PGI Energy, Inc. (PGIE)

[Inwestor1]

FYI NEWS.
HOUSTON, TX--(Marketwire -09/09/11)- PGI Energy, Inc. (Pinksheets: PGIE.PK - News)

PGI Energy announces it has entered into a letter of intent to acquire an electrical services company that serves the energy industry. The acquisition target has annual revenues of approx. $15 Million with significant growth opportunities. PGI plans to complete this acquisition within 30 days with institutional investor funding terms currently being negotiated. PGI will grow this division organically through servicing syn gas units, and wood pellets units under its renewable energy division PGI Green E & P. PGI will retain key management personnel and master electricians. The asset purchase will include a vast amount of equipment and fleet of utility work trucks. "We are excited to have negotiated such a favorable transaction for our shareholders to add value and increase profit margins," said Robert Gandy, Chief Investment Officer/Investment Banker.