LAS VEGAS, Oct. 29, 2010 (GLOBE NEWSWIRE) -- Salamon Group Inc. (OTCBB:SLMU), a leading designer of next generation energy products and systems, wishes to bring our shareholders up to date on our recent activities concerning Casing Pal (see news announcement from July 9, 2010), the advanced solar technology, sales and installation company based in Illinois, USA (see news announcements from August 27, 2010 and Sept. 7, 2010), LiveCall Investors Relation firm (see news announcement from Oct. 14, 2010) and Sheppard Holdings, LLC. (see 8-K Filing of Sept. 29, 2010).
The discussions are continuing with Casing Pal and the advanced solar technology firm based in Illinois, USA. We have identified some areas in each company that do not fully satisfy our requirements. However, Salamon Group is prepared to continue negotiations when these areas have been addressed, although, there is no set time frame for completing a deal with either of these companies.
For further clarification, subsequent to the news announcement and 8-K Filing of Oct 14, 2010 the contract with LiveCall Investor Relations ("LiveCall IR") was terminated due to misunderstandings on the direction Salamon Group wishes to go and the activities showing how we expect to get there. A common business phrase would be that 'we weren't on the same page'.
With respect to acquiring Sheppard Holdings, LLC and pursuant to the due diligence process, the Letter of Intent, signed September 21, 2010, to purchase Sheppard Holdings, LLC has been rescinded. Salamon Group does not feel the present setup is right for the acquisition to go forward.
Salamon Group, Inc., is presently in negotiations with Investor Relations firms.
About Salamon Group, Inc.
Salamon Group is a development stage company whose aim is to develop, license and/or acquire and develop technologies and concepts in the field of "Alternative Energy Sources". For more information please visit us at www.salamongroup.com.
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements. Actual results may differ materially from those described in forward-looking statements and are subject to risks and uncertainties. See Salamon Group, Inc.'s filings with the Securities and Exchange Commission which identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.
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