Salamon Group provides final progress report on closing of merger
Financial Audits and Legal processes near completion
Modesto, California and Kelowna, BC – March 3rd, 2011 Salamon Group Inc. (OTCBB: SLMU.OB), today announced that it is in the final stage of the acquisition of the Sunlogics Power Management Fund Inc.
“Audits are in the process of being completed ” said Michael Matvieshen, CEO of Salamon. “While we acknowledge that we had set expectations for February 28th as the last date for closing, it is prudent to reassure all stakeholders that, in our opinion, there are no apparent obstacles to the expected finalization of the merger by April 5th, 2011.”
About Sunlogics Power Fund Management Inc.
Sunlogics Power Fund Management Inc., is a solar energy project funder located in Kelowna B.C., Canada, specializing in solar energy power projects. It is the exclusive project-funding partner of Sunlogics Inc., a vertically integrated solar energy company. Additional information about Sunlogics Inc. can be found at its website at www.sunlogics.com.
About Salamon Group Inc.
Salamon Group Inc. is a publicly traded independent renewable energy company with headquarters in Las Vegas, Nevada, USA, and operations in Kelowna, BC, Canada and Modesto CA. It recently enhanced its business model to include the funding of solar power projects to be constructed by Sunlogics Inc.
This release may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “expects,” “plans,” “estimates,” “intends,” “believes,” “could,” “might,” “will” or variations of such words and phrases. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Salamon Group Inc. to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. These statements are based on management’s current expectations and beliefs and are subject to a number of risks and uncertainties which are described under the caption “Note Regarding Forward-looking Statements” and “Key Information – Risk Factors” and elsewhere in Salamon Group Inc.’s Annual Report for the fiscal year ended December 31, 2009 as filed on EDGAR at www.sec.gov. The risk factors identified in Salamon Group Inc. Annual Report are not intended to represent a complete list of factors that could affect Salamon Group Inc. Accordingly, readers should not place undue reliance on forward-looking statements. Salamon Group Inc. does not assume any obligation to update the forward-looking information contained in this press release.
Sass M. Peress, Chief Marketing Officer
INVESTOR RELATIONS CONTACTS:
Michael Matvieshen, Chief Executive Officer