Greystone Logistics Announces New Accounting and CFO Services Agreement with Forvis Mazars, LLP

Rhea-AI Summary

Greystone Logistics (OTCQB: GLGI), a manufacturer of recycled plastic pallets, has partnered with Forvis Mazars, LLP for accounting and CFO services. The agreement encompasses quarterly and annual public filing services along with CFO-level support. CEO Warren Kruger highlighted Forvis's expertise in public company reporting and financial management as key benefits for executing their growth strategy.

The company also confirmed the implementation of a mandatory 30-day waiting period for their previously announced stock buyback program, which will commence on December 20, 2024.

Positive

• Secured professional financial services partnership with established firm Forvis Mazars
• Implementation of stock buyback program confirmed for December 20, 2024
• Streamlined financial reporting processes through professional oversight

Negative

• Additional expenses for outsourced CFO and accounting services

TULSA, Okla., Dec. 17, 2024 (GLOBE NEWSWIRE) -- Greystone Logistics, Inc. (OTCQB: GLGI), a leading manufacturer of 100% recycled plastic pallets and other related products, today announced that it has entered into an agreement with Forvis Mazars, LLP, a national accounting, tax, and advisory firm, to provide quarterly and annual public filing services as well as CFO-level support for the company.

"We are extremely impressed with the capabilities and communication from the Forvis team," said Warren Kruger, CEO of Greystone Logistics. "Their deep expertise in public company reporting and financial management will be invaluable as we continue to execute on our growth strategy. This new relationship allows us to streamline our reporting processes and focus on driving value for our shareholders."

Under the terms of the agreement, Forvis will be responsible for preparing Greystone's quarterly and annual financial filings, as well as providing ongoing CFO-level guidance and oversight. This will enable the company to efficiently meet its public reporting requirements. In anticipation of the signing of the agreement, Greystone implemented the mandatory 30-day waiting period required to initiate the previously announced stock buyback program beginning December 20, 2024.

About Greystone Logistics

Greystone Logistics is a “green” manufacturing company that reprocesses recycled plastic and designs, manufactures and sells high-quality 100% recycled plastic pallets that provide logistical solutions for a wide range of industries such as the food and beverage, automotive, chemical, pharmaceutical and consumer products. The Company’s technology, including a proprietary blend of recycled plastic resins used in the injection molding equipment, extrusion lines and patented pallet designs, allows production of high-quality pallets more rapidly and at a lower cost than many other processes. The recycled plastic for Greystone’s pallets helps control material costs while reducing environmental waste and provides cost advantages over users of virgin resin. For more information about Greystone Logistics and its innovative products, please visit www.greystonepallets.com

About Forvis Mazars, LLP

Forvis Mazars, LLP is an independent member of Forvis Mazars Global, a leading global professional services network. Ranked among the largest public accounting firms in the United States, the firm’s 7,000 dedicated team members provide an Unmatched Client Experience^® through the delivery of assurance, tax, and consulting services for clients in all 50 states and internationally through the global network.

Visit www.forvismazars.us to learn more.

Forward-Looking Statements

This press release contains forward-looking statements. All statements other than statements of historical facts included in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by words such as “believe,” “expect,” “anticipate,” “plan,” “potential,” “continue” or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors, risks and uncertainties are discussed in the Company’s filings with the Securities and Exchange Commission. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company’s control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company’s current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

Contact

Brendan Hopkins
Investor Relations
Email: investorrelations@greystonelogistics.com
Phone : (407) 645-5295
https://www.greystonepallets.com

FAQ

When will Greystone Logistics (GLGI) start its stock buyback program?

Greystone Logistics will initiate its stock buyback program on December 20, 2024, following the mandatory 30-day waiting period.

What services will Forvis Mazars provide to Greystone Logistics (GLGI)?

Forvis Mazars will provide quarterly and annual public filing services as well as CFO-level support and guidance for Greystone Logistics.

How will the Forvis Mazars agreement benefit Greystone Logistics (GLGI)?

The agreement will help streamline reporting processes, provide financial management expertise, and allow the company to focus on driving shareholder value.

What is the significance of the Forvis Mazars partnership for GLGI investors?

The partnership provides professional financial oversight and improved reporting efficiency, potentially leading to better financial management and shareholder value creation.