KNOXVILLE, Tenn., July 5, 2005 (PRIMEZONE) -- Green Dolphin Systems Corp., (Pink Sheets:GDLS) is pleased to announce that it has acquired The Kettleby Soap Company located in Vaughan, Ontario. Kettleby manufactures and distributes an extensive line of all-natural and biodegradable moisturizing soaps. Two features of Kettleby's operation are attractive to Green Dolphin. First, it has an existing distribution network into which some Green Dolphin products can be integrated. Second, Kettleby maintains an "in-house" manufacturing facility that is compatible with producing some of Green Dolphin's existing line of products. As a result of these features, we believe the Kettleby acquisition can substantially improve both our distribution and manufacturing capabilities and move the Company forward toward profitable operations.
Green Dolphin also announced today the appointment of Mr. Eise deBoer as the corporation's new President and CEO and as a Director. Mr. deBoer brings over 15 years of chemical manufacturing, marketing and sales experience. He stated, "I look forward to joining the Green Dolphin team's future with an unwavering commitment to serving both the company's and the shareholders' interests. Our near term focus will be to consolidate channels of distribution and expand the branding of the Green Dolphin product line in the retail and commercial sectors."
Mr. deBoer will replace Nicholas Plessas who has served as the President, CEO and the moving force behind Green Dolphin since inception.
Safe Harbor
This announcement contains forward-looking statements that involve risks and uncertainties, including those relating to the Company's ability to develop and expand its business. Actual results may differ materially from the results anticipated and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among other things, the Company's limited operating history, its limited financial resources, intense competition within the technology industry, incapacity to market and develop its technological capacities, difficulties and risks associated with operating in foreign jurisdictions, domestic and global economic conditions and conditions of the equity markets. More information about the potential factors that could affect the Company's business and financial results is and will be included in the Company's filings with the Securities and Exchange Commission.