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CNUV debt restructuring in Preparation of Freya Acquisition

China Nuvo Solar Energy (OTCBB: CNUV) Begins Debt Restructuring
Posted on January 10, 2011 by PennyStockHaven
China Nuvo Solar Energy, Inc. (OTCBB: CNUV) announced today that it has begun a restructuring of its debt. At this time, over $500,000 of debt has been converted to common equity. The Company is taking this action to de-leverage the balance sheet in preparation to pursue other business opportunities.

The Company is presently reviewing several potential new business opportunities and is in preliminary discussions, however no agreements have been reached.

http://pennystockhaven.com/active-penny-stocks/china-nuvo-solar-energy-otcbb-cnuv-begins-debt-restructuring/

China Nuvo Solar Provides Update on Debt Restructuring
China Nuvo Solar Engy (QB) (USOTC:CNUV)
Historical Stock Chart
2 Months : April 2011 to June 2011


China Nuvo Solar Energy, Inc. (OTCQB: CNUV) updated today its progress in its various debt restructuring initiatives. To date, approximately $1 million worth of debt has been eliminated through the conversion of debt to equity comprising both common and preferred stock as well as the divestiture of a non-operating subsidiary, which is expected to close in the very near term.

"This balance sheet de-leveraging is an integral step in preparing China Nuvo for our overall roll-up strategy," said China Nuvo Solar President, Henry Fong.

About China Nuvo Solar Energy

China Nuvo Solar Energy, Inc. is a development stage company that owns unique patent pending solar and photovoltaic related technology. The Company's business model includes a roll-up strategy of clean energy companies and intellectual property within the renewable energy sector.

This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on the Company's current expectations as to future events. However, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.

http://ih.advfn.com/p.php?pid=nmona&article=47470639

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