Owner
Post by Franko10 ™ on Nov 29, 2007 9:10:01 GMT -5
AC Energy Announces Cancellation of Restricted Shares
Monday April 23, 2007 12:32 pm ET
GARDNERVILLE, NV--(MARKET WIRE)--Apr 23, 2007 -- AC Energy, Inc. (Other OTC:ACEN.PK - News) announced today that its board of directors and certain shareholders have entered into an agreement resulting in the cancellation of 252,000,000 shares of the Company's common stock. Before the cancellation, ACEN had issued and outstanding 325,923,929 shares; effective April 18, 2007, there will be a total of 73,923,929 shares of common stock issued and outstanding.
As consideration for this agreement and cancellation, ACEN issued 1 million shares of Class A Preferred Stock, which provides majority voting authority for all shareholder votes to AC Energy, Ltd., a Canadian company, as well as certain liquidation privileges regarding the Company's technology.
Forward-Looking Statements:
Note: Except for the historical information contained herein, this news release contains forward-looking statements that involve substantial risks and uncertainties. Among the factors that could cause actual results or timelines to differ materially are risks associated with research and clinical development, regulatory approvals, supply capabilities and reliance on third-party manufacturers, product commercialization, competition, litigation, and the other risk factors listed from time to time in reports filed by AC Energy Corp. with the Securities and Exchange Commission, including but not limited to risks described under the caption "Important Factors That May Affect Our Business, Our Results of Operation and Our Stock Price." The forward-looking statements contained in this news release represent judgments of the management of AC Energy Corp. as of the date of this release. AC Energy Corp. and its managers and agents undertake no obligation to publicly update any forward-looking statements.
Mike Dillon,
President and Director
Contact:
CONTACT:
AC Energy, Inc.
775-782-6739
1528 Hwy 395 N # 130
Gardnerville, NV. 89410
www.acenergy.ca
Monday April 23, 2007 12:32 pm ET
GARDNERVILLE, NV--(MARKET WIRE)--Apr 23, 2007 -- AC Energy, Inc. (Other OTC:ACEN.PK - News) announced today that its board of directors and certain shareholders have entered into an agreement resulting in the cancellation of 252,000,000 shares of the Company's common stock. Before the cancellation, ACEN had issued and outstanding 325,923,929 shares; effective April 18, 2007, there will be a total of 73,923,929 shares of common stock issued and outstanding.
As consideration for this agreement and cancellation, ACEN issued 1 million shares of Class A Preferred Stock, which provides majority voting authority for all shareholder votes to AC Energy, Ltd., a Canadian company, as well as certain liquidation privileges regarding the Company's technology.
Forward-Looking Statements:
Note: Except for the historical information contained herein, this news release contains forward-looking statements that involve substantial risks and uncertainties. Among the factors that could cause actual results or timelines to differ materially are risks associated with research and clinical development, regulatory approvals, supply capabilities and reliance on third-party manufacturers, product commercialization, competition, litigation, and the other risk factors listed from time to time in reports filed by AC Energy Corp. with the Securities and Exchange Commission, including but not limited to risks described under the caption "Important Factors That May Affect Our Business, Our Results of Operation and Our Stock Price." The forward-looking statements contained in this news release represent judgments of the management of AC Energy Corp. as of the date of this release. AC Energy Corp. and its managers and agents undertake no obligation to publicly update any forward-looking statements.
Mike Dillon,
President and Director
Contact:
CONTACT:
AC Energy, Inc.
775-782-6739
1528 Hwy 395 N # 130
Gardnerville, NV. 89410
www.acenergy.ca
