The merger has been completed to the effect that GEM has become a publicly traded company and in addition, CDSS will change its name to Green Energy Management Services Holdings.
GEM offers its clients different forms of energy efficiency systems in two functional areas: energy efficient lighting upgrades and renewable energy generation.
As a result of the merger, the former GEM shareholders have been issued shares of CDSS’ common stock in exchange for their shares of GEM and they will own approximately 80% of the public company with CDSS’ shareholders owning the balance.
Further, GEM CEO, Michael Samuel, has been appointed as chairman, president, CEO and a director of CDSS, while GEM chief financial officer, Robert Weinstein has retained his position in CDSS.
Samuel said that the company is excited to have completed the process to become public as it sees strong interest from public and private entities looking to reduce their cost of energy and energy management.
“This interest is leading to promising opportunities for GEM to provide both the technology and management expertise that will result in its customers dramatically lowering their energy costs,” Samuel said.
