2009-11-11 15:09:11 -
The Board of Directors of Bluestar Financial Group, Inc. (OTCBB:BSFG) today announced that they have entered into a Letter of Intent to purchase all of the outstanding shares of YouChange, Inc., a re-Commerce company, in a stock for stock transaction.
“We are excited about YouChange as our initial acquisition and entry into the Green Tech/Electronic Waste sector,” said Richard Papworth, Bluestar Interim CEO. YouChange is an electronics industry re-Commerce company that has created a one-stop online platform for consumers and businesses to dispose of their used electronics. With its robust consumer rewards program and recycling network, YouChange intends to provide consumers and businesses with a solution to the rapidly growing problem of e-waste. Items collected will either be refurbished and re-purposed
into the economy or recycled to avoid the environmental devastation caused when these products end up in our landfills. “We view this as a win-win opportunity for our customers, shareholders and for the environment,” said Mr. Papworth.
“The National Science Foundation estimates that used electronic devices in U.S. households totals approximately 747 million pieces of potential re-Commerce or e-waste—more than 1.36 million metric tons,” said Jeffrey Rassas, Chairman of Bluestar. “Cell phones and laptops can be loaded with toxic metals such as arsenic, cadmium and mercury while old televisions and computer monitors can contain up to 8 pounds of lead. In a landfill, they can pose an environmental and neurological hazard as evidenced in a rise of childhood diseases. Only a small percentage of consumers and businesses are recycling their electronics. Many struggle to find an easy reward based solution. One person's trash is another’s treasure, particularly during these hard economic times. YouChange intends to provide greater access to businesses and consumers to responsibly recycle their used electronics.”
About YouChange, Inc.
YouChange, Inc. is a development stage Green Tech company headquartered in Scottsdale, AZ. Its mission is to provide consumers and businesses rewards based “Green” solution to the ever increasing problem of electronic waste.
About Bluestar Financial Group, Inc.
Bluestar Financial Group, Inc. intends to provide services in the Green Tech and e-waste sectors. The company was founded in 2002 and is based in Scottsdale, Arizona.
Forward-Looking Statements
This document contains forward-looking statements that are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected.
These risks, assumptions and uncertainties include: the ability of the Company to raise capital, the ability to complete systems within currently estimated time frames and budgets; the ability to compete effectively in a rapidly evolving and price-competitive marketplace; changes in the nature of telecommunications regulation in the United States and other countries; changes in business strategy; the successful integration of newly acquired businesses; the impact of technological change; and other risks referenced from time to time in the Company's filings with the Securities and Exchange Commission.
Bluestar Financial Group, Inc.Jeffrey Rassas, Chairman of the
Board, 480-463-4246
jrassas@notepadgroup.com : mailto:jrassas@notepadgroup.com