From early Dec,,,merger should be closing by Dec 31,,,,
Clean Energy Signs LOI With PanPacific Business Limited Dec 4, 2007 10:06:00 AM WEST PALM BEACH, FL -- (MARKET WIRE) -- 12/04/07 -- Clean Energy Combustion Systems, Inc. (PINKSHEETS: CECU) is pleased to announce that it has entered into a non-binding letter of intent (LOI) to acquire all of the issued shares of PanPacific Business Limited, a Hong Kong-based private company actively involved in the premium advertising and printing sectors in the Chinese and Hong Kong markets.
As reflected in the LOI, Clean Energy intends to purchase 100% of the issued shares of PanPacific and the consideration to be offered will be common shares of Clean Energy. Effectively, the proposed transaction will result in a reverse-takeover whereby the shareholders of PanPacific will become the Company's controlling shareholder group. The effective date of the transaction will be December 31, 2007 and the closing will take place after all of the conditions to the proposed transaction have been satisfied.
The proposed merger will be subject to a number of conditions including satisfactory due diligence by both parties; satisfactory review of the financial statements of both companies; satisfactory review of the Definitive Purchase Agreement; and, the required regulatory, shareholder and Board approvals.
The President & CEO of Clean Energy, Robert Rudman, stated: "During the past several months, we have conducted a thorough review of the renewable energy sector in China in order to determine the viability of our Company continuing its activities in this marketplace. Due to a number of factors including increased competition from new technologies and due to our inability to arrange the necessary capital to fund our expansion into the Chinese renewable energy sector, the decision was made to cease our activities in this industry and to pursue more attractive business opportunities."
Rudman continued, "We were later introduced to the principals of PanPacific and we became extremely excited at the prospect of participating in the expansion plans of their company. While they are seeking access to the U.S. capital markets through a merger with an existing U.S. public company, we are seeking to increase our shareholder value by entering a high growth business sector. PanPacific's rapidly expanding involvement in the advertising markets of China and Hong Kong offers that opportunity to our shareholders."
About PanPacific
PanPacific Business Limited is a privately held, Hong Kong company actively involved in the premium advertising and printing sectors in the China and Hong Kong markets. The company is pursuing an aggressive expansion plan that will position PanPacific as a leader in this industry. For further information, visit: www.yespanpacific.com.
Clean Energy Combustion Systems, Inc. (PINKSHEETS: CECU) has been an early stage utility energy company that has offered economically and commercially sound green energy power solutions with initial focus on China. Most recently, the Company has terminated its activities in the renewable energy sector and it has been seeking more attractive business opportunities in China that offer a greater potential for increased shareholders value
-------------------- Men lie......Women lie........numbers don't.........
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PanPacific Business Limited is a privately held, Hong Kong company actively involved in the premium advertising and printing sectors in the China and Hong Kong markets. The company is pursuing an aggressive expansion plan that will position PanPacific as a leader in this industry. For further information, visit: www.yespanpacific.com.
posted
Thought this news was decent. bought a few at 065 and 07
Clean Energy Moves to Close Merger Tuesday February 5, 9:05 am ET
WEST PALM BEACH, FL--(MARKET WIRE)--Feb 5, 2008 -- Clean Energy Combustion Systems, Inc. (Other OTC:CECU.PK - News) is pleased to announce that it is continuing to pursue the merger with PanPacific Business Limited of Hong Kong as discussed in the news release Dec. 04, 2007. PanPacific is a Hong Kong-based private company actively involved in the premium advertising and printing sectors in the Chinese and Hong Kong markets. To that extent both CECU and PanPacific Business Limited are in the process of retaining professionals to effect the merger.
ADVERTISEMENT The proposed merger will be subject to a number of conditions including satisfactory due diligence by both parties; satisfactory review of the financial statements of both companies; satisfactory review of the Definitive Purchase Agreement; satisfactory review of valuation and the required regulatory, shareholder and Board approvals.
John Thuot, Director of Clean Energy, stated, "We are extremely excited about closing this merger and taking advantage of the opportunities that this merger represents, and we are in our final phase of due diligence. We anticipate that all conditions will be satisfied and the merger closed soon. We are of the belief that our corporate objective -- To secure exciting business opportunities in China -- will be accomplished through the merger with PanPacific Business Limited."
