COLORADO SPRINGS, CO--(Marketwired - Apr 4, 2013) - STL Marketing Group, Inc. (PINKSHEETS: STLK) announced today that the Company's Board of Directors has unanimously transferred all (100%), of the "cuotas" or shares of Energia Renovable Versant SRL, a duly registered Costa Rican company, from Versant Corporation to STL Marketing Group. Energia Renovable Versant SRL holds 100% of the Costa Rican operating company that is expected to sign the anticipated Power Purchase Agreement.
"The Board decided that it did not make sense to have two US holding companies. As a result, the Board elected to have the Energia Renovable Versant SRL ownership transferred in full to STLK. This consolidation will streamline our accounting and management processes," said Jose P. Quiros, STLK's CEO.
About STL Marketing Group, Inc./ Versant Corporation
Versant Corporation is a subsidiary of STL Marketing Group, Inc. and a Colorado based company. It is developing a renewable energy project in Costa Rica. For more information on STLK, please visit our web site at www.STLmarketingGroup.com.
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plan, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks described in statements filed from time to time with the Securities and Exchange Commission. All such forward-looking statements whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements that may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.