(NVAE) Savanna East Africa, Inc. Announces Acquisition in Kenya With Two More Anticipated Before Year End, Together Expected to
02 Dicembre 2010 - 3:05PM
Marketwired
Savanna East Africa, Inc. (PINKSHEETS: NVAE) (OTCQB: NVAE) today
announced the first of three acquisitions anticipated before year
end. Savanna is a fully-reporting Company with audited financial
statements. Earlier this year, Savanna launched a business plan
expansion strategy directed at acquiring and developing a portfolio
of high growth potential operations in Africa. The acquisition
today marks the first acquisition after months of preparation.
Management anticipates rapidly executing two additional
acquisitions. The three acquisitions are expected to substantially
contribute to the Company's $10 million in revenue anticipated in
2011.
The acquisition announced today establishes an operating
platform for Savanna in East Africa. The Company has worked closely
over the past year with NewMarket Technology, Inc. (PINKSHEETS:
NWMT) (OTCQB: NWMT) as part of the NewMarket Greenfield Partnership
Program. Through the Greenfield Program, a Nairobi-headquartered
company was established last year to begin developing high growth
business opportunities in East Africa. The Nairobi-based company
was similarly named Savanna East Africa, Ltd. Savanna East Africa,
Inc. has acquired a majority interest in Savanna East Africa, Ltd.,
and the two additional pending acquisitions would be executed by
Savanna East Africa, Ltd.
In addition to the two additional pending acquisitions in East
Africa, Savanna has been organically developing technology and
construction operations. Savanna has engaged technology projects in
East Africa in partnership with other NewMarket Greenfield
Partners. Savanna and Greenfield Partner China Crescent
Enterprises, Inc. (OTCBB: CCTR) recently announced a GPS-enabled
radio communication sale in Kenya. To learn more about Savanna East
Africa visit the Company's website at www.savannaea.com.
Savanna East Africa Information and Email
Newsletter To learn more about Savanna East Africa and to sign
up for company email alerts, please visit the corporate website at
www.savannaea.com.
About Savanna East Africa, Inc.
(www.savannaea.com) Savanna East Africa, Inc. (PINKSHEETS: NVAE) (OTCQB:
NVAE) launched an updated corporate strategy early this year to
pursue several business lines in the growing economy of East
Africa, initially in Kenya. Savanna has already begun several
initiatives in the region to include initiatives in the Technology,
Utility, Housing and Health products industries. The Company is
also continuing to grow its existing oil and gas reclamation
business with new management and business strategies. Savanna East
Africa is a fully-reporting company with audited financial
statements quoted on the new 'OTCQB.'
SAFE HARBOR STATEMENT UNDER THE PRIVATE
SECURITIES LITIGATION REFORM ACT OF 1995 This press release
contains forward-looking statements that involve risks and
uncertainties. The statements in this release are forward-looking
statements that are made pursuant to safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Actual results,
events and performance could vary materially from those
contemplated by these forward-looking statements. These statements
involve known and unknown risks and uncertainties, which may cause
the Company's actual results in future periods to differ materially
from results expressed or implied by forward-looking statements.
These risks and uncertainties include, among other things, product
demand and market competition. You should independently investigate
and fully understand all risks before making investment
decisions.
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Contact: Savanna East Africa, Inc. Email Contact
214-722-3044
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