TGI Board Approves Establishment of European Subsidiary, Ben Hedenberg of Big Ben Ventures to Become Interim CEO
NORTH BRUNSWICK, NJ / ACCESSWIRE / February 5, 2020 / TGI SOLAR POWER GROUP INC. (OTC PINK:TSPG) (“TGI”), a diversified technology company, today announced today that the Board of Directors approved establishment of European subsidiary. Ben Hedenberg of Big Ben Ventures, financial advisor and investment banker, will serve as interim CEO and lead TGI and its expansion plans in Europe.
“Since we looked into setting up operations in Europe, over a year ago, we’ve seen significant interest by the “cleantech community, which show no signs of slowing, and actually constantly evolving of new green technologies and opportunities ” said Henry Val, CEO of TGI Group.
As we stated previously, TGI’s initial plan of Electric Vehicles assembly plant, will require financing Euro15-20mm combination of debt and equity. Financing is going to be done thru wholly owned European subsidiary. Big Ben proposal calls for pre-IPO placement of €2.5MM ($2.9MM) and follow up financing in-order to prepare for becoming a publicly traded entity on the Nordic Growth Market NGM AB, MIC Code XNGM (NGM), a regulated Swedish Stock Exchange in Stockholm and subsidiary to Boerse Stuttgart (SWB) in Germany.
Recently Ben RG Hedenberg, LL.M. Joined TGI’s Advisory Board stated “The success of TGI Auto of Europe will be built on a robust foundation of business planning and improved capitalization. We are very pleased for TGI extending Big Ben Venture Partners, our affiliates, partners and subcontractors this opportunity to work with your Company.”
About TGI Solar: TGI SOLAR POWER GROUP INC. is a diversified holding company. TGI’s strategy is to acquire innovative and patented technologies, components, processes, designs and methods with commercial value that will give competitive market advantage and generate shareholder value.
Safe Harbor Statements under the Private Securities Litigation Reform Act of 1965: Those statements contained herein which are not historical are forward-looking statements, and as such, are subject to risks and uncertainties that could cause actual operating results to materially differ from those contained in the forward-looking statements. Such statements include, but are not limited to, certain delays that are beyond the company’s control, with respect to market acceptance of new technologies, or product delays in the testing and evaluation of products, and other risks, as detailed in the company’s periodic filings with the Securities and Exchange Commission
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SOURCE: TGI Solar Power Group, Inc.
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