SOURCE: McKenzie Bay International

McKenzie Bay International

January 29, 2015 13:36 ET

McKenzie Bay Intl. and CGE Energy Statement to Shareholders

BRIGHTON, MI--(Marketwired - Jan 29, 2015) -  To better prepare our shareholders and the public for the first phase of the McKenzie Bay International (OTC PINK: MKBY) merger with Clean Green Energy LLC (CGE, DBA CGE Energy), we would like to issue the following statement.

What to expect as shareholders

We want to make sure everyone knows what to expect after January 31st. The companies, in a legal sense, will be functionally merged, with CGE being acquired by MKBY. A new leadership board will be enacted, and Bryan Zaplitny will assume the role of President/CEO. Please note that you will not see the MKBY ticker change and you will not see your shares reversed 1-25 at this time.

By the end of February, the FINRA related items will be filed. This will finalize the 1-25 reverse stock split, the official name change to CGE Energy Inc., and the ticker symbol and cusip number change. Soon thereafter, new stock certificates will be issued for holders of paper MKBY certificates, and MKBY shareholders in brokerage accounts will receive new stock certificates electronically.

What to expect from the new CGE

Historically, McKenzie Bay has been most recently linked to a wind turbine. As MKBY transitions to the new CGE Energy, the old focus on just the wind turbine technology will transition into new diversified energy solutions, showcasing the best of energy efficiency, our new patented WIND-e20 turbine, SolarWorld solar PV, and Cree LED. This will effectively place emphasis on a financial business model that brings multiple long-term revenue streams to the company.

Within our contracts, the above energy solutions are more profitable as a whole than in part, and our customers will now receive the best solution for their facilities. Each of our energy projects is an opportunity to guide customers into our complete "integrated energy solution," providing a way to add future technologies as they become available. 

Our primary revenue streams include:

  • Power Purchase Agreement (PPA) contracts: this includes WIND-e20, Solar PV and efficiency upgrades. These are 20-year contracts.
  • Direct sales: this includes Solar PV and efficiency upgrades.
  • International direct sales: this includes WIND-e20, Solar PV and efficiency upgrades.
  • RAMP Lighting Maintenance contracts: long-term lighting maintenance service. These are typically 36-120 month contracts.
  • Energy programs: other programs coordinating with utilities and helping non-profits.

What to expect from the CGE team

"Power to make a difference." Those are the five words that reside underneath our new CGE Energy logo. These words are more than a simple a catchphrase to us, they are the bedrock on which we base all that we do. Generating power and reducing energy costs may be what we do, but making a difference is why we come to work each and every day.

About McKenzie Bay International:
McKenzie Bay is an energy technology holding company focused on the acquisition of exclusive rights to renewable energy technologies. www.mckenziebay.com

About CGE Energy
CGE Energy is a renewable energy and energy efficiency company headquartered in Brighton, Michigan. For more than 20 years, the company has provided energy solutions and is now offering Power Purchase Agreements. Today the company serves customers in the U.S. and abroad, using energy efficient technologies that include Cree LED lighting, their patented WIND-e20® wind turbine and SolarWorld solar generation. CGE is merging with publicly traded McKenzie Bay International (MKBY: OTCPink) on January 31st, 2015. http://www.cgeenergy.com

Certain statements made in this release constitute forward-looking statements and do not guarantee future performance. Actual results or developments may differ materially from the projections in the forward-looking statements.

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