GARB Shareholder Updates 1 of 4: Company Filings and e-waste Facilities Underway

SALT LAKE CITY, Feb. 22, 2012 /PRNewswire/ -- Garb Oil & Power Corporation (USOTC: GARB).
Garb management is working with the Company's auditors to complete its SEC filings, which are expected to be filed this month.  In addition to the work on the Company filings, substantial work has been completed on the several e-waste facility projects underway.

Italy – Sardinia:  A joint venture has been struck to build one plant in Sardinia Italy.  This plant will work in conjunction with current recycling centers in each of these locations to specifically process e-waste streams.  Currently, J-V agreements have been executed, sites have been selected, and 80% bank financing is being arranged.  GARB plans on contributing 20% in cash toward the completion of the plant.

Indiana:  GARB has executed a Joint Venture Agreement with a company bringing 100% funding of a full e-waste recycling plant.  Funding is being accomplished through the USCIS EB-5 program.  Indiana has been coordinating the receipt of the property USCIS Regional Center designation that is a requirement of this particular funding mechanism.  The Site has been identified, the building has been designed, a General Contractor is in place, and ground-breaking is estimated for mid 2012 with completion of the Plant in 1st quarter 2013. 

According to CEO, John Rossi, "We anticipate a collection/scrap recycling location possibly in other parts of Indiana, Ohio and Nevada.  These locations will allow for the collection and processing of e-waste material throughout the state of Indiana, and should allow for receipt of material from a few neighboring cities in other states."

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.

Garb Oil & Power Corporation
+1-801-738-1355 Office
John Rossi President & CEO
Email: [email protected]
Websites: www.garbop.com

SOURCE Garb Oil & Power Corporation