SANTA ROSA BEACH, FL and WILMINGTON, DE, Jul 31, 2007 (MARKET WIRE via COMTEX)
-- Perihelion Global, Inc. (PINKSHEETS: PHGI), a development company with
interests in natural resources, alternative energies, and advanced
communications, today announced an update on its Perihelion Canada subsidiary
and answered some frequently asked questions regarding the dividend issue into
its Canadian subsidiary.
John H. Beebe, Chairman, Chief Executive Officer & President of Perihelion
Global, said, "As stated in a previous press release, Perihelion Global is in
the midst of listing the shares of its Canadian subsidiary, Perihelion Canada,
on the CNQ market in Canada. The listing is contingent upon prior approval and
compliance with all legal requirements of the CNQ market." Adds Beebe,
"Additionally, Perihelion Global wishes to issue its current shareholders a
dividend payment that will result in free trading shares on the CNQ. From our
experience with this process to date, it is too early to speculate on the exact
timetable that all of this will be completed. Executive Management believes on
the advice of its Canadian legal counsel, in consideration of their level of
expertise in Canada and acceptance by the CNQ, the whole process should take no
more than three months."
Perihelion Global retained the well respected Law Firm of Langlois Kronstroem
Desjardins, LLP, of Montreal, Quebec (www.lkd.ca) to facilitate the legal
formation of Perihelion Canada, with the intention to secure approval to list
its shares in accordance with all legal requirements of the CNQ.
Michel Lebeuf, of Langlois Kronstroem Desjardins, LLP serving as Perihelion
Canada lead counsel, stated, "We wish to emphasize that the formal listing of
the shares is conditional upon a thorough review and acceptance of the CNQ. As a
securities attorney in Canada, we are confident that Perihelion Canada will be
able to respect the legal requirements of the CNQ."
Management answers commonly asked questions regarding Perihelion Canada:
What will be Perihelion Canada's primary focus?
It is expected that Perihelion Canada will engage in the exploration of precious
metal and mineral properties in Canada. We intend to initially make an
acquisition in or near the uranium camp in the Otish region in the Province of
Quebec in the near future.
Will Perihelion Canada's shares be listed in the United States?
Perihelion Canada is a Canadian company, and management intends to list its
shares on the Canadian Stock Exchange - CNQ market.
Will the shares in Perihelion Canada be "Free Trading?"
It is intended that the shares issued as a dividend to Perihelion Global
shareholders will be Free Trading. Management is working diligently with its
legal counsel to meet all of the requirements of the CNQ to enable this.
Will Perihelion Canada have the same Transfer Agent as Perihelion Global?
No. Perihelion Canada will have a Canadian-based Transfer Agent in full
compliance with all applicable Canadian regulations and legal requirements.
How many shares of Perihelion Canada will I receive?
Management is proposing 1 share in Perihelion Canada for every 5 shares owned in
Perihelion Global, a Delaware Corporation. This however is subject to securities
review and full CNQ approval. The actual amount of shares issued as free trading
may vary contingent upon regulatory and listing approval.
Is Perihelion Canada governed under US Securities law?
Perihelion Canada is a Canadian company, intended to be listed on the Canadian
Stock Exchange - CNQ, and is subject to all applicable Canadian securities
guidelines, laws and regulations.
Does Perihelion Canada replace Perihelion Global's move up to the OTCBB?
No. Management intends to move Perihelion Global to the OTCBB via reverse merger
under the terms of a previously announced Letter Of Intent.
What is the actual Ex-Dividend date?
In a previous Press Release, management announced an ex-dividend date of July 3,
2007. Due to compliance requirements management has amended that date forward,
contingent upon formal CNQ approval. Management intends to announce a new formal
ex-dividend date in compliance with all applicable regulations at such time.
Can you issue a dividend of Free Trading shares now?
No. We are legally prohibited from issuing any dividend or security not bearing
a restrictive legend that has not previously met registration requirements and
been given formal registration approval.
How can I get more information about the listing process?
Shareholders may contact Perihelion Canada's legal counsel, Michel LeBeuf in
Montreal, Quebec at 1-514-282-7815 or email at michel.lebeuf@lkd.ca.
Additional updates will also be provided in the future.
About Perihelion Global:
Perihelion Global focuses on the acquisition, development and management of
technologies and strategic commodity reserves in the energy, natural resource
and advanced communications markets. Perihelion's management team specializes in
providing solutions for the strategic challenges of the 21st Century in
environments that are mission critical in the global marketplace. For more
information, visit: www.perihelion.com
Caution Regarding Forward-Looking Statements
This press release contains historical information as well as forward-looking
statements that are based upon our estimates and anticipation of future events
that are subject to certain risks and uncertainties that could cause actual
results to vary materially from the expected results described in the
forward-looking statements. The words "anticipate," "believe," "estimate,"
"expect," "hopeful," "intend," "may," "optimistic," "preliminary," "project,"
"should," "will," and similar expressions are intended to identify these
forward-looking statements. There are numerous important factors that could
cause our actual results to differ materially from those in the forward-looking
statements. Thus, sentences and phrases that we use to convey our view of future
events and trends are expressly designated as Forward-Looking Statements as are
sections of this news release clearly identified as giving our outlook on future
business.
These forward-looking statements are subject to significant risks, assumptions
and uncertainties, including, among other things, the following important
factors that could affect the actual outcome of future events:
-- General economic conditions, either nationally or in our market area, that
are worse than expected;
-- regulatory and legislative actions or decisions that adversely affect our
business plans or operations;
-- price competition;
-- inflation and changes in the securities markets that adversely affect the
fair value of our operations; and
-- changes in our organization, compensation and benefit plans.
We wish to caution readers not to place undue reliance on any such
forward-looking statements, which speak only as of the date made, and wish to
advise readers that the factors listed above could affect our financial
performance and could cause actual results for future periods to differ
materially from any opinions or statements expressed with respect to future
periods in any current statements. We do not undertake and specifically decline
any obligation to publicly release the result of any revisions that may be made
to any forward-looking statements to reflect events or circumstances after the
date of such statements or to reflect the occurrence of anticipated or
unanticipated events.
Contact:
Contacts:
John H. Beebe
Chairman, Chief Executive Officer & President
Perihelion Global
866-748-7610 (Toll Free) x 719
john@perihelion.com
SOURCE: Perihelion Global
CONTACT: mailto:john@perihelion.com
Copyright 2007 Market Wire, All rights reserved.
-0-
SUBJECT CODE: Environment:Natural Resource Management
Energy and Utilities:Alternative Energy |
