SOURCE: Perihelion Global

February 02, 2007 12:07 ET

Perihelion Global Board of Directors Approves Resolution to Reduce Authorized Shares by 98%

WILMINGTON, DE and SANTA ROSA BEACH, FL -- (MARKET WIRE) -- February 2, 2007 -- Perihelion Global (PINKSHEETS: PHGI) today announced that its Board of Directors has reached unanimous consent to approve a 98% reduction in the company's authorized shares from approximately 30,000,000,000 to 500,000,000.

The existing authorized share structure was inherited by Perihelion Global from the preceding Vision Works shell that Perihelion acquired via a reverse merger transaction in September 2006. The Board Resolution specifically directs Perihelion Global amend its Articles of Incorporation with the State of Delaware to reflect an authorized share count more aligned with the company's objectives and long-term plans.

"The Board of Directors is pleased to announce a unanimous consent to reduce our authorized shares. The new share structure better reflects who we are and where we are headed as a company and gives our shareholders and the investment community a clear window into our company and our long-term direction. The Board of Directors is committed to a strong share price and we will continue to take actions that build Perihelion Global into a company that is positioned to sustain long-term growth," states John H. Beebe, Chairman, Chief Executive Officer and President of Perihelion Global.

Adds Beebe, "Perihelion Global's future is extremely bright. We had a very successful groundbreaking for our new BioFuel Refinery in Opp, Alabama on Monday. We have tremendous support for this project by Local and State Officials in Alabama. We are moving forward to fully maximize our patented gold mine reserves and expect to have significant revenue from our gold mine this year. We have launched our communications division by adding one of the most powerful licensed radio stations in North America. These are very positive developments for our company and our shareholders."

About Perihelion Global:

Perihelion Global focuses on the acquisition, development and management of technologies, strategic commodity reserves and assets in the energy, natural resource and communications markets. Perihelion's management team specializes in providing solutions for the strategic challenges of 21st Century. We lead with decades of experience in environments that are mission critical in today's global marketplace: Technology, Energy and Communications.


Caution Regarding Forward-Looking Statements

This press release contains historical information as well as forward-looking statements that are based upon our estimates and anticipation of future events that are subject to certain risks and uncertainties that could cause actual results to vary materially from the expected results described in the forward-looking statements. The words "anticipate," "believe," "estimate," "expect," "hopeful," "intend," "may," "optimistic," "preliminary," "project," "should," "will," and similar expressions are intended to identify these forward-looking statements. There are numerous important factors that could cause our actual results to differ materially from those in the forward-looking statements. Thus, sentences and phrases that we use to convey our view of future events and trends are expressly designated as Forward-Looking Statements as are sections of this news release clearly identified as giving our outlook on future business.

These forward-looking statements are subject to significant risks, assumptions and uncertainties, including, among other things, the following important factors that could affect the actual outcome of future events:

--  General economic conditions, either nationally or in our market area,
    that are worse than expected;
--  regulatory and legislative actions or decisions that adversely affect
    our business plans or operations;
--  price competition;
--  inflation and changes in the securities markets that adversely affect
    the fair value of our operations; and
--  changes in our organization, compensation and benefit plans.
We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made, and wish to advise readers that the factors listed above could affect our financial performance and could cause actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements. We do not undertake and specifically decline any obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

Contact Information

  • Contacts:
    John H. Beebe
    Chairman, Chief Executive Officer & President
    Perihelion Global
    866-748-7610 (Toll Free) x 719