FRESNO, Calif., Feb. 9, 2012 -- Black Castle Developments Holdings, Inc. (Pink Sheets: BCDH), a holding company targeting the acquisition of undervalued, niche companies, announced today that it has completed due diligence on its proposed acquisition of A-Shine, a pioneer in glass polishing technology for the global restaurant and hospitality industry. The terms and conditions of the acquisition have been agreed upon both parties, Jeff Holroyd, CEO of Black Castle Developments, and Aaron Rogers, CEO of A-Shine.
A definitive agreement is being drafted that details these terms and conditions and all associated documents relating to the transaction. Mr. Holroyd and Mr. Rogers said in a joint statement, "We are eager to close on this transaction, which we believe will be beneficial to both our companies' top- and bottom-line growth, and substantially increase shareholder value in the future. We expect to have all documents finalized by Wednesday, February 15, 2012. Once the acquisition is closed, A-Shine will operate as a wholly-owned subsidiary of BCDH."
About A-Shine Inc.
A-Shine Inc. is a pioneer in the restaurant and hospitality industry that manufactures and markets an innovative glass polishing device. What was once a manual process, A-Shine has founded a breakthrough technology to make polishing glass more automated, effective, and cost efficient. The polisher has the ability to not only polish wine glasses of various size and toughness, but will also be able to polish all standard glassware currently used within the restaurant and hospitality venues. A-Shine will be the industry leader and provide its clientele with a safer, more efficient, cost saving product that will modernize and revolutionize the way glasses are polished.
About Black Castle Developments Holdings, Inc.
Black Castle Developments Holdings, Inc. ("BCDH") is a holding company focused on the merger and acquisition of undervalued, revenue-generating companies that operate in high-growth niche markets. BCDH plans to leverage its management resources and status as a public entity to assist acquired companies to achieve and/or grow their profitability. For more information, visit www.blackcastledevelopments.com.
Statements contained in this news release, other than those identifying historical facts, constitute "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions as contained in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company's future expectations, including but not limited to revenues and earnings, technology efficacy, strategies and plans, are subject to safe harbors protection. Actual Company results and performance may be materially different from any future results, performance, strategies, plans, or achievements that may be expressed or implied by any such forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements.
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SOURCE Black Castle Developments Holdings, Inc.