TGGI Signs LOI to Sell Ecosafe to ALFE for Share Exchange
February 23 2010 - 8:00AM
Marketwired
Trans Global Group, Inc. (PINKSHEETS: TGGI) and its wholly owned
subsidiary, Ecosafe Insulation of FL ("ECOFL") (www.ecosafeus.com),
have signed an LOI with American Life Holdings Company, Inc.
(OTCBB: ALFE) to acquire ECOFL from TGGI in a share exchange.
TGGI will retain an auditor to audit the financials of ECOFL
upon completion of the audit and execution of the share exchange.
ALFE will file a registration statement to register the shares for
the exchange agreement.
"It is anticipated the audit of ECOFL shall be completed within
60 days followed by the registration statement which shall take
approximately 90 days. Once the audit has been delivered, the share
exchange shall be based on the closing market price of both
companies," commented Mr. Losada, President of TGGI. Mr. Losada is
also the President and majority shareholder of ALFE, acquiring
controlling interest in ALFE in August of 2009 with the goal of
merging ECOFL in to ALFE after approximately a year of incubation.
All shareholders of TGGI shall receive registered free trading
shares of ALFE in the exchange.
ECOFL attended its first trade show in Orlando last week with
encouraging results. The booth had steady traffic and Company
representatives will be following up on all leads generated on the
new foam and installer packages.
ECOFL is acquiring Ecosafe Premium Foam® from American Green
Group, Inc. (PINKSHEETS: AMNE). The Company believes all other
remarks made in the release to be accurate to the best of their
knowledge.
The foregoing press announcement contains forward-looking
statements that can be identified by such terminology such as
"believes," "expects," "potential," "plans," "suggests," "may,"
"should," "could," "intends," or similar expressions. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results
to be materially different from any future results, performance or
achievements expressed or implied by such statements. In
particular, management's expectations could be affected by, among
other things, uncertainties relating to our success in completing
acquisitions, financing our operations, entering into strategic
partnerships, engaging management and other matters disclosed by us
in our public filings from time to time. Forward-looking statements
speak only as to the date they are made. The Company does not
undertake to update forward-looking statements to reflect
circumstances or events that occur after the date the
forward-looking statements are made.
For additional information about this release please contact:
Wallstreet Review 954-617-5663
American Green (CE) (USOTC:AMNE)
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