Acquisition Growth Opportunity and Potential 4 Year Revenue of Over $62 Million
WEST CONSHOHOCKEN, PA--(Marketwire - 06/07/11) - Environmental Infrastructure Holdings Corp (OTC.BB:EIHC - News) today announced that its Board of Directors and executive officers have entered into a three month lock-up agreement as of June 3, 2011 which will effectively lock up a total of 36 million shares of the Company's stock owned by them collectively or 43% of the Company's 83 million total shares outstanding for the period commencing as of June 1, 2011 until September 1, 2011 with the option to extend the period. The Agreement provides that each Director and Officer will not directly or indirectly trade or sell or otherwise transact their portion of the 36 million common shares of the Company for the stated period. One exception has been made in behalf of the Company's President, Kurt Given, whose lock up allows him to sell as of July 1, 2011 a limit of $1000 per day in Company shares up to 700,000 common stock shares for accumulated deferred compensation.
"The purpose of the lock up agreement is to foster long term interest in our stock among our existing and new shareholders and investors. Management and our Board are strongly committed to our acquisition model and long term growth," said Michael Parrish, Company Chairman.
Kurt Given, President of the Company's wholly owned subsidiary, Equisol LLC, stated, "As CEO and co-founder of Equisol LLC, I have made a long term personal and professional commitment to the success of Equisol and our parent company, Environmental Infrastructure Holdings Corp.. With the recent acquisition of Tower Turbines Inc. we are continuing to meet the mandate of our acquisition model and we are confident that the potential revenue opportunity over $62 million as projected by the former owners of Tower Turbines Inc. over the next four years is genuinely within our reach."
About Environmental Infrastructure Holdings Corp.
Environmental Infrastructure Holdings (OTC.BB:EIHC - News) is the parent company of diverse environmental manufacturing, engineering and services companies. Currently, EIHC has one subsidiary, Equisol, LLC, as well as investments in various joint ventures and partnerships.
Recognized in 2008 by INC Magazine as the 7th fastest growing private environmental services company in America, Equisol, LLC, is a unique equipment solutions provider specializing in the water and wastewater industry. Its team of top-rated engineers specializes in automation equipment and services across multiple industries where water use and automation are important.
Forward-Looking Statements
This press release contains forward-looking statements, which represent the Company's expectations or beliefs, including, but not limited to, statements concerning plans, acquisitions, new product development, growth and strategies, which include, without limitation, statements preceded or followed by or that include the words may, will, expect, anticipate, intend, could, estimate, or continue or the negative or other variations thereof or comparable terminology. Any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. These statements by their nature involve substantial risks and uncertainties, some of which are beyond the Company's control, and actual results. Readers should carefully review the risk factors described in other documents the Company files from time to time with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2010, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K.
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