SOURCE: Freedom Energy Holdings, Inc.

Freedom Energy Holdings, Inc.

August 11, 2014 09:00 ET

Freedom Energy Holdings Announces Sigur Holdings (Pty) Ltd Has Acquired Majority Ownership and Will Create New Board of Directors

FORT WAYNE, IN--(Marketwired - Aug 11, 2014) - Freedom Energy Holdings, Inc. (OTC: FDMF) Tiny Diswai - Moremi the newly appointed Chairman of the Board for Freedom Energy Holdings, Inc. announced today that Sigur Holdings (Pty) Ltd, a dynamic group of companies that was formed in 2010 has taken majority control of the Company and will immediately begin the actions necessary to appoint a new and highly qualified Board of Directors.

Per the Definitive Agreement signed on August 6, 2014, Sigur Holdings gained controlling interest in the Company in exchange for the agreement to assume all current and long term liabilities and to provide the funding for all future acquisitions. To that extent, Sigur Holdings has agreed to inject into Freedom Energy Holdings up to the sum of $10 million dollars to be used for operations and acquisitions.

Ms. Diswai-Moremi stated, "I want to thank Mr. Kistler, for his hard work and dedication that has brought the Company to this point in time and am glad to announce that he has agreed to stay on as CEO, under my supervision as we transition the Company into a major global acquisition company he envisioned when he formed Freedom."

Kistler commented, "I realize that I have taken the company as far as I am capable on my own and am very happy to turn the reigns over to someone as qualified and well versed in the world of international finance as Ms. Diswai-Moremi. I am really looking forward to tapping into her knowledge of international finance."

Effective immediately, there will be the following actions taken:

1. The name of the company will change to Sigur Tech Inc. and the company will operate as a subsidiary of Sigur Holdings (Pty) Ltd.
2. Accordingly, a request will be made with FINRA to change the name and symbol. The Company for the time being will remain domiciled in Maryland.
3. A new website will be developed to reflect the new corporate image. Additionally, we will implement a greater presence on the social media outlets with the new company focus.
4. As announced Effective July 29, 2014 the Plan for future dividends for the spin out of the currently owned Technologies and wholly owned subsidiaries will remain in force as disclosed in the earlier release.

This transaction was advised, facilitated and arranged by Sigur Capital Ltd

ABOUT SIGUR PALACE INC.
Sigur Palace is a residential and commercial Real Estate development and investment holding company focusing on providing Africans with good quality and yet affordable housing, we are also active in the development of the low cost housing under the African National Congress (ANC) led South African Government's Reconstruction and Development Programme ( RDP) with special focuses on quantity and productivity, not just to impress our client ( the government) but also to ensure safe and comfortable living for the underprivileged new home owners that are given mercy by the South African government to own houses and have a title deed on their name . We pride ourselves as not being a typical development company -- we strive to provide a product and service of the highest quality and standard. At the same time, we provide our portfolio companies assistance in the areas of strategy, executive team recruiting, operational execution and raising capital. We take a hands-on approach from the very beginning, partnering with talented management to transform their vision into reality.

FORWARD LOOKING STATEMENT-This press release contains certain "forward‐looking" statements, as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Statements, which are not historical facts, are forward‐looking statements. The Company, through its management, makes forward‐looking public statements concerning it expected future operations, performance and other developments. Such forward‐looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no factors that could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, the Company's ability to develop operations, the Company's ability to consummate and complete the acquisition, the Company's access to future capital, the successful integration of acquired companies, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition, sales and other factors that may be identified from time to time in company's public announcements.

Contact Information

  • Contact Information:
    Brian Kistler
    CEO
    260-490-9990