SOURCE: NexGen Holdings Corp.

NexGen Holdings Corp.

January 14, 2014 09:30 ET

WindPower Innovations Is Now NexGen Holdings Corp

QUEEN CREEK, AZ--(Marketwired - Jan 14, 2014) - WindPower Innovations, Inc. (PINKSHEETS: WPNV) announced today that it had changed its name to NexGen Holdings Corp and that FINRA had granted NexGen Holdings the new trading symbol "XGEN" (PINKSHEETS: XGEN) and the Company began to trade under the new symbol on January 10, 2014.

John Myers, CEO of NexGen Holdings, Inc., commented," As our Company has grown outside the wind power or renewable energy portion of our business and is developing into a true holding company, we needed a name that identified with our business plan."

Charles Brown, non-executive director of Company, said, " The Board wanted a name that could be branded across a broad range of industries, and yet be one that would identify with our renewable energy roots and consumers would acknowledge as a company that uses 21st century technology to bring top quality products and services to market. I think be achieved that with NexGen Holdings, Inc."

Steven Vollaro, President of our Cameo Division, said, "Our new name is brand-able across all of the industries we are in. Our Logo is clean, contemporary and crisp. We can use the same logo with a different name for the specific division and slightly different colors and yet have all the logos quickly identifiable as part of NexGen Holdings, Inc."

The Company also announced that GearStar had received an unsolicited offer from a major parts supplier and the Board has elected not to enter in to a bidding war for GearStar having determined that it is not in the best interest of shareholder value to pay a higher price than originally offered. The Company will re-visit this potential acquisition in the event that the unsolicited offer falls through. The Company is pursuing other potential acquisitions that the Board believes may represent better value to our shareholders.

John Myers added, "With our Company's growth and the many better opportunities and acquisitions available to us it makes sense not to get into a bidding war for GearStar. Our current share structure and earnings per share afford us the ability to continue to grow through acquisitions."

The Company intends to create a new website utilizing the NexGen Holdings name that will be user friendly for shareholders and prospective investors to get current information about the Company, its subsidiaries and products.

CERTIFICATE HOLDING SHAREHOLDERS ARE ADVISED:
THERE IS NO NEED TO EXCHANGE YOUR WINDPOWER INNOVATIONS, INC. CERTIFICATES FOR THE NEW NEXGEN HOLDINGS, INC CERTIFICATES AS THE TRANSFER AGENT WILL RECOGNIZE BOTH.

However, if you would like a new certificate, our transfer agent Western States Stock Transfer will exchange your WindPower Innovations, Inc stock certificates for a certificate(s) with the new NexGen Holdings, Inc. name for a fee of $35.00. You can find information about our transfer agent on our website at www.wpienergy.com.

About NexGen Holdings, Inc.

NexGen Holdings, Inc. is a public holding company that is an acquirer and operator of fundamentally sound subsidiaries that are market accepted, scalable and demonstrate a quantifiable value proposition. To enhance shareholder value our focus is on establishing a foot print in a specific industry through the acquisition of a subsidiary that has strong market presence, brand awareness, talented and dedicated management teams with the potential to achieve exceptional performance over time. Once acquired these companies can expand through additional acquisitions, aggressive marketing and access to our operational support, management approach, and ability to access financial markets for operational and growth capital to build a market leader. NexGen Holdings, Inc. has currently has two subsidiaries: WindPower Solutions, Inc. which repairs and remanufactures wind power turbines and solar power plants for operators across the U.S., and R.I.G. Construction, Inc., which under the Cameo brand name, (Cameo Pools, Cameo Landscaping and Cameo Solar) builds and renovates swimming pools and markets outdoor products to consumers in the Phoenix, Arizona Metropolitan Area. -- For more information go to our websites at: www.wpienergy.com, www.cameopools.com

Forward-Looking Statements Disclaimer:

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including those regarding NexGen Holdings, Inc. expectations, intentions, strategies and beliefs pertaining to future events or future financial performance. All statements contained herein are based upon current information available to NexGen Holdings, Inc.'s management as of this date. The business and operations of the Company are subject to substantial risks which increase the uncertainty that forward-looking results will be achieved and actual events or results may vary materially as a result of various important factors including those which management has little or no control. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements.

Contact Information

  • Investor Relations Information:
    Contact:
    Tom Nelson
    Ten Associates LLC
    Phone Number: 480-326-8577