Consolidated Energy is Please to Announce That It Has Entered into an Agreement to Purchase a Waste Processing Facility in England.MIAMI Miami, cities, United States Miami (mīăm`ē, –ə). 1 City (1990 pop. 358,548), seat of Dade co., SE Fla., on Biscayne Bay at the mouth of the Miami River; inc. 1896. -- Consolidated Energy & Technology Group, Inc. (Nasdaq OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : CGGE) is pleased to announce that its subsidiary, TecEnergy Enterprises Limited has recently entered into an agreement to purchase a waste processing facility in England. Closing of the acquisition is subject to the terms of a formal "asset purchase and sale agreement" which is currently being prepared by the seller's solicitors. It is anticipated that this contract will be completed within a number of days and a closing date will be confirmed at that time. A price of GBP GBP In currencies, this is the abbreviation for the British Pound. 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. 2.5M GBP (Approximately US$4.5M) has been agreed to purchase the assets which include land and buildings, waste/skip collection vehicles and waste processing equipment. The facility which comprises of approximately 15 acres and is fully licensed and in operation has the capability to process a number of different waste streams and TecEnergy anticipates spending approximately GBP 1.5M (Approximately US$2.7M) on installing and utilizing new waste processing technology to increase and improve current revenue and profits on the site. Ownership of this facility will provide a revenue stream from the "disposal costs" associated with the disposal of waste materials and provide a further revenue stream from the sale of recycled products which can be extracted from this waste material. TecEnergy intends to implement technology and equipment that will substantially increase the % of recycled materials recovered from waste materials and thereby reduce the volume of waste materials that ends up in landfill Consolidated Energy is a holding company in the business of acquiring and developing proven technologies which seek to provide sought-after solutions to current environmental problems in our modern world, with special emphasis on alternative energy, waste management and land remediation. Consolidated Energy will provide turnkey See turnkey system. solutions in the waste sector and at the same time use these resources to provide alternative energy and other products. Further information about Consolidated Energy can be found at www.cetg-inc.com NOTE: Statements made by Consolidated Energy & Technology Group, Inc. that are not purely historical are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such statements involve a variety of risks and uncertainties, including, without limitation, statements with respect to the Company's strategy and prospects. These statements are made based upon information available to the Company at the time, and the Company assumes no obligation to update forward-looking statements. Readers and investors are cautioned that the Company's actual results may differ materially from those described in the forward-looking statements due to a number of factors including, but not limited to, (1) demand for the Company's products and services; (2) the Company's ability to develop and launch its markets; (3) changes in the current and future business environment, including interest rates and capital and consumer spending Consumer demand or consumption is also known as personal consumption expenditure. It is the largest part of aggregate demand or effective demand at the macroeconomic level. ; (4) the impact of competitive products and pricing; (5) reliance on key strategic alliances; (6) the availability of funding and skilled personnel; (7) the regulatory environment; (8) risks associated with start-up Start-up The earliest stage of a new business venture. businesses; and (9) the impact of yet unknown competitors, technological obsolescence ob·so·les·cent adj. 1. Being in the process of passing out of use or usefulness; becoming obsolete. 2. Biology Gradually disappearing; imperfectly or only slightly developed. , problems with technology, problems with shipment, inadequate supplies and business opportunities. |
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