CHARLOTTE, N.C., Nov. 16, 2010 (GLOBE NEWSWIRE) -- Swisher Hygiene Inc. ("Swisher Hygiene") (TSX:SWI), a leading full-service hygiene solutions provider, today announced that it has filed a registration statement on Form S-1 with the Securities and Exchange Commission ("SEC") registering for resale 74,402,475 shares of its common stock held by certain stockholders. Swisher Hygiene will not sell any shares in the offering and will not receive any of the proceeds from any sale of the shares by the stockholders.
The shares include all of the shares of common stock that are subject to lock-up agreements, including 50,010,670 shares held by H. Wayne Huizenga and Steven R. Berrard, with the lock-ups continuing through the earlier of (i) the public release of Swisher Hygiene's earnings for the 2011 financial year or (ii) March 31, 2012, during which time the locked-up shares cannot be sold.
The registration statement on Form S-1 is subject to the review of the SEC. The shares may not be sold nor may offers to buy the shares be accepted before the registration statement is declared effective by the SEC. The registration statement may be accessed through the SEC's website at .
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any shares of these securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Cautionary Statement on Forward-Looking Information
All statements, other than statements of historical fact, contained in this news release, including any information as to the future financial or operating performance of Swisher Hygiene, constitute "forward-looking information" or "forward-looking statements" within the meaning of certain securities laws, including the provisions of the Securities Act (Ontario) and are based on the expectations, estimates and projections of management as of the date of this news release unless otherwise stated. Forward-looking statements include, but are not limited to, possible events and statements with respect to possible events. The words "plans," "expects," "is expected," "scheduled," "estimates," or "believes," or similar words or variations of such words and phrases or statements that certain actions, events or results "may," "could," "would," "might," or "will be taken," "occur," and similar expressions identify forward-looking statements.
Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Swisher Hygiene as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. All of these estimates and assumptions have been derived from information currently available to Swisher Hygiene including information obtained by Swisher Hygiene from third-party sources. These assumptions may prove to be incorrect in whole or in part. All of the forward-looking statements made in this news release are qualified by the "Risk Factors" section of Swisher Hygiene's registration statement on Form 10 filed with the SEC and the "Risk Factors" section of the most recently filed management information circular of CoolBrands International Inc. dated September 24, 2010 and Swisher Hygiene's other filings with Canadian securities regulators which are available on Swisher Hygiene's SEDAR profile at www.sedar.com. These factors are not intended to represent a complete list of the factors that could affect Swisher Hygiene.
The forward-looking information set forth in this news release is subject to various assumptions, risks, uncertainties and other factors that are difficult to predict and which could cause actual results to differ materially from those expressed or implied in the forward-looking information.
Swisher Hygiene disclaims any intention or obligation to update or revise any forward-looking statements, except to the extent required by applicable law.
About Swisher Hygiene Inc.
Swisher Hygiene Inc., formerly known as "CoolBrands International Inc.", is a TSX-listed company that provides hygiene solutions to customers throughout much of North America and internationally through its global network of 67 company-owned operations, 12 franchises and 10 master licensees covering the United Kingdom, Ireland, Portugal, the Netherlands, Singapore, the Philippines, Taiwan, Korea, Hong Kong/Macau/China, and Mexico. These solutions include products and services that are designed to promote superior cleanliness and sanitation in commercial environments, enhancing the safety, satisfaction and well-being of employees and patrons. Swisher Hygiene serves customers in a wide range of end-markets, with a particular emphasis on the foodservice, hospitality, retail, industrial and healthcare industries across North America.
CONTACT: Swisher Hygiene Inc. Investor Contact: Amy Simpson (704) 602-7116 ICR Don Duffy (203) 682-8215 Media Contact: Alecia Pulman (203) 682-8332