BROOKSVILLE, FLORIDA--(Marketwire - 04/13/11) - Skybridge Technology Group Inc. (PINK SHEETS:SKGO - News)(www.skybridgetechgroup.com) is pleased to report that after months of negotiations the long awaited merger with Textraw International (www.textrawinternational.com) has been successfully completed. SKGO and Textraw is ready to roll out its product onto the US market as SKGO subsidiary.
After a year of negotiations, and seeking suitable financing SKGO President/CEO Jeff Burns announced that, "The ink is dry, and that Textraw International joined SKGO's 'green team'. SKGO management feels that this merger and the new laws being passed up and down the American east coast that restrict the use of natural pine needles as landscaping, represent a great opportunity for SKGO, and in our opinion will offer a great market potential for Textraw product."
"We are glad that the negotiations and financing had been completed and now behind us. Textraw under SKGO guidance intends to restore its USA distributorship nationally. We are ready to get on with our business with this new promising subsidiary. With the new laws sweeping across the US, we expect this product to deliver contracts on this new market niche."
"Fires throughout the United States have caused many state and local fire marshalls to re-evaluate building codes and restrict the use or storage of pine straw in proximity to buildings. One replacement for natural pine straw has been the new synthetic pine straw - SKGO's Textraw."
Textraw is made with recycled post-consumer scrap recovered from plastic milk bottles and appears identical to fresh, natural straw. It maintains its color and fresh appearance for many years, eliminating the need for biannual replacement. Since Textraw doesn't decompose, but maintains soil breathability, it doesn't create a problematic pest-attracting environment and is free of weed seeds, mold spores and mildew.
SKGO and Textraw are pleased to begin their new journey together and will update investors and followers of any new developments, and corporate progress shortly and frequently.
Safe Harbor Statement
Information in this news release may contain statements about future expectations, plans, prospects or performance of Skybridge Technology Group Inc. that constitute forward-looking statements for purposes of the Safe Harbor Provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be," "expects," "may affect," "believed," "estimate," "project" and similar words and phrases are intended to identify such forward-looking statements. Skybridge Technology Group Inc. cautions you that any forward-looking information provided by or on behalf of Skybridge Technology Group Inc. is not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind. Skybridge Technology Group Inc.'s actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond Skybridge Technology Group Inc.'s control. In addition to those discussed in Skybridge Technology Group Inc.'s press releases, public filings, and statements by Skybridge Technology Group Inc.'s management, including, but not limited to, Evader, Inc.'s estimate of the sufficiency of its existing capital resources, Skybridge Technology Group Inc.'s ability to raise additional capital to fund future operations, Skybridge Technology Group Inc.'s ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities, and in identifying contracts which match Skybridge Technology Group Inc.'s capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. Skybridge Technology Group Inc. does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.
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