CGE Energy CEO Files Form 4 Reporting $6M Stock Purchase
BRIGHTON, Mich, Dec. 04, 2019 (GLOBE NEWSWIRE) -- CGE Energy, Inc. (OTCPink: CGEI), a leading energy solutions provider and developer of innovative self-powered technologies, reported that its President and CEO, Bryan Zaplitny, purchased $6,000,000 of CGEI common stock. The transaction was reported to the U.S. Securities and Exchange Commission (SEC) via Form 4 on December 3, 2019.
“I firmly believe that the Company's publicly traded share price undervalues the true equity of CGE Energy. For this reason, I have chosen to purchase these shares and further demonstrate my enthusiastic belief in our business model, patented technology and vision," said Zaplitny, “I wanted to express my belief, not just in words — but in a serious financial commitment.”
The Board of Directors of the Company have unanimously voted and signed a resolution to sell to Zaplitny the shares in exchange for the cancellation of a capital loan in the amount of $6,000,000, previously issued by Zaplitny. With the cancellation of this loan, this now strengthens CGE Energy’s balance sheet.
“My stock purchase demonstrates my confidence in our future and the diversified revenue opportunities ahead of us,” added Zaplitny, “not only for CGE Energy’s comprehensive energy projects, but also for the new developments of the WIND•e20® wind turbine.”
WIND•e20® is poised to be an integral part of the community, bringing positive impact to communications, homeland security, life safety, protected energy storage/backup, and first emergency response. These innovative features will provide additional recurring revenue streams for the company and will allow CGE to help connect and empower rural America.
The Company is preparing for an uplist to the OTCQB, where it expects to attract the attention of a broader base of investors.
About CGE Energy, Inc.
CGE Energy, Inc. makes it easy for businesses, local governments, and non-profits to receive the benefits of sustainable energy projects with no upfront cost. CGE hand-selects the very best facilities to partner with and turns their wasted energy into immediate and continuous savings for the customer. By uniquely selling sustainability-as-a-service, CGE’s proprietary Sustain business model delivers an exclusive combination of today’s best energy efficiency and sustainable energy generation technologies, including CGE’s exclusive WIND•e20® wind turbine.
To learn more visit http://www.cgeenergy.com.
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CGE Energy, Inc.
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.