SOURCE: Augrid Global Holdings Corporation

March 05, 2008 13:01 ET

Augrid Global Holdings Corporation Nears Completion of Target Acquisition

VINELAND, NJ--(Marketwire - March 5, 2008) - Augrid Global Holdings Corp. (PINKSHEETS: AGHS): a holding company dedicated to acquiring and managing ownership interests in a diverse range of businesses.

MJ Shaheed, CEO of Augrid Global Holdings Corp., stated that "Augrid Global Holdings Corporation is near completion of its first acquisition. AGHS has agreed in principal with all covenants that will bind the two Companies together. The final document has been placed before the lawyers to finalize and make sure that it meets all corporate and securities governance that are applicable. Although this is a very tough time in the securities market and the overall economy, we feel that with this acquisition target the assets, intellectual property and internal projections for sales will give more substance to the Corporation. In addition this being an operating corporation should allow Augrid to seek additional financing."

Augrid Global Holdings Corporation is a holding company that seeks to increase its asset base and shareholder value through the acquisition of private companies in diverse industries that have proven revenue generation abilities, defensible business plans, and a product or service to which its target market has demonstrated receptiveness.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements regarding Augrid Corporation in this release that are not historical in nature, particularly those that utilize terminology such as "may," "should," "likely," "expects," "anticipates," "estimates, "believes" or "plans," or comparable terminology, are forward-looking statements based on current expectations about future events, which Augrid Corporation has derived from the information currently available to it. These forward-looking statements involve known and unknown risks and uncertainties that may cause our results to be materially different from results implied in such forward-looking statements. Important factors known to Augrid Corporation that could cause forward-looking statements to turn out to be incorrect are identified and discussed from time to time in Augrid Corporation's filings with the Securities and Exchange Commission. The forward-looking statements contained in this release speak only as of the date hereof, and Augrid Corporation undertakes no obligation to correct or update any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information

  • Contact:
    Investor relations
    ATG Capital Solutions
    Amanda Flores
    7 North 6th Street
    Vineland, NJ 08360
    Telephone: (858) 764-1820