CARSON CITY, NV--(Marketwired - Mar 28, 2014) - Pan Global, Corp. (OTCQB: PGLO) (the "Company") today announces the first of a five-part series of announcements intended to provide current and prospective shareholders with the Company's analysis of its opportunity in India's green energy industry plus additional details about its small-hydro plant acquisitions. Today's Part A Analysis provides, through industry reports, information to shareholders regarding the potential of India's renewable energy industry. The Company believes in its vision and feels sharing data such as the articles and reports below are key to educating shareholders on the Company's opportunities.
1. The following report from Ernst & Young, LLP provides extensive insights into the growth potential of India's renewable energy sector:
2. The following article discusses the untapped potential of India's renewable energy:
3. The following 2013 report from the Indo-German Forum provides comprehensive analysis of renewable energy in India:
Renewable Energy in India 2013 Overview pdf
As previously reported, the Company is in the process of acquiring 100% of a 5.7MW small-hydro project in northern India (the "Project") through its staggered acquisition of Regency Yamuna Energy Limited, an India corporation commissioning the Project ("RYEL"). The Company recently announced that it has closed on the third tranche of the acquisition and currently holds a 7.51% equity interest in RYEL.
Company management commented, "We look forward to continuing to provide our shareholders with additional information and insights into our vision and plans with this Analysis Series. We believe in the path we have chosen, and are committed to our long-term goal of building shareholder value. We intend to continue increasing our equity interest in RYEL under our acquisition agreement with RYEL."
As previously disclosed, on October 28, 2013, the Company, through its wholly-owned subsidiary, Pan Asia Infratech Corp., entered into a Stock Purchase Agreement ("Acquisition Agreement") with RYEL and the RYEL stockholders, pursuant to which the Company has agreed acquire, on a staggered basis, 100% of the outstanding shares and convertible debt (if not previously converted) of RYEL. Further details of the Acquisition Agreement are available in the Company's periodic and current reports filed with the SEC and available on the SEC's website free of charge at www.sec.gov.
The Acquisition Agreement contains pre-closing conditions, customary representations and warranties, post-closing covenants and mutual indemnification obligations for, among other things, inaccuracy or breach of any representation or warranty and any breach or non-fulfillment of any covenant.
About Pan Global, Corp.
Pan Global, Corp., through its wholly-owned subsidiary, Pan Asia Infratech, Corp., is focused on environmentally sustainable energy, infrastructure and technologies. Our aim is to invest in green energy technology and infrastructure to build an inclusive green economy around the world.
For additional information, please visit the Company's website at www.panglobalcorp.com, the contents of which are not incorporated into this press release.
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The foregoing contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. We intend for these forward-looking statements to be covered by the safe harbor provisions of the federal securities laws relating to forward-looking statements. These forward-looking statements include statements relating to, or representing management's beliefs about, our future transactions, strategies, operations, events and financial results. Such forward-looking statements often contain words such as "will," "anticipate," "believe," "plan," "estimate," "expect," "intend," "is targeting," "may," "should" and other similar words or expressions. Forward-looking statements are made based upon management's current expectations and beliefs and are not guarantees of future performance. Our actual business, financial condition or results of operations may differ materially from those suggested by forward-looking statements as a result of risks and uncertainties which include, among others, those risks and uncertainties described in any of our other filings with the SEC. Certain other factors which may impact our business, financial condition or results of operations or which may cause actual results to differ from such forward-looking statements are discussed or included in our periodic reports filed with the SEC and are available on our website at www.panglobalcorp.com under "Investor Info". You are urged to carefully consider all such factors. We do not undertake or plan to update or revise forward-looking statements to reflect actual results, changes in plans, assumptions, estimates or projections, or other circumstances occurring after the date of this news release, even if such results, changes or circumstances make it clear that any forward-looking information will not be realized. If we make any future public statements or disclosures which modify or impact any of the forward-looking statements contained in or accompanying this news release, such statements or disclosures will be deemed to modify or supersede such statements in this news release.
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