Monday, August 10, 2009
310 Holdings Inc. Announces an Impending Letter of Intent
NIAGARA FALLS, Ontario, Aug. 10, 2009 (GLOBE NEWSWIRE) -- 310
Holdings Inc. (OTCBB:
TRTN) has completed its due diligence analysis on a profitable
chemical company and anticipates executing a Letter of Intent for
its impending acquisition in the immediate future. This
well-managed company currently has annualized revenues in excess of
$7 million, is growing at a robust rate and has already exceeded
revenues by 41% compared to the last fiscal year. Its customer base
includes many prominent national and local retailers. No
difficulties with financing or integration planning are
anticipated. Full details will be announced upon completion of the
LOI.
John Bordynuik, 310 Holdings Inc. President and CEO, stated, "We
feel that this acquisition will be a perfect complement to our
growth model as demand for its patented and proven product is
expected to continue to accelerate, while maintaining an excellent
profit margin. Also, we will be able to share chemists, marketing,
and sales teams, as well as have an additional site with ample room
to set up Plastic 2 Oil processors. Our Company will continue to
focus on our strong internal growth divisions as well as make
synergistic acquisitions that will dynamically grow shareholder
value, while creating a win-win situation for all
participants."
A detailed announcement on the Company's Plastic 2 Oil division
will be forthcoming shortly.
About 310 Holdings Inc.
John Bordynuik purchased 63% of the issued and outstanding
shares of 310 Holdings on April 23, 2009. Subsequently, John
Bordynuik was appointed President and CEO of the Company.
On July 16, 2009, 310 Holdings Inc. acquired certain assets of
John Bordynuik Inc., including all of its intellectual property,
its custom tape processing hardware, its Swahili data migration
system, fixed assets, and its current customer base subject to
certain closing conditions and adjustments.
For more information, please see http://www.310holdings.com and http://www.johnbordynuik.com.
Forward-Looking Statements
This press release contains statements, which may constitute
"forward-looking statements" within the meaning of the Securities
Act of 1933 and the Securities Exchange Act of 1934, as amended by
the Private Securities Litigation Reform Act. The Private
Securities Litigation Reform Act of 1995 (PSLRA) implemented
several significant substantive changes affecting certain cases
brought under the federal securities laws, including changes
related to pleading, discovery, liability, class representation and
awards fees and of 1995. Those statements include statements
regarding the intent, belief or current expectations of 310
Holdings Inc., and members of its management as well as the
assumptions on which such statements are based. Prospective
investors are cautioned that any such forward-looking statements
are not guarantees of future performance and involve risks and
uncertainties, and that actual results may differ materially from
those contemplated by such forward-looking statements. The Company
undertakes no obligation to update or revise forward-looking
statements to reflect changed assumptions, the occurrence of
unanticipated events or changes to future operating results.
CONTACT: 310 Holdings Inc.
John Bordynuik, President and CEO
john@310holdings.com
Investor Relations
Katie Matkowski
+1 (289) 296-5538
Katie@310holding.com