OBN Holdings Subsidiary Approved to Participate in USDA’s Foreign Agricultural Service Program

SOURCE: OBN Holdings, Inc.

LAS VEGAS, NV–(Marketwire – June 28, 2010) – OBN Holdings, Inc. (PINKSHEETS: OBNI) today announces that Kyodo USA, its wholly-owned subsidiary, has been approved by the United States Department of Agriculture (USDA) to export under its Foreign Agricultural Service (FAS) program.

“Acceptance into the Export Credit Guarantee Program will take Kyodo to a new level of exporting,” stated Roger Neal Smith, OBN Holdings President and CEO. “Being able to offer American-grown products to buyers worldwide under the program affords Kyodo USA the ability to aggressively enter into markets that would have normally taken years to develop.”

Through the USDA program, Kyodo USA expects to generate sales of $2 million during the first twelve months of operations and expand into three new territories.

About the GSM Program
The USDA Export Credit Guarantee Program provides credit guarantees to encourage financing of commercial exports of U.S. agricultural products, while providing competitive credit terms to buyers. By reducing financial risk to lenders, credit guarantees encourage exports to buyers in countries — mainly developing countries — that have sufficient financial strength to have foreign exchange available for scheduled payments.

About OBN Holdings
OBN Holdings is engaged in acquisition and subsequent development of businesses worldwide. The company has interests in a diverse number of industries, including entertainment, manufacturing, technology and business services. OBN is internationally diversified with offices and subsidiaries in the United States, Hong Kong and Japan. The company posted revenue of $18 million for its previous fiscal year.

OBN Holdings, Inc.: 8275 South Eastern Avenue, Suite 200, Las Vegas, Nevada 89123. (702) 938-0467

This press release does not constitute an offer to sell or the solicitation of any offer to buy any securities of OBN Holdings, nor shall there be any sale of any such security in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state. Forward looking statements: This press release and other statements by OBN Holdings may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act with respect to the outlook for earnings and revenues, other future financial or business performance, strategies and expectations. Forward-looking statements are typically identified by words or phrases such as “believe,” “expect,” “estimate,” “potential,” or future/conditional verbs such as “will,” “should” and “could.”

Contact:
Susan Johnson
(702) 938-0467
Email Contact

Click here to see all recent news from this company

Leave a Comment

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Scroll to Top