Salamon (OTCQB: SLMU) Announces Agreement to Acquire Solar Samoa Ltd.
Solar Samoa Ltd. has the rights to supply approximately 4% of the daily electrical needs of Samoa The 20 year financial outlook of the first Samoa project exceeding $70MM gross with potential net cash flow of $18MM
(firmenpresse) - LAS VEGAS, NEVADA -- (Marketwire) -- 04/30/12 -- SALAMON GROUP, INC. (OTCQB: SLMU), a leading edge green energy company, is pleased to announce that it has agreed to expand its ownership of Solar Samoa Ltd. by purchasing the balance of Solar Samoa Ltd., a Samoa-based solar energy company that possesses a pipeline of solar projects that Eco Energy and its partners have been developing. The first Solar Samoa Ltd. project is a 4.5MW project and is expected to generate total first year revenues of approximately $2.5 million US dollars. The 20 year outlook for the first Solar Samoa Ltd. system is approximate gross revenues of $70MM and net cashflow estimated at $18MM over its life.
"The signing of this agreement is another step forward in the Company's strategy to expand and become a global player in the solar power industry," said Michael Matvieshen, CEO. "We are very excited to have the opportunity to acquire the balance of this company in Samoa and to provide reliable, cost efficient and clean renewable energy to its citizens of Samoa, as we continue to establish ourselves as a global solar energy provider. These solar installations will be designed, built and managed by Sunlogics Power Fund."
Mr. Bingle, the newly appointed President, noted, "The opportunity for Solar in Samoa enhances the company profile in the global solar market place. The Samoa opportunity allows Salamon Group, Inc. to draw on our world class solar experts that we have brought under our umbrella with the acquisitions of Arise Technologies, ECO Energy Solutions, as well as our strategic relationship with China Triumph."
About SALAMON GROUP, Inc.
Salamon Group, Inc., through its Sunlogics Power Fund Management Inc. division, is a solar energy project company specializing in the construction management and acquisition of renewable energy power projects. Sunlogics Power also looks to acquire assets and other companies in the solar and renewable energy space that are a strategic fit. Sunlogics Power is also a project-acquiring partner of Sunlogics Plc. () and its Subsidiary as well as other third party project developers. http://www.sunlogicspowerfund.com/
SLMU cautions that statements made in press releases constitute forward-looking statements, and makes no guarantees of future performances and actual results/developments may differ materially from projections in forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the time statements are made.
To be included in up to date notifications of company activities:
Contacts:
Orsay Groupe, Inc.
William J. Nalley
305-515-8077
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Datum: 30.04.2012 - 06:25 Uhr
Sprache: Deutsch
News-ID 1108445
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