Carbon Green Inc. (OTC.BB: CGNI) has acquired all of the shares of Greenwood Commerce Ltd. from CBp Carbon Industries, Inc. Carbon Green acquired all issued and outstanding common shares of Greenwood in exchange for issuing 33,346,262 shares of Carbon Green's common stock and 1,056,041 share purchase warrants to CBp Carbon.
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Of the total number of share purchase warrants 868,541 of the warrants enable the holder to purchase 1 share of Carbon Green common stock for $2.50 per share and 187,500 of the warrants enable the holder to purchase 1 share of Carbon Green common stock for 2.00 per share, until no later than January 15, 2013.
About Carbon Green
As a result of the acquisition of Greenwood, Carbon Green holds the worldwide exclusive ownership rights to, among other things, a protected proprietary technology that converts the by-products of tire pyrolysis (heating in the absence of oxygen) into: (i) recovered steel; (ii) a #2 diesel equivalent oil which can also be employed to generate green electricity in many countries; (iii) a patented nano-particle compound known as Carbon Green(TM) that is a tire industry-tested and accepted competitive substitute for commercial carbon black; and (iv) a clean-burning gas that can be used to provide power to the Company's processing plant.
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