Clenergen Corporation
OTC Bulletin Board : CRGE

Clenergen Corporation

September 02, 2009 09:55 ET

CORRECTION FROM SOURCE: Clenergen Corporation (OTCBB:CRGE) Completes Share Exchange Agreement for Global Consolidation of Clenergen Operations

NEW YORK, NEW YORK--(Marketwire - Sept. 2, 2009) - Clenergen Corporation (OTCBB:CRGE).

A correction from source is being issued with respect to the release that was disseminated September 2, 2009 at 8:01 am ET. Information was added to the release regarding outstanding shares with Clenergen India Private Ltd and the appointments of Dr Arvind Pandali and Robert Kohn. The complete and corrected release follows.

Clenergen Corporation (OTCBB:CRGE) has completed the share exchange agreement for the UK Company Clenergen Corporation Limited.

On August 30, 2009, Clenergen Corporation entered into a share exchange agreement with Clenergen Corporation Limited, a United Kingdom corporation ("Clenergen UK"). Pursuant to the terms of the share exchange agreement, Clenergen Corporation have agreed to acquire all of the issued and outstanding shares of Clenergen UK's common stock in exchange for the issuance by our company of 70,278,529 shares of our common stock to the shareholders of Clenergen UK.

The consolidation encompasses all outstanding shares with Clenergen India Private Ltd including its 71 MW power purchase agreement with PTC India Ltd.

Dr Arvind Pandali has been appointed Non Executive Chairman and Robert Kohn as Non Executive Vice Chairman

One of the conditions of the share exchange agreement that is material to Clenergen Corporation is that Clenergen UK will have delivered to Clenergen Corporation audited financial statements prepared in accordance with United States GAAP and audited by an independent auditor registered with the Public Company Accounting Oversight Board in the United States.

About Clenergen Corporation

Clenergen Corporation is a publicly listed company on the OTC stock market (symbol CRGE). Clenergen develops Clean Energy Generation projects to address the requirement for renewable and sustainable supplies of electricity. Clenergen Installs and operates Distribution Environmental Power Systems (DEPS) and applies Plant Science to the cultivation of proprietary biomass feedstock's in order to provide sustainable supplies of clean energy to regional, independent clients and national grids. www.clenergen.com.

Contact Information

  • Clenergen Corporation
    Jessica Hatfield
    Communications Director
    0044 (0)207 739 0028
    0044 (0)207 657 3275 (FAX)
    www.clenergen.com