LAS VEGAS, Sept. 7, 2010 (GLOBE NEWSWIRE) -- Salamon Group, Inc. (OTCBB:SLMU) ("Salamon Group" or the "Company") is pleased to announce that it has completed preliminary due diligence regarding the proposed acquisition of a privately-held advanced solar technology engineering, sales and installation company based in Illinois, USA.
The preliminary due diligence conducted by the Company was specifically designed to gain a greater understanding of the target company technology, operations, management, and growth prospects.
"The positive conclusion of our preliminary due diligence gives us an extra boost of confidence to proceed with the next stages of the acquisition process," said John E. Salamon, President of Salamon Group. "The additional intelligence obtained from our preliminary work will be extremely valuable to us as we quickly move towards the completion of a letter of intent in the coming days."
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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