Jan 9 2010
GreenHouse Holdings, Inc., an innovative green solutions provider (“GreenHouse” or the “Company”), today announced that it has gone public via a reverse merger with Custom Q, Inc. (OTCBB:CTMQ).
On January 7, 2010, GreenHouse acquired Custom Q, Inc., in accordance with an Agreement and Plan of Share Exchange (the “Exchange”), whereby GreenHouse exchanged all of its issued and outstanding capital stock in exchange for 19,800,000 shares of common stock, upon giving effect to a five-for-one forward split, of which the company is in the process of applying. Simultaneously with the closing of the share exchange, the company completed a first closing of a private placement financing for gross proceeds of $475,000 with accredited investors. Upon effectiveness of the five for one forward split as well as the cancellation of 4,000,000 shares held by the former majority shareholder of Custom Q, Inc., there will be a total of 21,316,667 shares outstanding.
Also in connection with the share exchange, Custom Q changed its name to GreenHouse Holdings, Inc. The Company intends to apply for a change of its stock symbol on the Over the Counter Bulletin Board to reflect this amendment.
In connection with the acquisition, the company appointed John Galt as Chairman of the Board of Directors. The company also appointed Chris Ursitti as Chief Executive Officer and a director and Russ Earnshaw as President and a director, and Justin Farry as Chief Financial Officer. Sean Entin was appointed as the Chief Marketing Officer of the company as well as a director.
“We are delighted to complete this transaction and become a public company,” said Chris Ursitti, GreenHouse CEO. “The going public transaction provides a strong financial foundation with enhanced access to capital and will further GreenHouse’s strategy of taking a leadership position in green solutions, including large-scale ethanol production and green building services.”
Source: http://www.greenhouseintl.com/