SOURCE: Kenergy Scientific, Inc.

November 17, 2017 14:14 ET

Kenergy Scientific, Inc. Clarifies Status of Parliament Holdings Inc. Acquisition

MIAMI, FL--(Marketwired - Nov 17, 2017) -  Kenergy Scientific, Inc. (OTC PINK: KNSC) is issuing this press release to clarify comments made by a reporter for the Orlando Sentinel in an online article dated November 16, 2017.

The title of the article indicated that the announcement was "premature." Factually, that statement is incorrect. The press release issued by the Company on November 13 was in fact correct in its statements that Parliament Holdings, Inc. had signed a definitive agreement with Kenergy Scientific, which was the only acquisition that took place. The Company and Parliament Holdings are working now to complete the detailed implementation plans for merging their operations together, which includes transition of management positions and future planning for growth.

We believe the headline created confusion when a question was asked of Mr. Granastein regarding the various Parliament House properties, to which he responded with "that is premature at this time."

"As a publicly traded Company, KNSC applies a very conservative approach to the release of any information to the public, and cannot, and will not, confirm or deny any future plans except when we are prepared to release that information publicly via official filings or press releases," stated Erwin Vahlsing, Jr., the current President of the Company. "Future plans will only be revealed or confirmed when the Company feels they are ready for disclosure," he concluded.

About the Company:

With the divestiture of the Hibachi Grille, KNSC has reassessed its corporate direction, and is now focusing on the resort and entertainment market for future growth. 

About Parliament Holdings:

As the world's premier, and only, iconic brand in the Gay community for 40 years, the Parliament House name and reputation is a significant competitive advantage. To date, no one has created the necessary infrastructure to capture all phases of the gay lifestyle -- until now.

Parliament Holdings, Inc. will bring together the resources needed to engage the gay community on all levels, and in every phase of their life -- relaxation and fitness, banking and insurance, and senior care, all dedicated to the unique needs of the gay community. 

Added to these is the overall management and operations processes that have been put in place by Parliament Partners Holdings' management which set apart the overall experience of its guests. These processes assure that each customer experiences a secure, relaxing, and enjoyable visit. 

Parliament Partners social media receives 5,000 unique visitors per day making it the place others come in their attempts to reach the gay community.

Safe Harbor Statement: The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "explores," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, and various other factors beyond the Company's control.

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