HENDERSON, Nev., March 10, 2011 (GLOBE NEWSWIRE) -- Qualibou Energy Inc. (Pink Sheets:QALB) announces the appointment of Cindy Shy, P.C. as legal counsel to Qualibou in all matters related to SEC disclosure and filings as it moves to become a fully reporting issuer.
"We are pleased with the appointment, one of the final steps to becoming a fully reporting company," stated Stephen Baker, President of Qualibou Energy Inc.
In addition, the company reports it has recently closed a private placement, from which proceeds will be used to fund general working capital requirements including completion of audited financials and filing of the forthcoming re-registration statement with the SEC.
Baker continued, "The appointment of legal counsel and funding are important, ensuring the registration statement is filed and the company is able to complete its plan to becoming a reporting issuer."
Qualibou Energy Inc. is an emerging, renewable energy entity with a growth strategy emphasizing development of non-polluting, sustainable geothermal resources. The company's first geothermal concession is located in St. Lucia and has a development potential of 120 MW.
On behalf of the Board of Directors
'Stephen Baker'
President
Qualibou Energy Inc.
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Safe Harbor: Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, technology efficacy and all other forward-looking statements be subject to the safe harbors created thereby. The Company is a development stage company who continues to be dependent upon outside capital to sustain its existence. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.
CONTACT: Investor Contact: Qualibou Energy, Inc Investor Relations (702) 990-1984