New Global Energy, Inc. Announces Stock Buyback
Thermal, CA -- March 2, 2016 -- InvestorsHub NewsWire -- New
Global Energy, Inc. (OTCQB:
NGEY) ("the Company"), a public company focused on
Aqua-Farming, Agriculture, and Health & Wellness, announced
today that its board of directors has authorized the repurchase of
up to 600,000 shares of the Company's common stock.
"At the current valuation, we believe the repurchase of our
stock is a good use of funds that will reduce our public float by
about 25% and demonstrate our commitment to enhanced long-term
shareholder value," said Chief Executive Officer Perry D. West. The
shares will be purchased from time to time in the open market and
the timing of purchases will be based on the stock price and other
market factors.
In recent months, the Company has reported on new developments
related to a new line of Moringa capsules. The Company plans to
introduce specially branded line of Moringa capsules to its line of
nutraceutical products, which will include drinks, tea, energy bars
and other items to be sold through existing distribution contracts
and to larger retail markets. Additionally, New Global Energy
launched the tilapia spawning season at its farm in Californias
Coachella Valley with a record number of fish. New financing
commitments from outside investors mean 2016 should prove to be
record setting in terms of the number of sustainable fish grown and
ultimately sold on the companys farm.
About New Global Energy, Inc.
New Global Energy, Inc. (www.newglobalenergy.net) is a public
company focused on acquiring high-growth firms, assets and
properties in the Aqua-Farming, Agriculture, and Health &
Wellness industries. The trading symbol is
NGEY traded on the OTCQB. New Global Energy seeks to create
sustainable projects and protect the environment.
Safe Harbor Statement
This release includes "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E and/or 27E of the Securities Exchange Act of 1934
that are based upon assumptions that in the future may prove not to
have been accurate and are subject to significant risks and
uncertainties, including statements as to the future performance of
the company and the risks and uncertainties detailed from time to
time in reports filed by the company with the Securities and
Exchange Commission. Statements contained in this release that are
not historical facts may be deemed to be forward-looking
statements. Investors are cautioned that forward-looking statements
are inherently uncertain. Although the company believes that the
expectations reflected in its forward-looking statements are
reasonable, it can give no assurance that such expectations or any
of its forward-looking statements will prove to be correct. Factors
that could cause results to differ include, but are not limited to,
the company's ability to raise necessary financing, retention of
key personnel, timely delivery of inventory from the company's
suppliers, timely product development, product acceptance, and the
impact of competitive services and products, in addition to general
economic risks and uncertainties.
For more information contact:
Charlotte Luer, Director of Investor Relations
cluer@newglobalenergy.net
239-404-6785
SOURCE: New Global Energy, Inc.