PALM BEACH, FL--(Marketwired - May 3, 2017) - Q2Power Technologies Inc. (
"This extended exclusivity period through September 2017 renews the letter of intent we signed with ERTH last summer, and demonstrates the sincere interest of the parties to pursue a combination of our companies," stated Q2's CEO, Christopher Nelson. "Now that we have completed our initial round of funding, we have the ability to bring this transaction through definitive agreements and financial audit in contemplation of a closing later in 2017."
"As we previously mentioned, ERTH has a 20-year history in compost manufacturing, and is considered a thought leader in the development and sale of new sustainable soil products. We believe that the ERTH Companies as a platform can support additional acquisitions in the future and propel us into a leading position in this space in the near future," Mr. Nelson continued.
ERTH owns and operates a composting facility in Plains, GA, to which it diverts biosolids from nine waste water treatment plants that would normally go to landfill, and with this recycled feedstock produces over 75,000 cubic yards per year of Class A compost sold to local farms, sod farms, retail bulk yards, and golf courses under the brand name ERTH Food®. Exceptional Products sells engineered soils produced from ERTH Food® compost to the construction and landscape industry, specifically blended for their structural, water and nutrient retention, and other LEED building requirements.
About Q2Power: Q2Power seeks to become a leading manufacturer of compost and engineered soils from recycled waste for the agriculture, horticulture, construction and infrastructure sectors. Through a plan of acquisitions, strategic alliances, and organic growth focused on creating and marketing quality beneficial reuse end products, Q2 seeks to build the preeminent compost and soil company in North America. The Company recently completed the first phase of a bridge financing that will expedite this business plan and operational transition, and has begun to wind-down its previous waste-to-energy R&D operations. Q2 intends to file its 2016 10-K and 10-Q for the first quarter of 2017 over the next month to regain "current filing" company status and OTCQB listing.
Legal Notice Regarding Forward-Looking Statements: This news release contains "Forward-looking Statements". These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. We disclaim any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to our ability to fully commercialize our technology, risks associated with changes in general economic and business conditions, actions of our competitors, the extent to which we are able to develop new products and markets, the time and expense involved in such development activities, the ability to secure additional financing, the level of demand and market acceptance of our products, and changes in our business strategies.