SNM Global Signs LOI to Acquire Banx and Green Group Inc. With $28.6 Million in Current Contracts
2010, 8:41 am EST
LONDON--(Marketwire - 11/30/10) - SNM Global Holdings (Pinksheets:SNMN - News) announced today it signed a Letter of Intent to acquire 51% of Banx and Green Group Inc.
The acquisition will significantly enhance the company's asset base and revenue projections. Banx and Green Group is an Alternative Energy Company with specialties in Green Construction and Biofuel Development and has a contract to build a minimum of 11 Emergi-Care centers with an estimated value of $28.6 million. The contract is to perform within house diagnostic equipment for health care providers on the West Coast.
"We are confident about 2011 and beyond. Our agreement with SNM Global Holdings allows us to fulfill our business plan and capital needs," stated David Lafave, President of Banx and Green Group Inc.
The company has stated this deal is on a fast-track closing and anticipates and detailed announcement later this week.