Clinton Township, Michigan--(Newsfile Corp. - December 16, 2020) - Resgreen Group International, Inc (OTC PINK: RGGI), a leading mobile robot company, today announced that it has executed on a signed letter of intent with California based RB Capital Partners, Inc. ("RB Capital") to receive $500,000+ of financing over the next six months. The Company has already received the first tranche of $100,000 from RB Capital as the demand for its UV-C products and Autonomous Mobile Robot (AMR) is growing.
Much of this funding is dedicated to the purchase of inventory needed to finish assembly of the Wanda II and Pull Buddy orders, as well as to prepare additional equipment inventory for impending sales that are anticipated from the early interest we have received.
CEO, Parsh Patel stated, "I am overly excited to have the fine folks with RB Capital Partners as true partners. I see the terms of the note as an extraordinarily strong vote of confidence from them of the future value of the company. Consequently, this will also mean that we will not be raising any capital from the REG A registration at this time."
To watch video of Wanda disinfecting mobile robot in action, please visit https://youtu.be/KFqjpxI9Rgc.
Cannot view this video? Visit:
About Resgreen Group International, Inc.:
RGGI is a leading developer of Artificial Intelligence Robotics (AIRs), Autonomous Mobile Robots (AMRs), and Automatic Guided Vehicles (AGVs). RGGI's highly skilled engineers have years of experience in the material handling and robotics industries, which has led to significant intellectual property for the company. RGGI also provides consulting services including backend operational oversight, material handling assessment, work-flow analysis, and steady state yield management using artificial intelligence, technology and management systems. For more information visit http://resgreenint.com.
Safe Harbor Statement: Safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as Resgreen Group, RGGI or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions, or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. Resgreen Group International Inc.
Contact: Sarah Carlson
ResGreen Group International, Inc.
Parashar (Parsh) Patel, President and CEO
SOURCE: Resgreen Group International Inc.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/70405