MISSISSAUGA,ON, May 16 /CNW/ - Redishred Capital Corp. (TSXV: KUT)
announced today that its subsidiary, Proshred Franchising Corp.
("PFC"), has entered into an agreement with a new franchisee to operate
a PROSHRED® shredding business. The new PROSHRED® franchise office will be located in Fishers, Indiana; a suburb of
Indianapolis. The company currently has 18 locations and with the
addition of Indianapolis, IN PROSHRED® continues to develop its footprint across the United States.
Redishred expects its new franchisee to commence operations in
Indianapolis in June 2011.
Redishred's President John Prittie commented, "We are very pleased to
award our first new franchise for 2011 which marks our fourth location
in the Midwest. We are looking to further develop the Midwest region
in addition to our Kansas City, Chicago, Indianapolis and Milwaukee
Ken Carite, the new Indianapolis franchisee, stated "I searched for over
a year to identify the right business model for my new business
endeavor. I selected Proshred because I think document security is
relevant in today's world of identity theft. I firmly believe that
there is solid demand for a "best in class" service in Central
Indiana. Proshred is attractive because it has a solid infrastructure
and support system in addition to a successful base of existing
locations. I look forward to duplicating the Proshred model in
Indianapolis and growing a great business."
ABOUT OUR NEWEST FRANCHISEE
Ken Carite is an experienced Sales and Marketing Executive with over 25
years experience leading the sales and marketing efforts of sales teams
across local, national and international markets. Most recently Ken
was Director of North American Sales for SAP, the world's leading
Enterprise Software provider. He has also held Sales Leadership roles
with Roche Diagnostics, Great Plains Software and FourthChannel. He
has been a resident of the Indianapolis area since 1994 and looks
forward to building on his personal mission of "improving the lives of
customers, employees and our community" through the efforts of PROSHRED® - Indianapolis.
Redishred Capital Corp. is the owner of the PROSHRED® trademarks and intellectual property in the United States. PROSHRED® shreds and recycles confidential documents and proprietary materials
for thousands of customers in the United States in all industry
sectors. PROSHRED® is a pioneer in 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®'s vision is to be the 'system of choice' and provide shredding and
recycling services on a global basis.
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 2008 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
In particular, certain statements in this document discuss Redishred's
anticipated outlook of future events. These statements include, but
are not limited to:
The commencement of operations which may be delayed by the franchisees
inability to secure the required facilities to operate a Proshred
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
SOURCE RediShred Capital Corp.
For further information:
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