CORAL SPRINGS, Fla.,
Nov. 14, 2013 /PRNewswire/ -- Trans
Global Group, Inc. (PINKSHEETS: TGGI) subsidiary Green Energy
Savings Corp ("Green Energy") has executed an agreement to acquire
Prestige Solar Products Inc. ("Prestige Solar") a Florida company licensed with the State of Florida to install solar products as
a wholly owned subsidiary.
Prestige Solar has been selling and installing solar products in
Florida since 2009 utilizing an in
house sales staff and two outside sales organizations. In
2012 VersaGreen Energy entered into an agreement with Prestige
Solar to complete installations for its sales force.
The purchase of Prestige Solar will add an additional 20% to the
bottom line for Green Energy. A typical sale average is about
$12,000 of which up to 50% will now
go toward Green Energy's bottom line revenues.
The purchase price is $200,000 of
which $50,000 is due at closing on
December 15, 2013 and the balance
$150,000 is spread out over a 12
month period beginning March 1,
2014. The current owners have agreed to work with Green
Energy for 6 months for a smooth transition and provide audited
financials for the last 2 years.
Green Energy has secured a commitment for the purchase of
Prestige Solar, which will be in the form of a private
placement at $.05 per
share.
More developments will be released in the coming weeks for both
Trans Global Group and Green Energy Savings Corp.
The foregoing press announcement contains forward-looking
statements that can be identified by such terminology such as
"believes," "expects," "potential," "plans," "suggests," "may,"
"should," "could," "intends," or similar expressions. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results
to be materially different from any future results, performance or
achievements expressed or implied by such statements. In
particular, management's expectations could be affected by, among
other things, uncertainties relating to our success in completing
acquisitions, financing our operations, entering into strategic
partnerships, engaging management and other matters disclosed by us
in our public filings from time to time. Forward-looking statements
speak only as to the date they are made. The Company does not
undertake to update forward-looking statements to reflect
circumstances or events that occur after the date the
forward-looking statements are made.
For additional information about this release please contact
Christopher J Clarke
chris@transglobalgroupinc.com
954-509-3749
SOURCE Trans Global Group, Inc.