CGE Energy Positions Its Subsidiary, Aradatum, For Future Growth
CGE Energy, Inc. (OTCPink: CGEI) announced the issuance of 60 million common shares of its subsidiary, Aradatum, Inc., to better position for a future spin-out. This strategic move aims to allow CGEI shareholders to receive shares in Aradatum upon its official spin-off, potentially enhancing their investment value. President Bryan Zaplitny emphasized that this decision is part of positioning Aradatum for future growth and to attract necessary capital for scaling its manufacturing capabilities in self-powered telecommunication products.
- Issuance of 60 million Aradatum shares strengthens the potential for shareholder value.
- Spin-out of Aradatum allows shareholders to benefit from future growth opportunities.
- None.
BRIGHTON, Mich, Feb. 11, 2021 (GLOBE NEWSWIRE) -- CGE Energy, Inc. (OTCPink: CGEI) has taken a strategic step towards the future growth of its subsidiary, Aradatum, Inc. Aradatum has issued 60,000,000 (sixty million) Aradatum Common Shares to its parent, CGE Energy.
The rationale for the issuance is to better enable CGE Energy to transfer these Aradatum Shares proportionally to CGEI Shareholders when Aradatum is officially spun-out. After the spin-out, Aradatum will be free to pursue its own stock listing. This action rewards CGEI Shareholders with an opportunity to participate in the future growth of Aradatum.
Bryan Zaplitny, President of CGE Energy said, "We wanted to take this strategic step now to position Aradatum for future growth and spin-out from CGE. This move enables Aradatum to attract the capital it needs to scale manufacturing and install its self-powered telecommunication infrastructure products."
About CGE Energy, Inc.
CGE Energy, Inc., and its wholly-owned subsidiary Clean Green Energy, Inc., is a developer of long-term energy projects and self-powered infrastructure which solve the unique energy challenges of their commercial, municipal and nonprofit customers. The Company provides both services and products that enable its customers to reduce their energy consumption; lower their upfront, operating and maintenance costs; and realize environmental benefits. http://www.cgeenergy.com/.
About Aradatum, Inc.
Aradatum is a technology company that provides the keys to ubiquitous wireless connectivity. Aradatum puts the infrastructure in place to solve geographic and power challenges that have limited the reach of next-generation wireless networks, offering a simple way to provide secure and instantaneous communication for telecommunications and network infrastructure equipment running advanced applications for 5G, private networks, and edge computing. Aradatum, Inc. is a subsidiary CGE Energy, Inc. www.aradatum.com
Press Release Contacts
CGE Energy, Inc.
Paul Schneider, VP Marketing
248-446-1344
pschneider@cgeenergy.com
This release may contain "forward-looking statements" that are within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are identified by certain words or phrases such as "may", "will", "aim", "will likely result", "believe", "expect", "will continue", "anticipate", "estimate", "intend", "plan", "contemplate", "seek to", "future", "objective", "goal", "project", "should", "will pursue" and similar expressions or variations of such expressions. These forward-looking statements reflect the Company's current expectations about its future plans and performance. All forward-looking statements included in this release are based on information available to us on the date hereof and speak only as of the date hereof. We undertake no obligation to update or revise publicly any forward-looking statements. Actual results may differ materially from those projected in the forward-looking statements.
FAQ
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