Science & Technology 
Science and Technology
Science and Technology 
Tue, February 3, 2009
Green Globe International, Inc.: Green Globe International, Inc. Announces Receipt of First Revenues From Certification Allianc
MURRIETA, CA--(Marketwire - February 3, 2009) - Green Globe International, Inc. (
Green Globe certification identifies compliance with internationally accepted green sustainability standards to tourism properties and businesses.
Since initiating the dual certification program, Green Certifications, under the direction of Guido Bauer, who was recently appointed to the position of vice president of global sales of Green Globe International, has signed several certification clients. Included in these were Atlantis Submarines Barbados, the first client in the Caribbean region and Tennessee's Ruby Falls, the first client in the United States. Green Certifications has initiated sales and marketing efforts in North, Central and South America, the Caribbean, and Europe, the first regions targeted under the Green Globe/Green Certifications partnership, and additional clients are expected to be signed in the coming days.
Under the definitive agreement entered into by the two companies in December 2008, Green Globe International receives, in exchange for the use of the Green Globe brand, a licensing fee from Green Certifications equal to a percentage of gross revenues received by Green Certifications from its clients. The first of the licensing fee payments was received by Green Globe International on February 2, 2009.
"This is an important milestone in the developing relationship between Green Globe and Green Certifications," commented Steven R. Peacock, CEO and managing director of Green Globe International, Inc. "We are pleased to report to our shareholders that the revenue impact from this association has been almost immediate, and we expect to build upon this initial success with a growing number of certification clients and even closer ties with Mr. Bauer and Green Certifications."
In addition to their dual certification program, Green Globe International and Green Certifications have executed a non-binding term sheet which outlines a process under which Green Globe International would acquire Green Certifications. The steps in the process include a Letter of Intent, an acquisition of a minority ownership interest in Green Certifications, additional due diligence, a Definitive Agreement, and, ultimately, the close of the acquisition. The timeline for the acquisition is expected to span approximately 6 months.
The Green Globe brand and program trace their roots back to the United Nations Rio de Janeiro Earth Summit in 1992, where 182 Heads of State endorsed the Agenda 21 principles of Sustainable Development.
Green Globe International, an affiliate member of the United Nations World Tourism Organization (UNWTO), has endorsed the efforts of the United Nations Foundation, Rainforest Alliance, the United Nations Environment Programme (UNEP) and the UNWTO in launching the Global Sustainable Tourism Criteria (GSTC).
Green Globe International ([ www.greenglobeint.com ]) encourages all shareholders and others interested in following the progress of the company to subscribe to receive email alerts whenever new information is made public. To subscribe, please visit [ http://www.greenglobeint.com/stayconnected/email/ ].
About Green Globe International, Inc.
Green Globe International, Inc. is the majority owner of Green Globe, Ltd., a British company that owns the Green Globe brand, the premier international brand for sustainable travel, tourism and related green businesses. Green Globe's worldwide network extends across nearly 50 countries. Green Globe International has been admitted as an affiliate member of the United Nations World Tourism Organization. The World Travel & Tourism Council (WTTC), the business leaders' forum for the travel and tourism industry, is a 5% common stock owner of Green Globe International. For more information on Green Globe International, please visit [ www.greenglobeint.com ].
Safe Harbor Statement
This release contains forward-looking statements with respect to the results of operations and business of Green Globe International, Inc., which involves risks and uncertainties. The Company's actual future results could materially differ from those discussed. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the "Safe Harbors" provision of the Private Securities Litigation Reform Act of 1995.