Dec 7 2010
Blue Gold Beverages, Inc. (PINK SHEETS:BGBV) is pleased to announce that the company has gone to contract for the purchase of One Hundred Percent (100%) of the common shares of TY Recycling, Inc., a Canada based Polyethylene Terephthalate (PET) and Nylon Recycling company.
The company is being acquired for Ten Million Shares (10,000,000) of restricted common stock of Blue Gold Beverages, Inc. The transaction has an agreed upon value of $600,000.
The Recycling contracts and their total revenue along with the net profit value to Blue Gold Beverages will be announced as soon as the transaction is completed. It is the intention of Blue Gold Beverages, Inc. to merge TY Recycling into its' operations by the 3rd day of December.
With the definitive agreement executed, Daniel Solomita, President and CEO stated, "We are extremely pleased to enter the recycling industry as a part of our company's overall commitment to improve the environment and reduce the company's carbon footprint. We welcome the previous owners of TY Recycling to the BGBV shareholder group and appreciate their confidence in us to extract maximum value from these special resources. This all stock deal reflects the value placed on BGBV and it beverage business. Employees of both companies are coordinating efforts to ensure a smooth transition. We will be releasing reports on the positive economic impact of this acquisition to our company and its' shareholders."