General European Strategic Investments Inc. Completes ColdPro Acquisition
Las Vegas, Nevada--(Newsfile Corp. - July 27, 2022) - GENERAL EUROPEAN STRATEGIC INVESTMENTS INC. (OTC Pink: GESI) (the "Company or GESI") is pleased to announce the successful closing of its acquisition of a 49%-interest in ColdPro LTD. (ColdPro), a private UK company specializing in waste management in the UK.
- ColdPro's management team is preparing an application for the 2023 license, which is due to be filed soon.
- ColdPro is a licensed UK-based integrated waste management business, and one of only six regulated approved authorized treatment facilities in the UK dealing with commercial refrigeration streams.
- Terms of the acquisition can be found in the announcement dated March 14, 2022.
Wolfgang Rauball, Director & CEO of GESI, said, "We are delighted to have successfully completed the acquisition of our interest in ColdPro and we look forward to working with its management team to expand its operations."
About ColdPro LTD.
ColdPro holds an Approved Authorised Treatment Facility (AATF) license, which puts the company in direct competition with Biffa PLC, a £1.6 billion company, and Sims Metal, a £4 billion company, as the only other public licensed waste treatment companies in the UK waste sector.
By law in the UK all refrigerators must be recycled by a AATF Licensed company and cannot be disposed of through scrapping or landfilling refrigeration equipment.
This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Such statements include any that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate", "project", "intend", "forecast", "anticipate", "plan", "planning", "expect", "believe", "likely", "should", "could", "would", "may" or similar words or expressions. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the Company's actual results and financial position to differ materially from those in such statements, which involve risks and uncertainties, including those relating to the Company's ability to grow. Actual results may differ materially from those predicted and any reported should not be considered an indication of future performance. Potential risks and uncertainties include the Company's operating history and resources, together with all usual and common economic, competitive, and equity market conditions / risks.
Robert Seguin, V.P., Investor Relations
General European Strategic Investments Inc.
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