SOURCE: TransGlobal Assets, Inc
LINCOLN CITY, OR--(Marketwire - Jun 1, 2011) - TransGlobal Assets, Inc. (OTCQB: TMSH) (PINKSHEETS: TMSH) is pleased to formally announce the Company has secured a 5 Million Euro ($7M USD) loan with a reputable Bulgarian bank through WIEC, a Bulgarian corporation and a strategic alliance partner of the Company. The loan is dedicated to the development of a Bulgarian-based PV Solar project. The solar park sought for acquisition is a 2.5 MW project with estimated annual revenues of 1,677,900 Euro ($2,365,839 USD). Under a 20 year contract, estimated revenues are expected to reach 33,558,000 Euro ($47,316,780 USD).
From The President To Our Loyal Shareholders:
A 2011 Progress Report
As the Company enters month six of the aggressive building and acquisition campaign for the new TransGlobal Assets, I would like to recap our progress to date and highlight the full-court press we've conducted to establish this company as a premier, multi-sector holding company with strategic worldwide assets.
During first quarter 2011, we focused on establishing essential operations for the new company and reviewing and contracting projects.
We moved the Company's headquarters from Nevada to Oregon, conducted our first annual shareholder meeting on February 28, and constructed an interim website for the name change/mission transition followed by launching a brand new permanent website to represent the new company. We also actively initiated many SEC filings and public announcements to instill confidence in shareholders of our intentions to be a fully transparent and SEC compliant company. Additionally, we made considerable effort aligning ourselves with both domestic and international strategic business partners to assist us with specific areas of expertise. And finally, we initiated several acquisitions from among the multiple dozens of outstanding US and international projects brought to us for consideration.
During second quarter 2011, we entered due diligence phases on several projects and began aggressively pursuing financing for the select and diverse projects we initially targeted.
We are delighted that our full-court press is already paying off with the recently announced signing with Kodiak Capital Group LLC for $2 Million US dollars to support the manufacturing of our exclusive portable Biomass Waste-2-Energy Systems developed by JV engineering partner, Helios Inc. of India. We anticipate completing the steps necessary to file this S-1 with the SEC within the next few weeks.
Just as important to securing financing for the Biomass production was the recent announcement that Helios Inc. engineers adapted our Biomass System to now process nearly all types of waste. This revolutionary design modification is expected to increase Company revenues exponentially by allowing a broad range of industries, beyond municipal landfills, to use our portable systems to manage their waste materials and generate clean, affordable electricity at the same time.
Three additional Bulgarian projects currently under contract -- the Grand Hotel Dimyat, the White Lagoon Resort Development and the 60 MW Solar Park -- and the progressive Senior Community in China are still under review and consideration by several large-scale financing institutions. The Company will provide updates on any major developments with these projects as soon as they occur.
While the Company has focused its initial acquisitions largely in southeastern Europe, we continue to review potential acquisition in other parts of Europe, Asia and the United States. On behalf of the Board of Directors, we look forward to announcing new projects and exciting developments with current acquisitions as soon as possible.
President & CEO
About TransGlobal Assets, Inc.: TransGlobal Assets, Inc. is a rapidly evolving global holding corporation strategically poised to build a multi-billion dollar asset base within diverse industries around the world. The Company's initial emphasis is on Renewable Energy Ventures, Resort and Hospitality Properties, Senior-Related Services, Commercial Real Estate, select Manufacturing, and beyond. To learn more about TransGlobal Assets, Inc., please visit: http://www.tmshglobal.com/
Safe Harbor Statement
This news release contains "forward-looking statements" as that term is defined in Section 21E of the Securities Exchange Act of 1934. Statements in this press release that are not purely historical are forward-looking statements. Forward-looking statements involve known and unknown risks, and other factors that may cause actual results or achievements to differ materially from the anticipated results or achievements expressed or implied by such forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.