MIAMI, Aug. 31, 2012 /PRNewswire/ -- Energy Edge Technologies Corp (OTC: EEDG) has announced that Frank Campanaro has accepted the nomination to be its new Chairman of the Board. Campanaro is a highly successful international businessman and former US Army Ranger who is the recipient of numerous honors and awards for his military service, veteran advocacy and business accomplishments over the past 25 years.
Mr. Campanaro has just released the following statement:
"I am proud and humbled to be selected as Chairman of the Board of Energy Edge Technologies, a company that I believe can significantly lift the lives of millions all across our planet. Working and strategizing daily with an unparalleled management team that already includes the likes of one of my true heroes in life, Dr. Benjamin Chavis, makes this new position an honor and a blessing for me.
I also want to take this opportunity to report on the status of the Merger Agreement signed between Energy Edge and my Service Disabled Veteran Owned Small Business (SDVOSB), Trillacorpe Construction. The Agreement was signed with the full belief and intention that Trillacorpe would become a 51% owned subsidiary of EEDG and maintain its status as an SDVOSB, a status that truly defines my business as well as my entire being, and is the basis for the great majority of the revenues that Trillacorpe generates.
The government rules are clear that to maintain SDVOSB certification, service disabled veterans must maintain majority ownership of Trillacorpe. Since I would maintain 49% ownership of Trillacorpe directly, and an additional 10% ownership through the 20% stake I was to receive in EEDG under the terms of the Merger Agreement, my legal and accounting teams both felt confident that the SDVOSB status would not be jeopardized by the structure of the proposed merger. Unfortunately, after much case study research and direct communications with several government officials, it is still not100% clear whether Trillacorpe will be able to maintain its SDVOSB status post-merger. We are still awaiting our legal team's final determination in regard to this matter which we will share in the timeliest manner possible.
As a contingency plan, a new comprehensive Partnership Agreement between Trillacorpe and EEDG is being drafted that calls for joint venture initiatives, management consulting contracts, and the continued pursuit of a wide range of synergistic opportunities that began when we started working together almost ten months ago. I, personally, am deeply immersed in several burgeoning EEDG projects, as well as separate, additional merger and acquisition opportunities EEDG is exploring, and my acceptance of the EEDG Chair says everything about my enduring commitment to this great new enterprise, regardless of the path we decide to take."
Media contact: Glen Calder 561-750-9800 x216; [email protected]
This release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by Private Securities Litigation Reform Act of 1995. Prospective investors are cautioned that forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events, or changes to future operating results.
SOURCE Energy Edge Technologies Corp