VANCOUVER, British Columbia–(BUSINESS WIRE)–Green Fusion Corporation (“Green Fusion”) (OTCBB:GRFU – news) wishes to announce that it has signed a term sheet with Bermondsey Investments Limited for up to US$1.5 million.
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The financing will allow GRFU to complete its intended acquisition of House of Brussels Holdings Ltd., which owns and operates Brussels Chocolates Ltd. (“Brussels”). Bermondsey’s investment will initially take the form a loan and will be converted to equity upon GRFU’s completion of a registration statement for those shares.
Harold Schneider of Bermondsey Investments said, “We are very pleased to be involved with Green Fusion’s acquisition of Brussels. It is an established business with a solid business plan making this opportunity a sound investment.”
“Green Fusion and Brussels are excited about the financial and business resources that Bermondsey adds to our companies,” said Evan Baergen, president of Green Fusion. “Their financing will allow us to concentrate on executing our business plan and their experience will make our expansion and growth even more successful.”
About Brussels
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By GlobalDataFounded in 1983, Brussels manufactures and markets high quality, gourmet chocolates. The company sells in both retail and wholesale channels split approximately 50:50. With 11 retail outlets in the greater Vancouver area, sales of Brussels chocolates have been as high as $5.0 million annually. Upon completion of the transaction announced on June 26, 2001 Brussels intends to initiate sales in other regions of Canada and the United States.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussion with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact may be forward-looking statements. Forward-looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated.
