NEWS : W2 Energy Inc. to Cancel 2,400,000 Shares
NEW YORK, NY, May 23, 2007 (MARKET WIRE via COMTEX) -- W2 Energy Inc. (PINKSHEETS: WWEN) (FRANKFURT: WJD), a producer of Green Energy, is pleased to announce it will cancel 2,400,000 shares of its common stock. The stock was issued in anticipation of the execution of a consulting agreement which the company decided not to pursue.
The company is presently looking into a number of shares on the registered shareholders list that were issued under World Wise Technologies that were issued in anticipation of closings and never consummated.
The company estimates there are another 5 million shares that will be canceled in the coming months.
About W2 Energy Inc.
W2 Energy Inc. is a growing, publicly traded company on the OTC (PINKSHEETS: WWEN) and FRANKFURT (FRANKFURT: WJD) that develops renewable energy technologies and applies it to new generation electrical power systems. Specifically, W2 Energy Inc. produces Green Power utilizing its core-patented technologies to produce green power generating and clean transportation fuel plants utilizing biomass and GTL technologies. W2 Energy Inc. has seasoned management and cutting edge technology. W2 Energy Inc. owns a large technology portfolio of patents and know-how that has been extensively validated and ready for commercial production.
Safe Harbor for Forward-Looking Statements: Except for historical information contained herein, statements are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in the future periods to differ materially from forecasted projections. These risks and uncertainties include, among other things, energy market volatility, product demand, market competition, and risk inherent to the company's research and development operations.
For further information, please contact: W2 Energy Inc. info@w2energy.com www.w2energy.com
SOURCE: W2 Energy Inc.
