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| Ticker Symbol KHGT.PK |
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| Latest Share Price $0.235 |
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Kalahari Greentech Inc explains stock consolidation and change of business |
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| 13 January 2009 |
Kalahari Greentech Inc. ("Kalahari") (KHGT.PK), a global energy company, announced that on December 9, 2008, a majority of its shareholders consented to a consolidation of its common stock Furthermore, the shareholders approved a name change from NextGen Bioscience Inc. to Kalahari Greentech Inc to reflect its change of business from bioscience to green energy.
According to CEO Konstantinos Kardiasmenos, "With the global economic collapse we were continuing to have difficulty raising funds to promote our medical technology. We were approached with the opportunity to pursue a business venture in one of the world’s hottest emerging markets - safe, clean energy. To capitalize on this opportunity the Board of Directors believed it was in the best interests of our shareholders to restructure and a majority of those shareholders agreed. I am very excited about this new direction and I believe it will reap great benefits not only for our shareholders but also for the environment."
About KALAHARI
Kalahari is an energy company developing, constructing and operating wind energy projects. Kalahari is active throughout the entire wind energy value chain, as such an integrated business model ensures the greatest value creation for the shareholders. Kalahari is also active during the operational stage because this will enable the Company to achieve stable income and cash flows, which in turn is a prerequisite for building new capacity.
FORWARD-LOOKING STATEMENTS:
Statements about Kalahari's future expectations and all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as the term is defined in the Private Litigation Reform Act of 1995. Kalahari's actual results could differ materially from expected results. Kalahari does not undertake any obligation to update forward-looking statements to reflect subsequently occurring events or circumstances. Should events occur which materially affect any comments made within this objective, Kalahari will appropriately inform the public.
For more information contact investor@kalaharigreentech.com |
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