Envirokare will now redirect and focus its business to align with Xemex's real estate activities. Simultaneously with the acquisition, Steve Pappas, a member of Envirokare's board of directors, became chairman and CEO.

Prior to the Xemex acquisition, Envirokare has completed a spin-out of its existing technology business to stockholders of record as of February 25, 2010. In connection with the spin-out each stockholder of record will receive one share of Envirokare Composite Corporation (ECC) for each share of Envirokare they owned on the record date.

Will the acquisition benefit Envirokare?

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