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 locations". 

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."

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 correct.

In particular, certain statements in this document discuss Redishred's anticipated outlook of future events.  These statements include, but are not limited to:

(i)   The commencement of operations which may be delayed by the franchisees inability to secure the required facilities to operate a Proshred franchise, and
(ii)     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 forward-looking statements.


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

Profil de l'entreprise

RediShred Capital Corp.

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