Redishred Capital Corp. (TSX.V - KUT) announced today that its subsidiary, Proshred Franchising Corp. ("PFC"), has entered into an agreement with a new franchisee to operate a PROSHRED(R) shredding business. The new PROSHRED(R) franchise office will be located in the Southern New Jersey market. The company currently has 26 locations in operation and with the addition of New Jersey, PROSHRED(R) continues to develop its footprint across the United States. Redishred expects its new franchisee to commence operations in the second quarter of 2014.
Redishred's Vice President of Sales & Operations, Andrew Parry, commented, "We are very pleased to increase our footprint, brand exposure and service density in the northeast and build upon the PROSHRED(R) strength in the Mid Atlantic and North East areas. We continue to develop our capabilities across the country by awarding franchise rights to high caliber executives and entrepreneurs who embody PROSHRED(R)'s 5-star customer experience and service quality. We are excited about the addition of Simone and Howard."
Simone and Howard Bryerman, our newest franchisees, stated that, "they were attracted to PROSHRED(R) as a B2B business due to the huge growth potential as a scalable model. It is a business that rewards hard work and if you put the effort into the business, it will lead to greater returns."
ABOUT OUR NEWEST FRANCHISEES
Simone Bryerman is originally from London, England where she started a design and printing business. After selling her company, she travelled before meeting her husband in New York and moving to the US. Married to Howard Bryerman, she has eight year old twins, Daniel and Elizabeth.
Howard Bryerman is an investment professional with 20 years of experience as a high yield bond portfolio manager and analyst. He has worked in the Asset Management divisions of several global banking institutions including Deutsche Asset Management, Wells Fargo Asset Management, Bank of New York Capital Markets and Penn Capital Management. Howard has a BS in Accounting from the University of Connecticut and an MBA in Finance from New York University's Stern Graduate School of Business. In addition he is a Chartered Financial Analyst (CFA) and a Certified Public Account (CPA).
Redishred Capital Corp. is the owner ofthe PROSHRED(R) trademarks and intellectual property in the United States. PROSHRED(R) shreds and recycles confidential documents and proprietary materials for thousands of customers in the United States in all industry sectors. PROSHRED(R) is the pioneer of the mobile document destruction and recycling industry and has the ISO 9001:2008 certification. In addition to the ISO certification, most of our franchise and corporate locations are NAID certified. It is PROSHRED(R)'s vision is to be the 'system of choice' and provide shredding and recycling services on a global basis.
FOR FURTHER INFORMATION PLEASE CONTACT:
Redishred Capital Corp. (TSX.V - KUT)
Kasia Pawluk, CA
Chief Financial Officer
Phone: (416) 204-0076 Fax: (905) 812-9448
Jeffrey Hasham, MBA, CA
Chief Executive Officer
Phone: (416) 849-3469 Fax: (905) 812-9448
Note: The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.
This news release contains forward looking statements that reflect the current expectations of management of Redishred and Redishred's future results, performance, achievements, prospects and opportunities. Wherever possible, words such as "may", "will", "estimate", "believe", "expect", "intend" and similar expressions have been used to identify these forward looking statements. These statements reflect current beliefs and are based on information currently available to management of Redishred. Forward looking statements necessarily involve known and unknown risks and uncertainties. A number of factors, including those discussed in the 2012 management discussion and analysis under "Risk Factors", could cause actual results, performance, achievements, prospects or opportunities to differ materially from the results discussed or implied in the forward looking statements. These factors should be considered carefully and a reader should not place undue reliance on the forward looking statements. There can be no assurance that the expectations of management of Redishred will prove to be correct.
In particular, certain statements in this document discuss Redishred's anticipated outlook of future events. These statements include, but are not limited to:
(i)The commencement of operations which may be delayed by the franchisees inability to secure the required facilities to operate a Proshred franchise, and
(ii)The development of further locations which may not be attained due to negative local economic circumstances that may limit the number of qualified franchisee candidates.
Readers are cautioned that such forward looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from these statements. Redishred can give no assurance that actual results will be consistent with these forward-looking statements.
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