Training Corporation and Veterans Asset Management to John P. Finn, which it acquired from Mr. Finn in 2008 in exchange for a return of the 400,000 shares of common stock that the company had issued to him for the interests.
On October 29, 2009, the company updated its prior announcement regarding its non-binding letter of intent with NUBY for the potential sales to NUBY of American Bio-Tech Cleaning, Inc., and the rights to the name "Bio-Clean." Today, the company announces that NUBY has agreed to issue to the company 3 million shares of NUBY's common stock for the rights to the name "Bio-Clean."
Although the company has not determined when or if it will sell any of the 3 million shares, distribute any of the proceeds from any sales, or distribute any of the shares as a dividend to its stockholders, if, when, and as such a distribution is permitted pursuant to all relevant corporate, securities, regulatory, and fiduciary requirements, the company set the date of this Press Release, November 13, 2009, as the relevant record date for any such distributions. The company is also announcing the cancellation of the previously announced non-binding letter of intent and the potential agreement to sell American Bio-Tech Cleaning, Inc., to NUBY.
Mr. Shipley concluded,
"Nature of Beauty, Inc., changed its name to Bio-Clean, Inc. (NUBY/BOCL) on October 8, 2009, without any prior notice to us or consent from us. After a series of negotiations, NUBY/BOCL has agreed to issue to us 3 million shares of its restricted common stock for the use of the Bio-Clean name."
Mr. Shipley clarified, "At no time has any of our officers or directors had any ownership or other interest in NUBY/BOCL."
Forward-Looking Statements: A number of statements referenced in this Release, and any other interviews that have been made, are forward-looking statements, which are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995, and within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, and goals, assumption of future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements in this actions may be identified through the use of words such as "expects," "will," "anticipates," "estimates," "believes," or statements indicating certain actions "may," "could," or "might," occur. Such statements reflect the current views of the company's management with respect to future events and are subject to certain assumptions, including those described in this release. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products, services, and technologies, competitive market conditions, successful closing of acquisition transactions and their subsequent integration, the ability to secure additional sources of financing, the ability to reduce operating expenses, and other factors described in the Company's filings with the Pink Sheets. The actual results that the Company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. The Company does not undertake any responsibility to update the "forward-looking" statements contained in this news release.
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