Solar Energy Initiatives Inc (SNRY)

[trader53]

SNRY - Acquisition of Controlling Interest

Novation Holdings NOHO
Announces Acquisition of Controlling Interest in SNRY

Novation Holdings
announced that it has acquired a controlling interest
in Solar Energy Initiatives, Inc.

The acquisition was in exchange for a combination of SNRY common stock and a convertible preferred stock with voting power equal to 51 percent of all voting stock of SNRY.

According to Michael Gelmon,
CEO of Novation Holdings,
"This acquisition will allow us to continue our acquisition plan to identify growing, profitable businesses which we can acquire and then transfer to existing public companies for a controlling interest."

Novation Consulting Services, Inc.,
the administrative subsidiary of NOHO,
also will provide in-house financial services, including accounting, bookkeeping, budget, financial statement preparation, preparation of SEC periodic filings, EDGAR filing conversion, XBLR filings, banking support and similar services, as well as "in-house" corporate counsel services, compensation management support, HR, IT support and other such services to both SNRY as well as to the restaurant group.


Michael J. Gelmon (CEO of NOHO)
is also the CEO of SNRY
A lighting company that is involved in the MJ industry .

Solar Energy Initiatives, Inc.
has secured seven contracts to provide Photovoltaic Systems for indoor/outdoor grow facilities for medical marijuana collectives located in California. The systems to be installed will help provide the necessary power to assist with sustaining the collectives' year round harvest.