Tiger Renewable Termination with Wellington
2009年5月5日 - 11:00PM
PRニュース・ワイアー (英語)
HONG KONG, May 5 /PRNewswire-FirstCall/ -- Tiger Renewable Energy
Limited (OTC:TGRW.OB) (BULLETIN BOARD: TGRW.OB) announces that as
of April 28, 2009, it has reached a mutual agreement with
Wellington Capital Management Inc., to terminate its Working
Interest Purchase and Sale Agreement in Oil and Gas Leases in the
GP Project which covers the Fowlkes Station leases as per an
agreement dated January 29, 2009. Tiger and Wellington have also
entered into a Termination and Discharge of the Convertible Note
Agreement, and on April 30th, 2009 the parties have agreed to a
Mutual Release. Tiger and Wellington have mutually agreed to
terminate the Agreements in view of the current business
environment and difficulty in raising capital. Forward-Looking
Statements This press release contains "forward-looking statements"
as defined in the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are based on currently available
competitive, financial and economic data and management's views and
assumptions regarding future events. Such forward-looking
statements are inherently uncertain. The Company cannot provide
assurances that the matters described in this press release will be
successfully completed or that the Company will realize the
anticipated benefits of any transaction. Actual results may differ
materially from those projected as a result of certain risks and
uncertainties, including but not limited to: global economic and
market conditions; the war on terrorism and the potential for war
or other hostilities in other parts of the world; the availability
of financing and lines of credit; successful integration of
acquired or merged businesses; changes in interest rates;
management's ability to forecast revenues and control expenses,
especially on a quarterly basis; unexpected decline in revenues
without a corresponding and timely slowdown in expense growth; the
Company's ability to retain key management and employees; intense
competition and the Company's ability to meet demand at competitive
prices; relationships with significant suppliers and customers; as
well as other risks and uncertainties, including but not limited to
those detailed from time to time in the Company's SEC filings. The
Company undertakes no obligation to update information contained in
this release. For further information regarding risks and
uncertainties associated with the Company's business, please refer
to the risks and uncertainties detailed from time to time in the
Company's SEC filings. To learn more about our company please visit
our web site at http://www.tigerethanol.com/ DATASOURCE: Tiger
Renewable Energy Limited CONTACT: Tiger Renewable Energy Ltd., ,
+1-514-402-2538 Web Site: http://www.tigerethanol.com/
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