SOURCE: SNM Global Holdings

July 28, 2011 12:01 ET

SNM Global Holdings Issues Update

LAS VEGAS, NV--(Marketwire - Jul 28, 2011) - SNM Global Holdings (PINKSHEETS: SNMN) is a holding and development company that invests, acquires and develops Sports/Entertainment Properties, Intellectual Property Assets and Operations in various industries such as Alternative Energy, Sports/ Entertainment and IT/Social Media/Technology sectors.

To All of Our Shareholders:

"Last Thursday, a press release was issued on behalf of our company and statements were made of a new business plan and new management. These statements are incorrect and I have taken all the necessary steps to resolve this situation and I am confident that all parties will realize reality as was stated in the January 11, 2011 press release that I acquired the Preferred Series 'A' that votes 50.1% no matter how many common shares are issued and outstanding. The Preferred Share designation has been in effect since 2006 and continues through today. Indeed, the prior owner took an action before the sale to increase the authorized shares using a Consent of Shareholder predicated on this designation. Our counsel has informed us that no such action may be taken by Shareholder Consent because of various components of Nevada State Corporate Law.

"As stated in the previous release -- Please note that discrepancies from April-October 2010 will not be honored and all necessary actions will be taken to recover two billion shares that we believe were improperly issued by prior management.

"I am also in talks for additional acquisitions and will have announcement in the coming weeks.

"I was well aware of the challenges when I entered into this deal and I want to thank all of the shareholders for your patience as we continue with the execution of our business plan."

David LaFave
SNM Global Holdings

"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements to be materially different from the statements made herein.

Contact Information

  • David LaFave
    SNM Global Holdings
    Email Contact: Email Contact