PGI Energy Terminates Material Agreements
August 26 2011 - 7:00PM
Marketwired
PGI Energy, Inc. (PINKSHEETS: PGIE) executive
team has decided to terminate its Pro One Products sales JV
agreement citing irreconcilable differences between the parties. We
have also decided to terminate our working relationship with
Intertorco Europe, S. A. and their USA office because the US
embargo against Sudan prohibits us from conducting business with
Sudapet and Northern Sudan regarding the oil industry. Intertorco
had previously misrepresented facts and terms of our agreements
specifically with regards to Saudi Aramco, which undermines our
confidence in their ability to perform.
About us PGI Energy,
Inc. is an energy holding company, headquartered in Houston,
Texas. The company's purpose is to acquire assets in the proven
producing oil, gas assets, refinery, pipeline sectors of the energy
industry and other synergistic assets.
PGI has formed several partnerships to grow its core business
organically through strategic alliances diversifying its interest
in green energy through biomass production, waste to energy, wood
pellets production, syn gas, bio char production and plastics to
synthetic crude. PGI has several core divisions which provide
support to its operations and customers such as PGI Transportation & Logistics, PGI Manufacturing &
Engineering, PGI Green E & P and PGI Commodities
Trading.
For more information visit: WWW.PGIEnergy.us or Email: ir@pgienergy.us
Contact Media & Investor Relations Contact: PGI Energy, Inc.
Jose I. Colon 832-900-1400
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