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TGI Solar Signs Letter of Intent to Acquire GreenRG Management
RED BANK, NJ - 5/25/10 - TGI Solar Power Group (TSPG), provider of solar and other clean technology products and solutions, announced today that it signed a Letter to Intent to acquire GreenRG Management.
Terms of the agreement shall be subject to the execution of a definitive merger agreement and related documents and satisfactory completion of due diligence. The two companies are currently working on PPA agreements. "We were very impressed with Green RG’s backlog of contracts, personnel and technically advanced product line,” said Henry Val, CEO of TGI Solar. "We believe that TGI’s on-going business opportunities and access to public markets allows GreenRG to achieve quickly achieve long-term goals,” said Alfred Heyer, Managing Partner of GreenRG Management. About GREENRG MANAGEMENT. GreenRG Management is a New Jersey based company, specializing in dimmable LED lighting, solar installations, daylight harvesting and radiant barriers using window film insulation. About TGI SOLAR POWER GROUP INC. TGI Solar (TSPG) (www.tgisolar.com) is a provider of solar and other alternative energy products and solutions. The firm provides facility and process design and integration know-how with its equipment. The Company offers its products and services to clients on a worldwide basis and currently maintains JVs in Hong Kong and subsidiary in Italy with solar installation, integration and energy consulting firms. Safe Harbor Statements under the Private Securities Litigation Reform Act of 1965: Those statements contained herein which are not historical are forward-looking statements, and as such, are subject to risks and uncertainties that could cause actual operating results to materially differ from those contained in the forward-looking statements. Such statements include, but are not limited to, certain delays that are beyond the company's control, with respect to market acceptance of new technologies, or product delays in the testing and evaluation of products, and other risks, as detailed in the company's periodic filings with the Securities and Exchange Commission. |
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