SOURCE: Perihelion Global

June 12, 2007 12:55 ET

Perihelion Global Executes Letter of Intent to Acquire NASDAQ OTCBB Company

WILMINGTON, DE and SANTA ROSA BEACH, FL--(Marketwire - June 12, 2007) - Perihelion Global (PINKSHEETS: PHGI), a development company with interests in natural resources, alternative energies, and advanced communications, today executed a formal Letter of Intent to acquire a NASDAQ OTCBB shell company. Once the proposed transaction is completed, the company will list its shares under the name Perihelion Global on the NASDAQ OTCBB by virtue of the acquisition.

The Letter of Intent will allow the Perihelion to finalize due diligence on the OTCBB-listed company and complete the required formal Sarbanes-Oxley compliant audits of Perihelion's assets. Perihelion Global has retained an audit firm that has specialized expertise in the field of mining and mining claims, which will enable the company to provide a full, clear, accurate and lawful accounting to the public of its patented gold mine and surrounding claims as well as its other assets.

The proposed transaction is subject to approval of the Board of Directors of both Perihelion Global and the OTCBB-listed entity, as well as majority shareholder consent in both companies. Prior to executing the Letter of Intent the company conducted due diligence on over a dozen different listed companies over the past couple of months.

Perihelion Global Chairman, Chief Executive Officer, and President, John H. Beebe, stated, "We are pleased be able announce that we have entered into a Letter of Intent that will facilitate our orderly transition to the NASDAQ OTCBB. We are following through on our commitments to build Perihelion Global into a fully transparent, high-growth company with maximum returns for our shareholders and have made tremendous progress since the company's inception just 9 1/2 months ago. We have acquired a patented gold mine with certified reserves, filed additional mining claims on approximately 900 surrounding acres, and acquired another 299 acres with active rail service on-site. We have received permits from the State of Utah to start mining and have also been granted an exclusive right of way by the US Department of Interior, Bureau of Land Management to construct, maintain and operate a roadway across federal land to enable access to our patented gold mine and surrounding claims. We have clearly documented all of this to our shareholders by providing access to these documents in the public domain."

Adds Beebe, "This past weekend, we began construction of the roads to the mine across federal land. In addition, we are moving forward with the construction of our BioFuel Refinery in Opp, Alabama, and have added key members to our management team. We are also revamping our company's website to better serve our shareholders and provide a cleaner, fresh look for our company. Our company's future is bright, and we feel that the time is right to move to the NASDAQ OTCBB to provide greater transparency for the investing public of what we have and are accomplishing. As always, we will continue to keep our shareholders up to date with new developments on our growth."

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 the 21st Century. We lead with decades of experience in environments that are mission critical in today's global marketplace: Technology, Energy and Communications.

Website: http://www.perihelion.com

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

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