EL PASO, Texas, June 9, 2006 (PRIMEZONE) -- Transglobal Oil, Corp. (Pink Sheets:TGOC), announced the signing of a definitive agreement to merge with Energy Farms, Inc. a wholly owned subsidiary of Nanoforce incorporated in the State of New Mexico.
The merged company, Transglobal Oil, Corp. (www.tgoiltech.com), will be incorporated in New Mexico. The pending agreement requires Transglobal to issue 9 million common and 30 million preferred super voting shares to Energy Farms, Inc. shareholders resulting in a total of approximately 10 million common shares and 30 million preferred Transglobal shares issued and outstanding.
Transglobal Oil, Corp. will focus on the worldwide commercialization of heavy crude oil based distributed energy systems. These modular distributed energy systems (called energy farms) are designed to overcome social and environmental objections to building new refineries and produce a more secure energy supply. They integrate processes that convert low value heavy crude oils into high value lighter sweet crude and use refinery by-products and low value resources like desert land, sunlight, and brackish water to produce biodiesel, electricity, and fresh water. The Company's distributed energy units employ an environmentally conscious production system using patented and patent pending advanced materials and processes previously developed at Energy Farms, Inc.
Nanoforce CEO and interim Transglobal President, David Rendina, says, "Up to now we have exclusively focused on developing products for domestic markets, and Nanoforce intends to stay focused on these markets. However, we see enormous potential for this technology worldwide. This merger creates a new globally focused business, and we believe it will attract new management skilled in the development of commercial opportunities in global markets."
About Nanoforce, Inc.
Nanoforce (Pink Sheets:NNFC) is engaged in the research, development, acquisition and commercialization of advanced materials science products and processes including nanotechnology. Nanotechnology is the science of building and manipulating materials, devices and processes on the scale of atoms and molecules (one billionth of a meter). According to market research, it is estimated that worldwide revenues from products using nanotechnology will increase to $2.6 trillion in 2014, equal to about 15% of global manufacturing output, from $13 billion in 2004 (Lux Research). Nanoforce is taking advantage of rapid innovation in materials science to meet critical needs in growing industry sectors including petroleum refining and biodiesel production. For more information, please visit www.nanoforcetechnologies.com.
About Energy Farms, Inc.
Energy Farms is a developer of alternative energy solutions. The company has developed a commercialization plan that incorporates the sale of Energy Farm Franchise Units that will produce clean transportation fuels, biodiesel, electricity, and fresh water from otherwise unusable land, sunlight, and brackish water using patented and patent pending advanced materials and processes. These farms will be designed to convert low value resources into high value products using an environmentally conscious "closed loop" production system.
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