Salamon Group Inc. Signs SPA to Acquire Sunlogics Power Fund
LAS VEGAS , Dec. 30, 2010 (GLOBE NEWSWIRE) — Salamon Group Inc. (OTCBB:SLMU) announced today the signing of a Stock Purchase Agreement (the “Agreement”) with Sunlogics Power Fund Management Inc. for the reverse merger of the two companies.
Sunlogics Power Fund Management Inc.:
The scope of the company’s projects reach into the nations of the world including Canada, United States, Spain, Ireland, Germany and France.
SunLogics operates in a leadership position in solar solutions for rooftop, land park, and canopy applications along with consumer products marketed under the exclusive Energizer brand.
1401 F Street
Modesto, California 95356
Tel: 209 576-0140
Tel: 888 637-1777
Fax: 888 576-5356
5 – 215 Neave Road
Kelowna BC V1V 2L9
Tel: 778 753-5675
Fax: 778 753-5713
The fund has been established to invest in Sunlogics Inc. commercial solar power installations in North America. Projects will range in size from 20KW to as large as 10MW. All project investments will be identified and developed in partnership with Sunlogics Power Fund Management Inc. The net proceeds raised from subscribers will be contributed towards procurement of turnkey installations as identified and commissioned by SPFM. The fund targets returns of 10% to 15% from the cash flow generated from power sales of installations.
Sunlogics Inc. will be the developer and operator of the solar installations. Sunlogics is a vertically integrated solar projects developer that has procured partner alliances with world-class solar panel manufacturers and procurement organizations for the development and installation of commercial solar powered electricity generating systems.