TGGI---NEWS
Trans Global Group Upgraded to Current Status Completing First Acquisition Within Days
STUART, Fla., Jan. 4, 2012 /PRNewswire/ -- Trans Global Group, Inc. (PinkSheets: TGGI) is pleased to announce the Company has been upgraded to Current Information status on www.Otcmarkets.com completing a necessary step needed to complete two pending reverse mergers.
While the Company worked to get upgraded it learned of assets the previous management acquired that are no longer needed, such as a shell company. The Company is selling the shell to Baron Capital Enterprise, Inc which will reduce the liabilities of the Company by $100,000.
When the two acquisitions are completed, TGGI will have three operating subsidiaries: FederaLED, an energy saving company for commercial and residential use, and a waste remediation company. All three subsidiaries have cross integration and will support each other.
The energy saving company is discussing other product opportunities to add to its product mix that will allow it to own the patents for the products, which are all synergistic and can be financed through its finance company.
Please follow Otcmarkets for all updates on the Company as we will issue news as the events unfold over the coming days.
The foregoing press announcement contains forward-looking statements that can be identified by such terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. In particular, management's expectations could be affected by, among other things, uncertainties relating to our success in completing acquisitions, financing our operations, entering into strategic partnerships, engaging management and other matters disclosed by us in our public filings from time to time. Forward-looking statements speak only as to the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
CONTACT:
Gene Caiazzo, President, at 386-314-0847
SOURCE Trans Global Group, Inc.
Timestamp:
January 04, 2012 09:15:18 EST
