SAN ANTONIO, TX / ACCESSWIRE / October 7, 2014 / Transact Energy Corp. (OTCQB:TEGY) has signed off on a securities subscription agreement with Solo Investmentos LTDA ("Solo") of San Paulo, Brazil in the first steps of a proposed long term strategy. Solo is in the process of establishing a dedicated fund to support the dissemination of TransAct zero emission waste optimization plants ( Z.E.W.O.P. TM ) throughout Brazil and eventually South America. As part of their commitment to the Company, Solo has agreed under contract to place three tranches of $1.2 Million USD each into the company starting in the beginning of October 2014 and every 5 months thereafter to a total of $3.6 million USD. The Company will issue 2.4 million shares for the first tranche at a cost of $0.50 USD, 1.2 Million shares at a cost of $1.00 for the second tranche and 800,000 shares at a cost of $1.50 USD for the third tranche. All shares issued under the offshore restricted subscription agreement will be unregistered and restricted common stock, resulting in Solo having a control block of shares (over 5% est 8.8%) when fully issued.
These prices are ahead of current market trading, however they reflect what Solo believes is the inherent value that comes from the TransAct initiatives in Mexico as well as Solo's efforts to provide the required funding and relationships necessary to develop TransAct's Z.E.W.O.P. TM in Brazil. "We have serious trash issues in Brazil" says Solo Ivestmentos president Fabricio da Silva "Legislation is slowly coming in to support change in this area, however the TransAct zero emissions solution eliminates both Landfills and incineration while making money. We see this as a great long term solution for our country and the world. We look forward to launching our dedicated green fund that will help grow the Z.E.W.O.P. TM technology throughout Brazil."
About Solo Investmentos LTDA:
Solo Investmentos is the brainchild of Fabricio da Silva. It is an independent wealth management company founded in San Paulo, Brazil on July, 2009. It currently has under management 100 Million Real focused in corporate investment and private wealth.
About TransAct Energy Corp.:
TransAct Energy Corp. is a Nevada organized company trading on the OTCQB as TEGY. TransAct has set out to eliminate the impact of humans waste on the environment by capturing all of the resources in our refuse using innovations in process and technology. We do this by developing and implementing technologies that provide useable energy in sustainable ways.
Visit TransAct's website http://www.transactenergycorp.com/ - follow them on twitter transactenergycorp@transactenergyc and contact them for more information about Transact Energy.
Safe Harbor Statement:
This press release contains certain statements that may include "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects," "anticipate," "optimistic," "intend," "will" or other similar expressions. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov/ . All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under applicable securities laws, the Company does not assume a duty to update these forward-looking
CONTACT:
Media Inquires:
Rod Bartlett
President CEO
[email protected]
210-888-0785
SOURCE: TransAct Energy Corp.