TGI Solar (TSPG) CEO Corporate Update; August 2011
August 25 2011 - 3:45PM
Marketwired
TGI Group (PINK SHEETS: TSPG) CEO Henry Val addresses the current
state of company as the management undergoes significant corporate
changes, in view of the company's current share price.
Mr. Val stated, "We are proceeding with our asset sales and
continue with our core business of alternative energy. The Edgetech
endeavor, as previously announced, was always a short term hold for
us, and in regards to the sale of Edgetech, the process did take
longer than expected due to the buyer's thorough due diligence. We
are pleased to report that we expect the definitive agreement to be
announced shortly."
"In consideration of the sale of other noncore assets, we are
seeking the best way of divesting these assets without infringing
on our creditors and shareholders to achieve optimal value for all
parties. This plan is well under way. Upon completion of these
transactions, the company will fully focus on the renewable energy
sector with the possibility of a merger if a legitimate opportunity
presents itself. With respect to the Solar Energy concentration of
TGI, we continue to pursue our International interests in the
Philippines, the high capacity production capability of solar
panels in South America, and the combination of Waste to Energy and
solar power."
"We are looking forward to, among other things, enhancing the
shareholders' value in TGI. This has become our top priority.
Contrary to some circulating rumors, our shareholders have been
advised that TGI management has no plans of conducting any sort of
a stock split, nor is this a topic of any relevance to the
company."
"We remain cognizant of the sluggish share price and are
currently strategizing on how to restructure and pay down debt, and
complete the sale of all non-core assets in pursuit of optimal
value for the company and its shareholders. More details on our
progress will follow shortly, then incrementally but
frequently."
About TGI Solar
TGI SOLAR POWER GROUP INC. (www.tgisolar.com) is a diversified
holding company. The Company offers its products and services to
clients on a worldwide basis and currently maintains JVs and
strategic alliances with installation, integration and energy
consulting firms. TGI's strategy is to acquire new patented
technologies, components, processes, designs and methods with
commercial value that will give market advantage and generate
shareholder value.
Safe Harbor Statements under the Private Securities Litigation
Reform Act of 1965: Those statements contained herein which are not
historical are forward-looking statements, and as such, are subject
to risks and uncertainties that could cause actual operating
results to materially differ from those contained in the
forward-looking statements. Such statements include, but are not
limited to, certain delays that are beyond the company's control,
with respect to market acceptance of new technologies, or product
delays in the testing and evaluation of products, and other risks,
as detailed in the company's periodic filings with the Securities
and Exchange Commission.
Contacts: TGI Solar Power Group Inc. Henry Val info@tgisolar.com
www.tgisolar.com
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