SNM Global Holdings Completes Sale of LGN Entertainment Group and Announces New Operations and Expanded Business
14 Maio 2010 - 2:51PM
Marketwired
SNM Global Holdings (PINKSHEETS: SNMN) announced the completion of
the sale of their subsidiary, LGN Entertainment Distribution. The
transaction represents a substantial opportunity for the company to
not only eliminate significant long-term debt, but also add new
assets and operations.
Steve Lane, current President and CEO, has resigned as President
and from the Board of Directors and a new Board and Executive Team
will soon be announced alongside the commencement of the Company's
new 2010 Enhanced Business Plan.
As part of the Company's new operations and expanded business
plans for 2010, Mr. Rick Papaleo has sold his controlling interest
of the Company to the incoming operational business unit.
"It has been a pleasure serving you as President and Chairman,
but with lack of capital and a very tough economic environment, I
believe that this is the best move. LGN will continue to operate as
a private company and I believe that the new management appointed
is the best suited to turn around the current company situation,"
stated Steve Lane, former President of SNM Global Holdings.
SNM Global Holdings will focus its operations and business to
provide international emerging markets with alternative energy, and
decentralized power production technologies. The company will also
provide biotech and healthcare related assets and technology to
these markets. The company believes its new and enhanced
operational plan will provide significant revenue, equity growth,
and serve the betterment of emerging economies.
The company anticipates numerous technology and operational
acquisitions and is planning an aggressive media campaign.
The Company will soon announce additional details alongside full
operational and financial disclosures.
Shareholders will retain their current ownership. No
recapitalization or reverse-split of any kind will occur as part of
the Company's new operations. No new stock is being issued as part
of the transaction. The control block of stock in the company was
purchased in a private transaction.
About SNM Global
SNM Global Holdings is a business development company that
invests in and develops assets and operations in the Alternative
Energy and biotech/healthcare industries targeted toward merging
marketplaces. The company operates through its subsidiaries and
various distribution partners worldwide.
Safe Harbor
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995: The statements contained in this release that
are not historical are forward-looking statements that are subject
to risks and uncertainties that could cause results to differ
materially from those expressed in the forward-looking statements,
including but not limited to certain delays and risks detailed from
time to time in the company filings with the Securities and
Exchange Commission.
CONTACT: SNM Global Holdings 3936 South Semoran Blvd. Suite 413
Orlando, Fl 32822 SNMGlobalholdings@gmail.com
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