Novation Holdings, Inc. (OTCQB: NOHO) announced today that StarPoint USA, Inc., a wholly owned subsidiary of Crown City Pictures, Inc. (OTC Pink: CCPI) (PINKSHEETS: CCPI), and an indirect subsidiary of NOHO, will distribute all-electric buses manufactured and assembled by GreenPower Motor Company, Inc. ("GreenPower"), based in Vancouver, British Columbia, Canada (www.greenpowerbus.com). StarPoint has previously executed a Factory Direct Representative Agreement with GreenPower which appoints StarPoint USA as GreenPower's exclusive Authorized Factory Direct Representative for the sale of the GreenPower EV 350 and EV 350-MC all-electric buses, and all future models, for Texas, Oklahoma, New Mexico, Louisiana, Mississippi and Puerto Rico. StarPoint USA also will seek approval from the US General Services Administration ("GSA") to sell GreenPower electric buses to a wide range of GSA accounts.
GreenPower's EV 350 is an all-electric 12-meter (40 ft) transit bus incorporating lightweight battery packs providing for a range in excess of 250 kilometers (155 miles) on a single charge. Parts sourced from world-class suppliers like Siemens, ZF, Thermo King, Webasto, and Alcoa are used in the production of each GreenPower EV 350 bus. In a press release issued on March 18, 2014, GreenPower announced that "GreenPower anticipates the arrival of their first North American all-electric transit bus to land on US soil at the end of April 2014. In conjunction with their strategic distribution partner StarPoint USA, they have plans to demonstrate the all-electric bus to transit authorities nationwide including parts of Canada during a coast-to-coast tour."
"We are very excited about this news from GreenPower Motor Company regarding the delivery schedule for their first all-electric transit bus and we look forward to demonstrating it to transit authorities across North America in the coast-to-coast tour that starts shortly after the bus arrives in California next month," said Ben Rainwater, President & CEO of StarPoint USA.
Phillip Oldridge, GreenPower's CEO, stated, "It has been a long road filled with many obstacles and challenges. Until recently, battery technologies were not advanced enough to support the long routes and demands required of public transit. Our EV 350 incorporates new advanced technologies with outstanding results! We look forward to working with StarPoint USA, Inc. to develop the US market for our all-electric transit bus."
StarPoint USA (www.StarPointUS.com) is a US based vehicle distribution company that has a proven sales track record having distributed vehicles and parts to the US market since 1998. As part of its ongoing business, StarPoint USA has been the ongoing and exclusive distributor of Daewoo vehicles and Genuine Daewoo Parts to the US market. Today, StarPoint USA continues to provide both warranty administration and genuine Daewoo parts to the remaining Daewoo owners in the US as it also does business in the alternative fuel vehicles ("AFVs") space. StarPoint USA plans to maximize sales and market share through the near term use and further development of an existing and robust independent retail dealership network. The company will offer unique vehicles of exceptional value at very competitive prices with sales being supported by a seasoned, market savvy management team that is capable of implementing a marketing strategy designed to introduce new models/brands and establish it as a leader in the alternative fuel vehicle market niche.
GreenPower Motor Company, Inc. is a British Columbia corporation focused on the public sector heavy duty transit bus and private sector motor coach transportation industries and eco-commercial equipment that maintains its long-term vision of being a global supplier of long-range electric powered vehicles. With 100+ years of management experience, GreenPower is engaged in the design, engineering, manufacturing, sales and aftermarket business of buses, coaches, and select commercial equipment.
FORWARD LOOKING STATEMENT
Certain statements contained herein and subsequent oral statements made by and on behalf of Novation Holdings, Inc. (the Company) may contain "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward looking statements are identified by words such as "intends", "anticipates", "believes", "expects", and "hopes" and includes, without limitation, statements regarding Novation Holdings, Inc.'s plan of business operations, product research and development activities, anticipated revenues and expenses and potential contractual arrangements and obligations. Also, our management may make forward-looking statements orally to investors, analysts, the media and others. Any statements made in this news release about an action, event or development, are forward-looking statements. Such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. These risks and others are included from time to time in documents we file with the Securities and Exchange Commission, including but not limited to, its Form 10-Ks, Form 10-Qs and Form 8-Ks. Other unknown or unpredictable factors also could have material adverse effects on our future results. Accordingly, you should not place undue reliance on these forward-looking statements. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it can give no assurance that its forward-looking statements will prove to be correct. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected. The forward-looking statements in this press release are made as of the date hereof. The Company undertakes no obligation to update or correct its own forward-looking statements, except as required by law or those prepared by third parties that are not paid by the Company. The Company's SEC filings are available at http://www.sec.gov.
Contact:
Novation Holdings, Inc.
Media Department
media@novationholdings.com
SOURCE: Novation Holdings, Inc.
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