Dallas, Texas, July 29, 2011. StockGuru shines its Spotlight on Salamon Group Inc. (OTCBB: SLMU) today announced that Sunlogics PLC, (Frankfurt: 18L), parent company of Sunlogics Inc., upon the announcement yesterday the the Company has received an equity investment of $7.5 Million from GM Ventures, a division of GM. The investment will provide the required working capital in order to develop and construct solar projects throughout GM’s worldwide facilities and dealer network to support GM’s “Solar Renewable Energy Initiative.” The Company closed on July 29, 2011, at $0.09, trading on 2.6 million shares.
As a result of the “right of first offer” agreement signed between Salamon Group Inc. and Sunlogics Inc, on May 2nd, 2011, this working capital injection will now accelerate the construction of solar charging stations at GM dealerships and rooftop solar power installations worldwide, which will provide Salamon Group with a pipeline of high quality solar assets for acquisitions.
About Salamon Group Inc.
Salamon Group Inc, through its Sunlogics Power Fund Management Inc. division, is a solar energy project fund located in Modesto, California, specializing in renewable energy power projects. It is a project-acquiring partner of Sunlogics Inc., a vertically integrated solar energy company. Salamon Group Inc. is a publicly traded independent renewable energy company with headquarters in Las Vegas, Nevada, USA, and operations in Modesto, CA. It recently enhanced its business model to include the funding of solar power projects to be constructed by Sunlogics Inc.
This release may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “expects,” “plans,” “estimates,” “intends,” “believes,” “could,” “might,” “will” or variations of such words and phrases. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Salamon Group Inc. to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. These statements are based on management’s current expectations and beliefs and are subject to a number of risks and uncertainties which are described under the caption “Note Regarding Forward-looking Statements” and “Key Information – Risk Factors” and elsewhere in Salamon Group Inc.’s Annual Report for the fiscal year ended December 31, 2009 as filed on EDGAR at www.sec.gov. The risk factors identified in Salamon Group Inc. Annual Report are not intended to represent a complete list of factors that could affect Salamon Group Inc. Accordingly, readers should not place undue reliance on forward-looking statements. Salamon Group Inc. does not assume any obligation to update the forward-looking information contained in this press release.
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