SCOTTSDALE, AZ--(Marketwire - March 10, 2011) - Casey Container Corp. (
The funding is allocated to several plants based on a build and development plan from Casey Container Corp.'s management group, who will be the Managing Partner for the enterprise. The identified locations may change, depending on business opportunities and market conditions. The management of Casey Container Corp. expects to own at least one third of the newly formed Casey Container International (a private company), with the exclusive rights to design, build and manage the manufacturing facilities and supply EcoPure® additive to all the facilities.
CEG Fund will provide this funding in order to finance the operations of the joint venture. Casey Container Corp. will not issue any shares, nor is it responsible to provide any additional funding in order to participate, and the funding will not have any dilutive effect on the shares of Casey Container Corp., a public company.
Casey Container Corp. licenses EcoPure®, a revolutionary second-generation proprietary and organic additive, which once added to a resin used to produce plastic bottle preforms, renders the plastic biodegradable. The Company's biodegradable preforms are made of PET, HDPE and other conventional polymers, thereby offering the same performance and cost effective advantages of conventional plastics.
As previously announced, the LOI requires the signing of a Definitive Agreement by March 31, 2011, with extensions, and the parties have agreed it will require several weeks after March 31st, 2011 to complete all documentation. There is no guarantee or assurance the Definitive Agreement will be signed, nor that the amount will not be reduced.
Casey Chairman Terry W. Neild states, "This funding, alongside of our recently announced financing for domestic production, will enable Casey Container Corp. to dramatically accelerate its growth, brand and underlying technology. Through the Casey International agreement, we can put ourselves in markets around the world with multiple factories using our technology. It's a real boon to our company and the biodegradable plastics market we will serve."
About Casey Container Corp.
Headquartered in Scottsdale, Arizona, Casey Container is engaged in the design and custom manufacture of biodegradable PET, HDPE and other plastic polymer preforms, bottles and containers for use in the bottled water, beverage and consumer products industries. The Company is committed to developing container products that meet clients' demands while addressing environmental issues concerning proliferation of plastic pollution. The Company offers its biodegradable plastic packaging solutions using the breakthrough science of the EcoPure® additive and technology.
For more information on Casey Container, see www.caseycontainer.com. You can also follow the Company on Twitter @casey_container or become a fan on Facebook at Casey Container Corp.
Safe Harbor for Forward Looking Statements: Except for historical information contained herein, this press release contains forward-looking statements that involve risks and uncertainties, including but not limited to economic, competitive, governmental and technological factors affecting the company's operations, markets, products and prices as well as other factors addressed in the company's filings with the Securities and Exchange Commission. For all such forward-looking statements, we claim the safe harbor for forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company disclaims any obligation to update any forward-looking statement made herein.
Contact Information:
Contact:
Falcon Financial Partners
Toll-free 1.866.500.8985
email