SOURCE: Trans Global Group, Inc.

December 15, 2009 08:07 ET

TGGI to Acquire Ecosafe From American Green Group

FORT LAUDERDALE, FL--(Marketwire - December 15, 2009) - Trans Global Group, Inc. (PINKSHEETS: TGGI), a wholly owned subsidiary Ecosafe Insulation of FL ("ECOFL") (, has reached an agreement with American Green Group, Inc. (PINKSHEETS: AMNE) ( to acquire the company's Ecosafe line.

The Agreement, which calls for respective Shareholder and Director approvals, would give TGGI complete control of Ecosafe Premium Foam®. Under the terms of the Agreement a third party Fairness Opinion is needed to place a fair market value on the Ecosafe division of AMNE. AMNE and TGGI will rescind their joint venture agreement and AMNE will return to TGGI the 50 million shares of TGGI it received in September.

TGGI will also assume certain liabilities of AMNE that are associated with Ecosafe.

TGGI will work with AMNE in developing the "Infinite R" brand and bring the product to market in 2010.

By acquiring Ecosafe Premium Foam® TGGI will be able to grow the company and maintain all the revenue generated in-house. TGGI has the infrastructure in place to ramp up sales and installations of Ecosafe Premium Foam® in 2010.

The Agreement is expected to be signed by the end of December 2009 and completion will take place early in the first quarter of 2010. Once the Agreement is executed TGGI and AMNE will work together for a seamless transaction and TGGI will assume control of the daily operations of Ecosafe.

Neither company anticipates any hurdle in receiving both Shareholder and Director approvals to complete the transaction.

About Ecosafe:

ECOFL is in the business of selling and installing foam insulation and marketing a revolutionary new product called Infinite R.

About TGGI

Trans Global Group, Inc. is in the business of partnering or acquiring GREEN products. It is currently exploring other relationships to add to its Foam line Ecosafe Premium Foam®.

The Company believes all other remarks made in the release to be accurate to the best of their knowledge.

The foregoing press announcement contains forward-looking statements that can be identified by such terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. In particular, management's expectations could be affected by, among other things, uncertainties relating to our success in completing acquisitions, financing our operations, entering into strategic partnerships, engaging management and other matters disclosed by us in our public filings from time to time. Forward-looking statements speak only as to the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

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