International Power Group, Ltd. Announces Plan to Locate AddPower Technology in Nevada Corporation and Conduct Future IPO
2008年12月31日 - 3:13AM
Marketwired
International Power Group, Ltd. (OTCBB: IPWG) today announced that
its Board of Directors has approved a plan to locate the Company's
AddPower low temperature turbine waste-heat-to-energy technology
into a wholly owned Nevada Corporation subsidiary. Under this plan,
which will require shareholder approval, each record date
shareholder in International Power will receive one share of the
new Nevada subsidiary (AddPower, Inc.) for every ten shares of
International Power, and an initial public offering of shares in
AddPower, Inc. will follow.
Said International Power's new Chairman, Dr. Daniel Conte, "We
are working hard to enhance shareholder value by restructuring the
Company and placing primary emphasis on commercializing our crown
jewel AddPower technology. The placement of AddPower in a wholly
owned United States subsidiary will give us much needed flexibility
as we continue to negotiate with entities that have expressed keen
interest in the assisting with the commercialization of our
technology. More details of our restructuring plan will be
announced in the near future, and we thank our shareholders for
their continued and unwavering support."
FORWARD-LOOKING STATEMENTS: This press release contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended (the "Exchange Act"),
and as such, may involve risks and uncertainties. For a discussion
of such risks and uncertainties that could cause actual results to
differ from those contained in the forward-looking statements, see
"Risk Factors" in the Company's Annual Report on Form 10-KSB, as
amended, for the most recently ended fiscal year. Forward-looking
statements, which are based on certain assumptions and describe
future plans, strategies, and expectations, are generally
identifiable by the use of words such as "believe," "expect,"
"intend," "anticipate," "estimate," "project," or similar
expressions. These forward-looking statements relate to, among
other things, expectations of the business environment in which the
Company operates, projections of future performance, potential
future performance, perceived opportunities in the market,
quotation on the OTC Bulletin Board and statements regarding the
Company's mission and vision. The Company's actual results,
performance, and achievements may differ materially from the
results, performance, and achievements expressed or implied in such
forward-looking statements.
CONTACT: International Power Group, Ltd. John Benvengo CEO
407-566-0318 www.i-pwg.com
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