Renewable Energy Resources Announces Stock Reverse and Name Change for Acquisitions
Posted on: Friday, 28 March 2008, 15:00 CDT
Renewable Energy Resources, Inc. (OTCBB:RENW) (www.nugreentech.com) announces that it has filed an 8-k on March 27, 2008, which communicates that it will effect a thirty to one stock reverse, to be effective after NASDAQ acceptance, for all shareholders of record on March 28, 2008, with an expected 10 day process for effectuation. The Company has also entered into a filing with the State of Florida and the NASD for a change of the Company's name to New Green Technologies, Inc., with a new stock symbol to be assigned on or about the time of the stock reverse.
The Company's Board of Directors determined that in order to expand its technology base and gain new technologies in the alternative and renewable energy and technology sectors, it is taking these steps, for new acquisitions and agreements that will be announced in the coming days.
About Renewable Energy Resources, Incorporated (To be New Green Technologies, Inc.)
RENW, is an alternative energy and resources company, which is utilizing its relationships both domestically and internationally to expand from its core alternative energy system in the small hydro area, which is being commercialized in Europe, to other alternative energy technologies and projects, some of which have been secured. The Company is in the process of acquisition of certain technology acquisitions which will be announced in the near future. RENW will soon be known as New Green Technologies, Inc.
Source: Business Wire
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