DLTZ becomes a subsidiary of ERBB
PHOENIX, AZ and NIPTON, CA, April 03, 2018 (GLOBE NEWSWIRE) -- American Green, Inc. (ERBB:OTC) is pleased to announce that it has completed its acquisition of Delta International Oil and Gas (OTCQB:DLTZ) through the sale of its Nipton assets and, as a result, American Green has gained control of Delta. Delta will be operated as a subsidiary of American Green and American Green will consolidate Delta’s financials with its own.
As a fully reporting public company, Delta can rapidly qualify for exchange listing, giving it access to far cheaper capital while vastly increasing shareholder value for American Green.
David Gwyther, American Green’s Chairman, stated, “Contrary to a few erroneous commentators, American Green did not dispose of Nipton. Rather, our company utilized the sale of Nipton in order to acquire Delta and grow shareholder value.”
Mr. Gwyther continued, “Now, with Delta operating as a subsidiary of American Green, both companies can work in tandem, growing and expanding not only our opportunities in Nipton, but will enable us to develop whatever new opportunities present themselves.”
“We plan for Delta to become one of, if not the largest cannabis-friendly real estate investment companies, but as such, it cannot yet have its hand directly in cannabis operations. American Green will operate where Delta cannot,” he concluded.
In further news:
Concurrent with the closing, Santiago Peralta resigned as CEO and as a member of the Board of Directors of Delta. Scott Stoegbauer will continue to act as interim president until the board officially appoints him as its new CEO. Malcolm Sherman will remain as chairman and together, they will lead Delta into the future.
American Green’s Chairman, David Gwyther, further stated, “Although Santiago Peralta will be leaving Delta to continue his successful career in the oil and gas sector, American Green will be retaining Mr. Scott Stoegbauer and Mr. Malcolm Sherman. Malcolm and Scott bring an enormous amount of talent to Delta.”
Mr. Malcolm W. Sherman, a former director of the Company, was appointed to fill a vacancy on our board of directors on July 11, 2008. He was appointed Executive Vice President on July 28, 2008, and was appointed President and Chief Executive Officer on November 8, 2012. On January 6, 2015, the Board of Directors of the Company approved his retirement as our Chief Executive Officer, President and a director of the Company effective as of December 31, 2014.
Mr. Sherman from 2005 to the present has served as President and a director of Security Systems International, Inc., a company that provides security systems for government buildings, industrial facilities, oil refineries, and other facilities in the Middle East. From May 2000 to July 2005, Mr. Sherman served as director of marketing for Hyzoom Commercial Co. Ltd., a division of ZAFF International, Ltd., in Riyadh, Saudi Arabia, as well as the director marketing for ZAFF International, a Saudi Arabian technology company specializing in security systems for industrial facilities for industrial and oil and gas facilities, and managed four of this company’s divisional offices in the Middle East.
Mr. Sherman also served as a director of two public companies. He was a member of the founding team of Taser International, Inc. in 1993, and served on its board from 1993 to 1999. He also served as executive vice president and director of Ronco, Inc. from 1982 to 1993. Mr. Sherman received a B.S. degree in business administration from the University of Miami in 1959.
Mr. Scott Stoegbauer began his career working with Tandy Corporation at the beginning of the PC Revolution, opening and managing its first retail Computer Centers in and around New York City, and continued with the company for 10 years. He also served as Northeast District Sales Manager of Digital Communications Associates, where he assisted Global 2000 corporations in integrating their thousands of PC'’s with the back-room mainframe infrastructures using their IRMA Boards. Mr. Stoegbauer attended State of University of New York from 1972 to 1976, majoring in Business Administration.
Mr. Stoegbauer worked for Worldata from 1990 through 2003. He served as Vice President of Technology there, helping to develop and market the earliest and most innovative Internet and eCommerce marketing systems. He subsequently served as a Senior VP of Worldata where he helped create one of the first online marketing organizations in the country. During his 13-year tenure, he helped to develop, market, and sell some of the earliest and most innovative online marketing systems designed to capitalize on the tremendous reach of the Internet.
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NOTES ABOUT FORWARD-LOOKING STATEMENTS
Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, including those described in the Company's Securities and Exchange Commission reports and filings. Certain statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward-looking statements may identified by words such as estimates, anticipates, projects, plans, expects, intends, believes, be should and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the Company and speak only as of the date made. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which they are made.
About American Green, Inc.
American Green, Inc., became, in 2009, one of the first publicly traded technology companies in the cannabis industry. Now, with over 50,000 individual shareholders, more than any other company in the cannabis sector, American Green's mission is to lead the cannabis industry. Leveraging our team of professionals in cultivation, manufacturing, extraction, wholesale, retail, and community outreach, we strive to develop sustainable initiatives, while increasing shareholder value and company profit.
About MediaTechnics Corporation
MediaTechnics Corporation (OTC PINK: MEDT) (http://www.bloomberg.com/quote/MEDT:US) and its wholly owned subsidiary BlazeNow Inc, specialize in providing ancillary products and services to the medical and recreational Cannabis industries. Our management will utilize industry experience to target the areas of the market with the highest profit potentials.
We believe in the future legitimacy and profitability of the industry based on recent studies showing bi-partisan support and demand for Cannabis. We believe that Cannabis provides a healthier alternative to conventional pharmaceutical and recreational drugs and will play an important role in the future of our country's health care. We are determined to be a dominant force in defining this emerging market.
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Source:American Green, Inc.