SCOTTSDALE, Ariz., June 10, 2009 (GLOBE NEWSWIRE) -- EGPI Firecreek, Inc., (OTCBB:EFIR) is pleased to announce that it has finalized a Triangular Merger Agreement with U.S. based M3 Lighting, Inc. of Atlanta, Georgia. EGPI Firecreek, Inc.'s (the "Company") new subsidiary Asian Ventures Corp., a Nevada corporation (the "Subsidiary"), M3 Lighting, Inc., a Georgia corporation ("M3"), and Strategic Partners Consulting, L.L.C., a Georgia limited liability company ("Strategic Partners"), executed and finalized a Plan and Agreement of Triangular Merger, whereby M3 merged into the Subsidiary, a wholly-owned subsidiary of the Company (the "Merger").
M3 Lighting, Inc. with offices in Mainland China, Hong Kong and the U.S. is a manufacturer and distributor of commercial and decorative lighting to the trade and direct to retailers. M3 specializes in the areas of lighting industry sales, design, product development, sourcing, manufacturing and capital markets. With over 60 years combined experience in international business, M3 has been able to expand its business through competitive manufacturing markets and a global client base.
Current clients of M3 include The Home Depot, Depot Expo, Wal-Mart, Costco, QVC, and Power Design. M3 anticipates significant growth by drawing on its extensive relationships with National Hotel Chains and Hospitality Groups in order to furnish indoor and outdoor lighting fixtures for new construction, remodelings and existing facilities. Additionally, the company plans on pursuing specific acquisition targets in the DOT Construction Industry in order to expand the opportunity for lighting, guardrail, cameras, traffic management & signalization, utility moves, variable message boards and other non-road construction opportunities as well as the pursuit of light and traffic fixture manufacturing plants domestically and abroad in China and India. Currently, M3 is in early negotiation stages for the acquisition of two major U.S. manufacturing firms of lighting traffic and telecommunication structures.
As a basis for continued growth through vertical integration within the Energy sector, the Company is committed to exploring opportunities with existing companies that have solid management and existing revenue streams. Additionally, while building on the accomplishments of its previous oil and gas operations, and its developments primarily in Texas, the Company is now integrating and deploying plans that have included the spin-off of debt for its prior subsidiary operations, and moving forward under the new name Energy Producers, Inc. (EPI) a/k/a Malibu Holding, Inc., as a wholly owned subsidiary of the Company. EPI through the reorganizing of its oil and gas segments of operations has established several oil and gas acquisition targets in West Central Texas for acquisition, rehabilitation, and development. In the future, the Company anticipates bringing Alternative Energy technologies into its energy mix.
Dennis Alexander, Chairman and CEO of EGPI Firecreek, Inc., stated, "We are excited about this new stage of development for the Company with the recent completion of its merger with M3 via our Subsidiary." He further stated, "The integration of the two companies will push forward the building of two lines of business via its focus of strategic disciplines in order to assist the exponential growth of the Company while bringing added value to our shareholders."
Michael Kocan, President and CEO of M3 Lighting stated, "The timing and opportunity of this merger will provide M3 Lighting with a vehicle to expand our existing business model of growth through acquisitions and partnerships, as well as participation in the stimulus spending initiated by the Obama Administration. Through our continued alliance with Strategic Partners Consulting, we plan to achieve result driven success."
About EGPI Firecreek, Inc.
EGPI Firecreek, Inc. is historically focused on oil production with an emphasis on acquiring existing oil fields with proven reserves, the rehabilitation of potentially high throughput oilfields, resource properties and inventories on an international basis. Other companies in the oil sector include, Exxon Mobil, Pantina Oil and Gas Inc., Frontier Oil Inc., and Cabot Oil & Gas Inc.
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Safe Harbor
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of EGPI Firecreek, Inc., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond EPGI Firecreek Inc.'s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in EGPI Firecreek, Inc.'s filings with the Securities and Exchange Commission.