Simultaneously with the closing of the share exchange, the company completed a first closing of a private placement financing for gross proceeds of $475,000 with accredited investors. Upon effectiveness of the five for one forward split as well as the cancellation of 4,000,000 shares held by the former majority shareholder of Custom Q there will be a total of 21,316,667 shares outstanding.
Also in connection with the share exchange, Custom Q changed its name to GreenHouse Holdings. The company intends to apply for a change of its stock symbol on the Over the Counter Bulletin Board to reflect this amendment.
Chris Ursitti, CEO of GreenHouse, said: “We are delighted to complete this transaction and become a public company. The going public transaction provides a strong financial foundation with enhanced access to capital and will further GreenHouse’s strategy of taking a leadership position in green solutions, including large-scale ethanol production and green building services.”
