NAPLES, Florida, July 17, 2017 /PRNewswire/ --
Sustainable Petroleum Group Inc. (the "Company") (OTCQB: SPGX) is pleased to announce the acquisition of new assets.
Following a string of acquisitions and projects announced earlier in the year, SPGX has completed another investment deal in Europe. As part of this deal, SPGX is excited to announce the acquisition of 20% of shares of SP Group (Europe) AG. Through this acquisition, SPGX is gaining direct access to its sister company, SPG.
"Through our new investment in SPG, we are pleased to be participating with a company focused on becoming a worldwide leader in the field of natural resources," stated Christian Winzenried, CEO of Sustainable Petroleum Group Inc.
At this time, SP Group (Europe) AG maintains a project portfolio of around 20 projects with an estimated value of more than CHF 250 Mio.
As an additional benefit of the new participation, SPGX is announcing the expansion of the company's global footprint. Effective July 8, 2017, SPGX will enjoy a representative office in Zurich, Switzerland.
About Sustainable Petroleum Group Inc.
SPGX as a member of SP Group is positioned to become a world leading natural resources holding and development company through value based investments and collaborative partnerships with global leaders across the natural resources sector.
SP Group has initiated its goals by pursuing investment and partnerships with some of the most diversified and integrated companies available on the market.
On behalf of Sustainable Petroleum Group Inc.
Chief Executive Officer
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release contains statements that plan for or anticipate the future, called "forward-looking statements." In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of those terms and other comparable terminology.
These forward-looking statements appear in a number of places in this press release and include, but are not limited to, statements about: our market opportunity; revenue generation; our strategies; competition; expected activities and expenditures as we pursue our business plan; the adequacy of our available cash resources; our ability to acquire assets or projects on commercially viable terms; challenges to our title to our assets; operating or technical difficulties in connection with our development activities; currency fluctuations; and governmental regulations.
Many of these contingencies and uncertainties can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this press release are qualified by these cautionary statements. Specific reference is made to our most recent annual report on Form 10-KSB and other filings made by us with the United States Securities and Exchange Commission for more detailed discussions of the contingencies and uncertainties enumerated above and the factors underlying the forward-looking statements. These reports and filings may be inspected and copied at the Public Reference Room maintained by the U.S. Securities and Exchange Commission at 100 F Street, N.E., Washington, D.C. 20549. You can obtain information about operation of the Public Reference Room by calling the U.S. Securities and Exchange Commission at 1-800-SEC-0330. The U.S. Securities and Exchange Commission also maintains an Internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the U.S. Securities and Exchange Commission at http://www.sec.gov .
We disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except to the extent required by applicable laws.
This press release is for informational purposes only and is not and should not be construed as an offer to solicit, buy, or sell any security.
For further information, please contact us.
Sustainable Petroleum Group Inc.
2316 Pine Ridge Road,
383 Naples, FL 34109
SOURCE Sustainable Petroleum Group Inc