Business & Finance
Business and Finance
Business and Finance
Wed, June 16, 2010 
FORT LAUDERDALE, FL--(Marketwire - June 16, 2010) - Trans Global Group, Inc. (
TGGI entered into a non-binding letter of intent as to a prospective sale of 100% of the capital stock of Kazore Holdings, Inc. ("Kazore Shares") in exchange for shares of ALFE common stock. The amount of ALFE shares to be issued in exchange for the Kazore Shares will be determined and based on the closing bid price of the ALFE Shares and the value of the Kazore Shares on the day the audited financial statements of Kazore Holdings, Inc. are completed.
Kazore Holdings, Inc. is a wholly-owned subsidiary of TGGI is engaged in the design, development and hosting of marketing software technology through its wholly-owned subsidiary Kazore, LLC, DBA Full Spectrum Media. Mr. Schneider, a newly appointed director of ALFE is also president and director of Kazore Holdings, Inc. and former managing member of Kazore LLC.
Completion of the acquisition will be contingent upon certain closing conditions including normal due diligence considerations, completion of audited financial statements for Kazore Holdings, Inc., and execution of definitive agreements by the parties on or before August 1, 2010.
In addition, the definitive agreements will provide that, subject to Nevada Revised Statutes Section 78.288, within sixty (60) days following the closing ALFE shall use its best efforts to file a registration statement with the Securities and Exchange Commission to register the ALFE Shares for distribution by TGGI to the shareholders of TGGI.
The foregoing press announcement contains forward-looking statements that can be identified by such terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. In particular, management's expectations could be affected by, among other things, uncertainties relating to our success in completing acquisitions, financing our operations, entering into strategic partnerships, engaging management and other matters disclosed by us in our public filings from time to time. Forward-looking statements speak only as to the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
