(NVAE) Savanna East Africa On-Demand Webcast Details Recent Acquisition, Two Pending Acquisitions, Planned 1st Quarter Spinoff D
10 Dicembre 2010 - 4:20PM
Marketwired
Savanna East Africa, Inc. (PINKSHEETS: NVAE) (OTCQB: NVAE) is
scheduled to release an on-demand Webcast today that is expected to
discuss its recently announced acquisition in Kenya as well as
provide more detail on two pending acquisitions and a planned
operation spinoff in the first quarter of 2011. The recent
acquisition is the first of three acquisitions anticipated before
year-end. The three acquisitions are expected to substantially
contribute to the Company's $10 million in revenue anticipated in
2011.
Yesterday, Savanna East Africa announced plans to spin off the
Company's oil and gas operations in the first calendar quarter of
2011. Earlier this year, the Company announced executing an
acquisition agreement to acquire a $1.4 million oil drilling asset
to support the Company's plan to redevelop known oil reserves. The
spinoff will contribute to increased focus on Savanna's business
plan for Africa. Savanna is concentrated on developing a portfolio
of potentially high growth companies concentrated on the East
African market. Savanna has been organically developing technology
and construction operations. Savanna has engaged technology
projects in East Africa in partnership with other NewMarket
Technology, Inc. (PINKSHEETS: NWMT) (OTCQB: NWMT) Greenfield
Partners. Savanna and Greenfield Partner China Crescent
Enterprises, Inc. (OTCBB: CCTR) recently announced a GPS-enabled
radio communication sale in Kenya.
The Webcast will be posted to the corporate website at
www.savannaea.com and will be available directly at
http://tinyurl.com/SEAWebcast upon release.
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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