Power Americas Resource Group Ltd. Comments on Recent Promotional Market Activity

Rhea-AI Summary

Power Americas Resource Group Ltd. (PARG) is addressing a Caveat Emptor Designation placed on its securities by OTC Markets as of February 16, 2023, due to recent promotional activities not associated with the Company. PARG emphasizes the importance of relying on official Company communications for accurate information, warning investors against speculative claims about stock performance. The Company confirms that its management and controlling shareholders have not been involved in any promotional activities related to its shares. PARG is in contact with OTC Markets to expedite the removal of the designation, which typically lasts a minimum of 30 days.

Positive

• Company management is actively working with OTC Markets to resolve the Caveat Emptor Designation quickly.
• PARG manages its investor relations internally, ensuring control over information dissemination.

Negative

• Caveat Emptor designation may lead to a negative perception of PARG and could depress share price.
• Promotional activities by third parties could mislead investors, causing potential financial harm.

MIRAMAR, FL, Feb. 17, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire -- Power Americas Resource Group Ltd. (OTC: PARG) (the “Company” or "PARG"), a publicly traded, fully reporting emerging growth company commercializing its Digital Twin technology “Twin Infra” for the international construction industry, has been made aware by OTC Markets Group Inc. ("OTC Markets") about recent promotional activity concerning the Company and its common shares (the "Common Shares") resulting in a Caveat Emptor Designation being placed on the Company’s securities on February 16, 2023.

The Company takes its investor relations practices seriously, including its obligations to timely and accurately release material information which might reasonably be expected to have significant effect on the market price or value of its securities. The aforementioned promotional activities were conducted by parties not associated with the Company and we caution potential investors not to rely on any promotional and speculative statements and claims, touting future performance, anticipated trajectories of our stock price, or urging investors to act immediately. All potential investors should solely rely on information provided directly by the Company, which internally manages all investor relations, marketing, and corporate communications. Company information that may be relied upon may be found on www.otcmarkets.com, www.sec.gov and www.poweramericas.net. Information from any other source not published directly by the Company is specifically disclaimed and denounced.

The Company is presently an alternative reporting issuer with OTC Markets, Inc. and has been voluntarily reporting with the Securities & Exchange Commission on EDGAR. As such, all of the Company’s financial statements are audited and reviewed by its independent auditor.

From October 2022 through February 2023, PARG issued a number of press releases, reporting material developments and accomplishments, most of which were also filed with OTC Markets, Inc. as Disclosure Statements of Current Reporting of Material Corporate Events and, also, under the cover of Current Reports on Form 8-K with the Securities and Exchange Commission. These press releases, Disclosure Statements and Form 8-Ks are displayed on the Company's page on the OTC Markets' website.

The Company, after inquiry of management, its officers, directors, controlling shareholders (defined as shareholders owning 10% or more of the company’s securities), and all third-party service providers, confirms the aforementioned parties have not, directly or indirectly, been involved in any way with the creation, distribution, or payment of the subject promotional materials related to the Company and its Common Shares, and have not engaged in the buying or selling of Common Shares of the Company in the past 90 days. The Company had no knowledge of the subject promotional materials until notified by the OTC Markets Issuer Compliance Team which monitors and enforces OTC Markets Promotion Policies.

Lastly, the Company has been in contact with representatives from OTC Markets, Inc. to address this situation and remedy it as quickly as possible. Caveat Emptor designations typically remain on the Company’s securities for a minimum of 30 days, and the Company will work with OTC Markets, Inc. to ensure that this designation is removed in the least amount of time possible.

ABOUT US:

Power Americas Resource Group Ltd. (PARG) is the owner of various proprietary assets and intellectual property collectively known as "Twin Infra". Twin Infra is a complete IT -- SaaS solution for the Construction/Infrastructure industry based on the concept of "Digital Twin". A Digital Twin is a virtual representation of an object or system that spans its lifecycle from concept to retirement. It is manifested as an Analytical/Digital or 3D Model and is updated from real time-data captured by people or Systems, that is fed by people, systems, equipment, or sensors to help in streamlining, decision making and optimization of the construction, management, or maintenance processes. The Twin Infra module is an integrated SaaS based cloud platform to manage data models, people, process, and assets throughout the lifecycle of a construction project. The Twin Infra module has project management, process management, design data management and predictive analytic features to anticipate and forecast in all the stages of Construction/Infra from Design to Handover and maintenance. It works on public, private, and virtual cloud infrastructure and uses Artificial Intelligence for operational insights and efficiency.

SAFE HARBOR FORWARD-LOOKING STATEMENTS:

This press release may contain forward-looking statements that are based on current expectations, forecasts, and assumptions that involve risks as well as uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including statements related to the amount and timing of expected revenues related to our financial performance, expected revenue, contracts, and future growth for upcoming quarterly and annual periods. These risks and uncertainties are further defined in filings and reports by the Company with the U.S. Securities and Exchange Commission (SEC) and on the OTC Disclosure & News Service (OTCDNS). Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors detailed from time to time in our filings with the SEC and/or OTCDNS. Among other matters, the Company may not be able to sustain growth or achieve profitability based upon many factors including but not limited to the risk that we will not be able to find and secure construction contracts and the necessary assets that will enable us to become profitable. Reference is hereby made to cautionary statements set forth in the Company’s most recent SEC and/or OTCDNS filings. We have incurred and will continue to incur significant expenses in our development stage, noting that there is no assurance that we will generate enough revenues to offset those costs in both the near and long term. New lines of business in the construction industry may expose us to additional legal and regulatory costs and unknown exposure(s), the impact of which cannot be predicted at this time.

Words such as “estimate,” “project,” “predict,” “will,” “would,” “should,” “could,” “may,” “might,” “anticipate,” “plan,” “intend,” “believe,” “expect,” “aim,” “goal,” “target,” “objective,” “likely” or similar expressions that convey the prospective nature of events or outcomes generally indicate forward-looking statements. You should not place undue reliance on these forward-looking statements, which speak only as of this press release. Unless legally required, we undertake no obligation to update, modify or withdraw any forward-looking statements, because of new information, future events or otherwise.

Company Contact Information:

Principal Executive Offices:
3350 SW 148th Avenue
Suite 203
Miramar, FL 33027
(888) 507-4751
www.poweramericas.net
info@poweramericas.net

Investor Relations & Financial Media
Integrity Media Inc.
team@integritymedia.com
Toll Free: (888) 216-3595
www.IntegrityMedia.com

FAQ

What does the Caveat Emptor Designation mean for PARG stock?

The Caveat Emptor Designation indicates that investors should be cautious, as it signals potential risks associated with the stock, often due to unusual promotional activities.

How long will the Caveat Emptor Designation remain on PARG securities?

Typically, the designation lasts for a minimum of 30 days, but the Company is working to expedite its removal.

What actions is PARG taking regarding the recent promotional activities?

PARG is in communication with OTC Markets to address the situation and has confirmed that its management and controlling shareholders were not involved in the promotional activities.

Where can investors find reliable information about PARG?

Investors are encouraged to rely on information published directly by PARG on official platforms such as OTC Markets, SEC.gov, and Power Americas' website.

What technologies does PARG commercialize?

PARG commercializes its Digital Twin technology known as 'Twin Infra', which serves the international construction industry.