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Sunlogics Power Fund as Subsidiary of Salamon Group, Inc. (SLMU) Initiates First Phase of Its Rooftop Solar Projects in Williamson County, Tennessee
LAS VEGAS, NEVADA -- (MARKETWIRE) -- 04/19/12 --
SALAMON GROUP, INC. (OTCQB:SLMU) and General Motors Company (NYSE:GM) -
Salamon Group, Inc. stated Thursday that it has initiated the first phase of its roof top solar installation in Williamson County Tennessee . These projects have total combined revenues of $3.3M over the life of the contract, and yields a levered IRR of approximately 25% for the company. The first phase consists of three installations, the first of three installations have now received final TVA-NES approval these project are expected to be completed by May 28 2012. Each Solar system in the first phase has an output of 200KW, totaling 600KW. The Company plans to continue building out the remaining 20 rooftops later this spring.
CEO Michael Matvieshen stated, "We have now started pulling construction permits for Brentwood MS, Brentwood HS , Edmondson ES in Williamson County Tennessee . I am pleased that these project's have now been initiated and have received their approvals to get underway. Building solar power systems on these types of public sector rooftops is one of the Company's Key strategic solar verticals."
About SALAMON GROUP
Salamon Group, Inc. , through its Sunlogics Power Fund Management Inc. division, is a solar energy project company specializing in the construction, management and acquisition of renewable energy power projects. Sunlogics Power also looks to acquire assets and other companies in the solar and renewable energy space that are a strategic fit. Sunlogics Power is also a project- acquiring partner of Sunlogics Plc and its Subsidiary as well as other third party project developers.
http://www.sunlogicspowerfund.com/
Sunlogics PLC majority partner and shareholder is General Motors Company ( NYSE:GM). Sunlogics Power Fund Controls 30% of Sunlogics PLC . http:// www.sunlogics.com.
SLMU cautions that statements made in press releases constitute forward- looking statements, and makes no guarantees of future performances and actual results/developments may differ materially from projections in forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the time statements are made.
Contacts: The Orsay Groupe, Inc. William J. Nalley 305-515-8077 info@ orsaygroupe.com www.orsaygroupe.co

(END) Dow Jones Newswires
04-19-12 0830ET