SOURCE: NexGen Holdings Corp.
PHOENIX, AZ--(Marketwired - Mar 27, 2014) - NexGen Holdings Corp. (PINKSHEETS: XGEN) announced today that Nick Palumbo has been appointed to the Board of Directors of the Company's wholly owned alternative energy subsidiary, WindPower Solutions, Inc.
Mr. Palumbo is currently an officer of WindPower Solutions who is primarily responsible for new business development. In that capacity Mr. Palumbo has added new products to the Company's offerings including the ability to sell Solar Tax credits with WindPower projects and has begun to offer the Company's products worldwide with the $27 million dollar letter of Intent recently announced with Arventis.
John Myers, CEO of both NexGen Holdings and WindPower Solutions, commented,"Nick has demonstrated his ability to get results. His knowledge, dedication and relationships are just what this company needed. It was therefore a natural development to ask him to join our board so that he can have even more influence over our strategic decisions."
Nick Palumbo said, "John and I have worked closely together and have built an outstanding working relationship. John has let me make the strategic decision to market our products worldwide, which is already bearing fruit, and this appointment only formalizes the way we already work."
WindPower Solutions is currently finalizing its next project in a joint venture with Arventis to build and install 22 wind turbines in Germany and expects to report more details on this project soon.
About NexGen Holdings Corp.
NexGen Holdings, Corp. is a public holding company that is an acquirer and operator of fundamentally sound subsidiaries that are market accepted, scalable and demonstrate a quantifiable value proposition. To enhance shareholder value our focus is on establishing a foot print in a specific industry through the acquisition of a subsidiary that has strong market presence, brand awareness, talented and dedicated management teams with the potential to achieve exceptional performance over time. Once acquired these companies can expand through additional acquisitions, aggressive marketing and access to our operational support, management approach, and ability to access financial markets for operational and growth capital to build a market leader. NexGen Holdings Corp. currently has two subsidiaries: WindPower Solutions, Inc. which manufactures, repairs and remanufactures wind power turbines and solar power plants for operators worldwide, and R.I.G. Construction, Inc. which under the Cameo brand builds and renovates swimming pools and markets outdoor products to consumers in the Phoenix, Arizona Metropolitan Area. -- For more information go to our websites at: www.wpienergy.com, www.cameopools.com
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This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including those regarding NexGen Holdings, Inc. expectations, intentions, strategies and beliefs pertaining to future events or future financial performance. All statements contained herein are based upon current information available to NexGen Holdings, Inc.'s management as of this date. The business and operations of the Company are subject to substantial risks which increase the uncertainty that forward-looking results will be achieved and actual events or results may vary materially as a result of various important factors including those which management has little or no control. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements.