Pan Global, Corp. Increases Equity Stake in Small-Hydro Plant in Northern India
09 Aprile 2014 - 2:00PM
Marketwired
Pan Global, Corp. Increases Equity Stake in Small-Hydro Plant in
Northern India
CARSON CITY, NV--(Marketwired - Apr 9, 2014) - Pan Global,
Corp. (OTCQB: PGLO) (the "Company") is pleased to announce that on
April 7, 2014, it increased its equity stake in Regency Yamuna
Energy Limited ("RYEL"), a privately-held India corporation
commissioning a 5.7 MW small-hydro project in northern India
("Project Badyar"). Project Badyar is estimated to be 95% complete
and is in the final stages of construction, which is expected to be
complete this month barring adverse weather or unforeseen
circumstances.
To date, the Company has invested an aggregate of $438,992 in
RYEL for an aggregate of 1,862,273 RYEL common shares, representing
approximately 9.46% of the outstanding equity of RYEL.
Photos of Project Badyar can be viewed at the following link:
http://www.slideshare.net/slideshow/embed_code/33051642
The gross proceeds of the April 7th closing will be applied to
Step Two of the First Closing under the Company's October 28, 2013
Stock Purchase Agreement with RYEL and its selling stockholders
pursuant to which the Company is to acquire 100% of RYEL on a
staggered basis. Further details of the Stock Purchase
Agreement are available in the Company's periodic and current
reports filed with the SEC and available on the SEC's website free
of charge at www.sec.gov. The Stock Purchase Agreement contains
pre-closing conditions, customary representations and warranties,
post-closing covenants and mutual indemnification obligations for,
among other things, inaccuracy or breach of any representation or
warranty and any breach or non-fulfillment of any covenant.
About Pan Global,
Corp. Pan Global, Corp., through its wholly-owned
subsidiary, Pan Asia Infratech, Corp., is focused on
environmentally sustainable energy, infrastructure and
technologies. Our aim is to invest in green energy technology and
infrastructure to build an inclusive green economy around the
world.
For additional information, please visit the Company's website
at www.panglobalcorp.com, the contents of which are not
incorporated into this press release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
The foregoing contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995. We intend for these forward-looking statements to be covered
by the safe harbor provisions of the federal securities laws
relating to forward-looking statements. These forward-looking
statements include statements relating to, or representing
management's beliefs about, our future transactions, strategies,
operations, events and financial results. Such forward-looking
statements often contain words such as "will," "anticipate,"
"believe," "plan," "estimate," "expect," "intend," "is targeting,"
"may," "should" and other similar words or expressions.
Forward-looking statements are made based upon management's current
expectations and beliefs and are not guarantees of future
performance. Our actual business, financial condition or results of
operations may differ materially from those suggested by
forward-looking statements as a result of risks and uncertainties
which include, among others, those risks and uncertainties
described in any of our other filings with the SEC. Certain other
factors which may impact our business, financial condition or
results of operations or which may cause actual results to differ
from such forward-looking statements are discussed or included in
our periodic reports filed with the SEC and are available on our
website at www.panglobalcorp.com under "Investor Info". You are
urged to carefully consider all such factors. We do not undertake
or plan to update or revise forward-looking statements to reflect
actual results, changes in plans, assumptions, estimates or
projections, or other circumstances occurring after the date of
this news release, even if such results, changes or circumstances
make it clear that any forward-looking information will not be
realized. If we make any future public statements or disclosures
which modify or impact any of the forward-looking statements
contained in or accompanying this news release, such statements or
disclosures will be deemed to modify or supersede such statements
in this news release.
Disclaimer: This
press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities, and shall not
constitute an offer, solicitation or sale in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful.
Contact Information Pan Global, Corp. Investor Relations Phone:
877-999-7978 Email: PGLO@panglobalcorp.com
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