Garb Oil & Power Corporation Terminates Negotiations With FDG di Collu S.r.l and Carbus S.r.l.

SALT LAKE CITY, July 8, 2011 /PRNewswire/ -- Garb Oil & Power Corporation ("Garb") (OTCQB: GARB) has completed its due diligence and has made an offer to buy FDG di Collu S.r.l., and Carbus S.r.l., for euro 10,500,000. Upon review of the offer FDG di Collu S.r.l., and Carbus S.r.l., rejected the offer as too low. Further negotiations did not resolve the issue. In consideration of the above Garb's board has informed FDG and Carbus that Garb has terminated negotiations to acquire FDG and Carbus.

Garb will continue its search for suitable acquisitions and joint venture partners to integrate into Garb's overall growth objectives in the Unites States and Europe during the next 2 quarters and beyond. Garb is also searching to form Joint Venture partnerships in countries that have an E-Waste and E-scrap problem anywhere in the world.

About Garb Oil & Power Corporation

Garb Oil & Power Corporation is a company dedicated to the application of ClosedCycle(TM) principle and NoWaste(TM) residue. Our plants for Rubber Recycling, EWaste and E-Scrap Recycling and Waste to Energy processing plants are all developed with these principles in mind. Garb believes that processing waste should be economically viable and leave NoWaste(TM). It is our endeavor to build plants that continue to push the boundaries for the attainment of the ClosedCycle(TM) principles and a world with NoWaste(TM).

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995. Statements contained in this document that are not historical fact, are forward-looking statements based upon management's current expectations. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. The results anticipated by any or all of these forward-looking statements may not occur. Garb Oil & Power Corporation is not required to update its forward-looking statements.

CONTACT:
For GARB OIL & POWER CORPORATION:
John Rossi at Ph.: +1-801-738-1355
Email: [email protected]
www.garbop.com

SOURCE Garb Oil & Power Corporation