LAS VEGAS, Aug. 27, 2010 (GLOBE NEWSWIRE) -- Salamon Group, Inc. (OTCBB:SLMU) ("Salamon Group" or the "Company") is pleased to announce that it has entered into negotiations to acquire a majority interest in an advanced solar technology engineering, sales and installation company based in Illinois, USA.
The targeted acquisition is a privately owned and operated company focused on development, sale, installation, and maintenance of advanced solar energy generation projects for both commercial and residential applications.
"The immediate addition of an operating solar business would be a significant step forward for our ongoing diversified alternative energy strategy," said John E. Salamon, President of Salamon Group. "We look forward to participating in all of the exciting solar sector developments and opportunities that lie ahead."
Further information detailing progress of the proposed acquisition will be released as it becomes available.
About Salamon Group, Inc.
Salamon Group, Inc. is a publicly traded company (OTCBB:SLMU) focused on developments in conventional and alternative energy technologies, including opportunities in oil and gas, geothermal, wind, and solar. The Company is committed to creating value for its shareholders by advancing its current businesses to profitability, while developing new opportunities internally and through joint-venture, and by acquiring technology rights or ownership with potential to increase their value in the marketplace.
On behalf of the board of directors of Salamon Group, Inc.
John E. Salamon, President
Certain statements in this press release are forward-looking and involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Salamon Group, Inc. bases these forward-looking statements on current expectations and projections about future events, based on information currently available. The forward-looking statements contained in this press release may also include statements relating to Salamon Group, Inc.'s anticipated financial performance, business prospects, new developments, strategies and similar matters. Salamon Group, Inc. disclaims any obligation to update any of its forward-looking statements, except as may be required by law.
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