American Green, Inc. (OTC:ERBB) has signed a binding letter of intent to acquire VenWeb, the supplier of American Green Xpress vending machine with facial recognition and over age 21 ID verification that allows the purchase of age-restricted products. VendWeb has been in the vending business for over 10 years. American Green has already secured the binding letter of intent with a cash deposit and will announce the final agreement details including Vendwebs financial information upon final board approval in early April of this year.
“VendWeb has been a fantastic company to work with over the last 5 years. American Green has been working directly with Lindel Creed, the founder, and president, and is very excited about the acquisition as it will bring another strategic asset to American Green. ERBB has already identified a very promising business opportunity in the 21 and over age identification and verification vertical and will be expanding its American Green Xpress AGX vending business after the acquisition is complete," said David G. Gwyther, American Green’s president.
