CARSON CITY, NV--(Marketwired - Apr 3, 2014) - Pan Global, Corp. (OTCQB: PGLO) (the "Company") today announces the 3rd of a five-part series of press releases intended to provide its 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 acquisition.
In today's Part C of the analysis series, the Company is proud to provide shareholders with a slideshow presentation unveiling, through photos and specific details made public for the first time, the 5.7MW small-hydro project in northern India ("Project Badyar") currently in the process of being acquired by the Company on a staggered basis.
To view the Project Badyar slideshow presentation, please click HERE.
The Company will also post the slideshow presentation on its website at www.panglobalcorp.com.
The presentation's highlights include the following:
- Construction of Project Badyar is scheduled to be completed this spring, or more specifically, within the next 15 to 30 days, barring any adverse weather conditions or other unforeseen circumstances;
- The Project Badyar is expected to have a lifespan of 35 years and to operate 24/7, 365 days/year; and
- The Badyar Project is anticipated to provide 27,500 MW per year, covering the demand of approximately 100,000 Indian households.
The Company's management commented, "We are extremely proud to share today with our shareholders more detail of the first small-hydro plant we are working towards acquiring. RYEL has done a tremendous effort over the past few years in getting the Project Badyar construction to this stage. Once construction is completed, the process of getting Project Badyar connected to power grid is intended to begin immediately so that the plant can commence commercial operations as soon as possible. We are excited to be involved and look forward to the future and intend to continue increasing our equity interest in RYEL under our acquisition agreement with them."
The Company is in the process of acquiring 100% of Project Badyar through its staggered acquisition of 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 further, "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 remain committed to our long term goal of building shareholder value."
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 Regency Yamuna Energy Limited, an India corporation commissioning the Project Badyar ("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.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
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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