FREEPORT, NY / ACCESSWIRE / January 9, 2018 / Enerkon Solar International, Inc. (OTC PINK: ENKS) (the "Company") is proud to announce that it is working to acquire what appears to be a profitable $40,000,000+ asset solar energy company.
The Company expects to exchange shares in the Company to consummate this acquisition which would also involve a change of control along with a divestiture of current activities upon consummation which is expected to be completed within this quarter.
The Company continues to believe, if and when completed, that this is just the first important step in a change of corporate direction that could increase shareholder value over short and long term time periods. The Company is excited to be working on entering the fast-growing solar energy field. The Company expects to release further information as the execution of the plan unfolds.
It is also expected that the Company will have experienced management changes to facilitate the entry into this exciting new developing area of green technology. A key figure in this new management is planned to be Mr. Benjamin Ballout who is expected to replace Dr. John Cappello as CEO.
Mr. Ballout is currently serving as a Managing Director of Diplomatic Trade Ltd., a U.S. corporation with offices out of New York, NY and Beirut-Lebanon. Benjamin is a Midcareer Executive who brings in over seventeen years of experience in various industries from Finance, Real Estate Development, Aerospace and Defense, and International Affairs with an understanding of the international trade and policies that affect global outcomes is part of his work functions. Benjamin is also involved in numerous Nation Buildings projects along with multiple Humanitarian relief efforts. He had the privilege to be among forward thinkers to participate in the project on U.S. National Security Reform Act. He also has a wealth of knowledge in the solar energy field.
This press release contains certain "forward-looking" statements, defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. Statements, which are not historical facts, are forward-looking statements. The company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors, factors that could cause actual results to differ materially from those estimated by the Company. This press release is provided for information purposes only and is not intended to constitute an offer to sell or a solicitation of an offer to buy securities.
John V. Cappello, CEO
Enerkon Solar International, Inc.
111 West Sunrise Highway
Second Floor East
Freeport, NY 11520
SOURCE: Enerkon Solar International, Inc.