About PanPacific
PanPacific Business Limited is a privately held company based in Hong Kong and is actively involved in the premium advertising and printing sectors in the China and Hong Kong markets. The company is pursuing an aggressive expansion plan that will position PanPacific as a leader in this industry. Most recently PanPacific Business Limited opened an exciting new division engaged in the promotion of major world acts to be staged at venues throughout China, Macau and Hong Kong. For further information, visit: www.yespanpacific.com.
About Clean Energy Combustion Systems, Inc.
Clean Energy Combustion Systems, Inc. (Other OTC:CECU.PK - News) has been seeking more attractive business opportunities in China that offer a greater potential for increased shareholders value. For further information, visit: www.clean-energy.com.
Forward-Looking Statements: Clean Energy's development plans and the prospective potential as described in this news release constitute "forward-looking statements" within the meaning of the United States federal securities laws that involve risks and uncertainties. Actual results may vary substantially from expectations as a result of a variety of factors including, by way of example and not limitation, Clean Energy's financial requirements and current lack of capital; Clean Energy's inability to satisfactorily complete the proposed merger transaction; changes in Clean Energy's business plan and corporate strategies; and the various risks and uncertainties disclosed by Clean Energy in its reports filed with the SEC. Readers are urged to carefully review and consider the various disclosures made by Clean Energy in its reports filed from time-to-time with the SEC that attempt to advise interested parties of the risks and uncertainties that may affect Clean Energy's business and an investment in its securities.
Contact:
Contact:
D.P. Martin & Associates Inc. Investor Relations for Clean Energy Combustion Systems, Inc. Ph: 561-514-0194 Email Contact
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posted
PanPacific Signs Wolfman Jack Entertainment (Hong Kong) Ltd. to Advertise for Concert Venues Tuesday February 12, 10:00 am ET
1st Event: Placido Domingo Mar.01/08
WEST PALM BEACH, FL--(MARKET WIRE)--Feb 12, 2008 -- Clean Energy Combustion Systems, Inc. (Other OTC:CECU.PK - News) is pleased to announce that PanPacific Business Limited of Hong Kong has just signed a deal with Wolfman Jack Entertainment (Hong Kong) LTD. Clean Energy and PanPacific are continuing to work towards a merger and hope to complete this soon.
ADVERTISEMENT PanPacific Business Limited is pleased to announce that it has entered into an arrangement with Wolfman Jack Entertainment (Hong Kong) Ltd. to provide advertising platforms for concerts throughout Southeast Asia. The first concert will be held in Hong Kong on March 1st, 2008 featuring Placido Domingo.
John Thout, Director of Clean Energy, stated, "We are extremely excited about the relationship between Wolfman Jack Entertainment (Hong Kong) Ltd. and PanPacific Business Limited. We feel that the steady growth of the PanPacific Business Limited advertising platform will eventually provide great benefit to CECU shareholders."
About PanPacific
PanPacific Business Limited is a privately held company based in Hong Kong and is actively involved in the premium advertising and printing sectors in the China and Hong Kong markets. The company is pursuing an aggressive expansion plan that will position PanPacific as a leader in this industry. Most recently PanPacific Business Limited opened an exciting new division engaged in the promotion of major world acts to be staged at venues throughout China, Macau and Hong Kong. For further information, visit: www.yespanpacific.com.
About Clean Energy Combustion Systems, Inc.
Clean Energy Combustion Systems, Inc. (Other OTC:CECU.PK - News) has been seeking more attractive business opportunities in China that offer a greater potential for increased shareholders value. For further information, visit: www.clean-energy.com.
Forward-Looking Statements: Clean Energy's development plans and the prospective potential as described in this news release constitute "forward-looking statements" within the meaning of the United States federal securities laws that involve risks and uncertainties. Actual results may vary substantially from expectations as a result of a variety of factors including, by way of example and not limitation, Clean Energy's financial requirements and current lack of capital; Clean Energy's inability to satisfactorily complete the proposed merger transaction; changes in Clean Energy's business plan and corporate strategies; and the various risks and uncertainties disclosed by Clean Energy in its reports filed with the SEC. Readers are urged to carefully review and consider the various disclosures made by Clean Energy in its reports filed from time-to-time with the SEC that attempt to advise interested parties of the risks and uncertainties that may affect Clean Energy's business and an investment in its securities.
Contact:
Contact:
D.P. Martin & Associates Inc. Investor Relations for Clean Energy Combustion Systems, Inc. Ph: 561-514-0194 Email Contact
Source: Clean Energy Combustion Systems Inc.
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