3Power Energy Group Inc (PSPW)

[dukelasilvertbird]

The date is 4/05/11, not 4/15/11 UK tax date is different from US.

On January 24, 2011, Prime Sun Power Inc. (the “Company”) entered into a Term Sheet with Seawind International Ltd., (“Seawind”), (the Company together with Seawind, the “Parties”). The Parties initially targeted to close the acquisition of Seawind by the Company on February 25, 2011, however the Parties have agreed to allow the transaction the necessary time to comply with the statutory and regulatory requirements of their respective jurisdictions in a more economic and efficient manner. The Parties have therefore mutually agreed to defer the closing of the acquisition until after completion of the UK Tax year end of APRIL 5th, 2011. On this basis, the Parties are working upon a revised timeline for closing to be announced very shortly.