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Green Automotive to Acquires Newport Coachworks

Green Automotive Co Corp

Green Automotive (OTC: <a class="ticker" href="/stock/gacr#OTC">GACR</a>) today announced it has signed a 
 definitive agreement to acquire Newport Coachworks Inc. (“NCI”). The 
 business will be run by Carter Read, an industry leader in the bus and 
 limo manufacturing business in North America.
 GAC will acquire 100% of the issued and outstanding common stock of NCI 
 in exchange for an undisclosed number of shares in GAC; the transaction 
 is valued at up to $13,000,000. The terms of the transaction include GAC 
 providing certain financing to NCI which will be used over the next 12 
 months to establish and expand NCI's manufacturing facilities and to 
 invest in new product development.
 Newport Coachworks' new manufacturing facility is based
 <a href="http://www.benzinga.com/pressreleases/12/10/b2995327/green-automotive-company-acquires-newport-coachworks-inc">See full press release</a>

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