Trans Global Group Inc (TGGI)

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TGGI~~ huge news out!! Trans Global Reduces Long Term Debt By 46%, Moves Closer To Closing Acquisitions


Jun 09, 2014

OTC Disclosure & News Service

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Trans Global Reduces Long Term Debt By 46%, Moves Closer To Closing Acquisitions

PR Newswire

CORAL SPRINGS, Fla., June 9, 2014

CORAL SPRINGS, Fla., June 9, 2014 /PRNewswire/ -- Trans Global Group, Inc. (PINKSHEETS: TGGI) has been working the past few months to reduce the amount of long term debt on the books dating back to 2009 through a combination of debt forgiveness, equity conversions, the sale of unused assets and corrections. TGGI has been able to reduce its debt from 819,568 to $438,073 a reduction of approximately 46% and has reduced the accrued interest from $145,700.87 to $62,960.21 or approximately 26% from the numbers posted in the March 31 financial report, subsequently TGGI has not added any new additional debt since the end of the first quarter.

TGGI is working to further reduce its debt which is needed to complete a series of acquisitions for both TGGI and its subsidiary.

There will be no new accrued interest until January 1, 2015 if there is any remaining debt left.

The Company has created a holding company called TGGI Holdings, LLC in the State of Florida in preparation of future acquisitions.

The Company has negotiated deals with several entities to be acquired for the parent company and the subsidiary in ranging business sectors from music and publishing, construction, environmental projects and LED lighting including grow lights.

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.

For additional information about this release please contact

Christopher J Clarke
[e-mail]
954-509-3749

SOURCE Trans Global Group, Inc.