Cambridge Energy Corporation Issues Stock Dividend Distribution Notice.Business Editors/Energy Writers LAFAYETTE, La.--(BUSINESS WIRE)--May 1, 2002 Cambridge Energy, Inc., ("Cambridge") (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CNGG) announced today the completion of a Stock Swap Agreement with Cambridge Power Corporation, Inc., ("CPC (1) (Central Processing Complex) An IBM mainframe that has two or more central processors (CPs) that share memory. It is the collection of processors, memory and I/O subsystems manufactured with a single serial number, typically all contained in one cabinet. ") and North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. Geo Power Inc., ("NGP NGP Neo-Geo Pocket (SNK) NGP Nearest Grid Point NGP New Growth Point (UK) NGP National Grid Project NGP Next-Generation Program (fire suppression) NGP Next Generation Product "). Pursuant to its Notice of Dividend filed with NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on Market Operations effective May 1, 2002, Cambridge (http://www.cambridgeenergy.com) is issuing to qualified shareholders of Cambridge Energy, one share of North American Geo Power, Inc. (NGP) common stock for each 15 shares of Cambridge Energy (CNGG) stock owned. Cambridge stockholders will retain approximately a 15% equity interest in NGP. With the completion of the Agreement, Cambridge will be issuing to qualified shareholders of Cambridge, a stock dividend of one (1) share (of the surviving entity, NGP), common stock for each fifteen (15) shares of Cambridge stock owned. This notice also includes information that sets the date of record for determining holders of record for this dividend as of June 15, 2002. NGP (http://www.nageopower.com) is specifically organized to acquire, develop, own, expand and operate geothermal power plants in the Western United States Noun 1. western United States - the region of the United States lying to the west of the Mississippi River West Santa Fe Trail - a trail that extends from Missouri to New Mexico; an important route for settlers moving west in the 19th century . Geothermal energy has the potential of providing vast quantities of additional renewable power to California and the Western states, helping to ease an electricity supply crunch that peaked in the summer of 2000. The founders of North American Geo Power are seasoned geothermal industry executives with the required expertise and professional standing to successfully acquire and operate existing and newly developed geothermal power plants. NGP will be seeking USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. $5 million in financing in order to implement the objectives of its Business Plan. NGP is targeting August 1, 2002 to file its Form 10 or SB2 with the SEC. Upon completion of this filing the NGP stock distribution will be registered and able to be traded on the NASDAQ OTCBB. It is projected that the SB2 filing will take approximately 60-90 days from date of filing. This strategic transaction will allow NGP to become a publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. . NGP will be filing the requisite forms, to cause NGP to become a reporting company and consequently be required to file audited financial reports with the Securities and Exchange Commission ("SEC"). All financial reporting will be available online for shareholder review. George Matus, Managing Director of Buyside Partners, (http://www.buysidepartners.com), commented, "This dividend distribution demonstrates Cambridge Energy's commitment to improving shareholder value and confidence in the company's future prospects." Forward looking Statements in this document that are not historical fact are "forward-looking statements" as that term is defined in the Private Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform of 1993. Forward-looking statements are not guarantees of future performance. Our forward-looking statements are based on trends that we anticipate in our industry and our good faith estimate of the effect on these trends of such factors as industry capacity, product demand, and product pricing. These statements are also subject to risks and uncertainties beyond our reasonable control that could cause our actual business and results of operations to differ materially from those reflected in our forward-looking statements. These risks are described in the Company's Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. filed with the SEC. |
|
Printer friendly
Cite/link
Email
Feedback
Reader Opinion