ATLANTA, GA, January 8, 2010 -- East Coast Diversified Corporation (OTCBB: “ECDC”), a Nevada Corporation, (the “Company”) announces the filing of a Form 8-K with the SEC on January 6, 2010, disclosing that the Company’s principal shareholders, owners of a majority of the Company’s issued and outstanding shares, entered into a Securities Purchase Agreement with Mr. Kayode Aladesuyi, CEO of Atlanta-based EarthSearch Communications International Inc., a Delaware Corporation (“EarthSearch”) on December 18, 2009.
Prior to the closing of the Share Purchase Agreement, which the parties expect to occur during the first quarter of 2010, the Company will enter into a share exchange agreement with EarthSearch. Kayode Aladesuyi, CEO of EarthSearch, stated that “This is a new phase for our business and it presents us with the opportunity expand our operations as a public company.”
EarthSearch Communications International, Inc., is a US-based company specializing in GPS-based and wireless solutions. Its operational facilities are located in the United States, Canada and Brazil where, also, its R&D is headquartered. EarthSearch is listed with the Frankfurt Stock Exchange and is currently traded under the symbol 3ES1.
Its expertise with GPS technology, combined with exceptional support and service facilities, distinguishes EarthSearch as the leading manufacturer and supplier of GPS technology in the marketplace.