PHOENIX, AZ--(Marketwire - February 02, 2009) - EastBridge Investment Group (EBIG) (OTCBB: EBIG)
today announced it has reached agreements to acquire a controlling stake in
three companies in China with EBIG's preferred stock. The transactions will
close in ninety days, subject to EBIG's accounting and legal due diligence.
Two companies are in the ship building and pharmaceutical industries. The
third one is a diversified holding company. Their net incomes range from
one to two million dollars per year.
Norm Klein, COO/CFO of EastBridge, said, "These candidates are three
medium-sized companies located in Zhejiang, China, approximately two hours
from Hangzhou's West Lake area. They have all been in business for more
than five years. We plan to spin off our majority held companies as
separate public companies as soon as their managements are prepared to do
so. EastBridge will retain equity stakes in their public stocks."
Keith Wong, CEO of EastBridge, commented, "Just like America and Europe,
Asia is facing a severe liquidity crunch as well. Asian companies are
again looking to the overseas' stock markets to raise capital. We are
seeing a surge in inquiries for our United States' IPO service from our
Chinese contacts. We expect to see a very busy 'Year of the Ox' for
EastBridge in the areas of IPO and acquisition opportunities."
EastBridge Investment Group focuses on high-growth companies in Asia,
offering IPOs, Joint Ventures and Merchant Banking services. The Company
targets industries in electronics, real estate, auto, metal, energy,
environmental, bioscience and food retail distribution. To learn more
about EastBridge Investment Group go to our web site: www.EbigCorp.com. To
receive EBIG's email alert, send a blank email to info@EbigCorp.com.
Statements in this press release relating to plans, strategies, economic
performance and trends, projections of results of specific activities or
investments, and other statements that are not descriptions of historical
facts may be forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934.
Forward-looking information is inherently subject to risks and
uncertainties, and actual results could differ materially from those
currently anticipated due to a number of factors, which include, but are
not limited to, risk factors inherent in doing business. Forward-looking
statements may be identified by terms such as "may," "will," "should,"
"could," "expects," "plans," "intends," "anticipates," "believes,"
"estimates," "predicts," "forecasts," "potential," or "continue," or
similar terms or the negative of these terms. Although we believe that the
expectations reflected in the
forward-looking statements are reasonable, we cannot guarantee future
results, levels of activity, performance or achievements. The Company has
no obligation to update these forward-looking statements.