SOURCE: Pan Global Corp.

July 31, 2014 07:00 ET

Pan Global, Corp. Shareholder Update: Small-Hydro Plant Connected to Power Grid in Northern India

CARSON CITY, NV--(Marketwired - Jul 31, 2014) - Pan Global, Corp. (OTCQB: PGLO) (the "Company") today announces that the 5.7MW small-hydro plant the Company is in the process of acquiring northern India ("Project Badyar") through its staggered acquisition of Regency Yamuna Energy Limited ("RYEL") has been connected to the power grid. 

Final construction of Project Badyar, according to RYEL, has been divided into two final stages: pre-commercial operation date ("Pre-COD") and post-commercial operation date ("Post-COD"). RYEL management has notified the Company that Pre-COD major construction works have been completed. RYEL management is now undertaking testing, certification and other activities in connection with achieving commercial operations. The certification process includes receipt of certificates of completion and operation from the state government and RYEL's engineers and suppliers based on standard industry testing parameters. Connection to the power grid is part of the process leading to the determination that COD has been achieved. Power generation is scheduled to begin as each of the plant's two turbine engines is tested, first separately and then jointly.

Certain construction activities, including, but not limited to, coating and painting of Project Badyar's conveyance lines, constitute the Post-COD construction.

A slide show about Project Badyar's construction can be viewed through the following hyperlink:
http://www.slideshare.net/slideshow/embed_code/33051642

The Company's Management commented, "We are pleased with RYEL's completion of enough of the construction activities to be able to achieve a key milestone of having Project Badyar connected to the power grid. We look forward to the anticipated commercial operation of the project as the final two stages of construction near completion. We intend to continue to increase 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 Regency Yamuna Energy Limited, an India corporation commissioning Project Badyar, and the RYEL stockholders, pursuant to which the Company has agreed to acquire, on a staggered basis, 100% of the outstanding shares and convertible debt (if not previously converted) of RYEL. The Company currently owns an aggregate of 93% of the outstanding equity 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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