NEW YORK, Oct. 25, 2006 (PRIMEZONE) -- W2 Energy Inc. (Pink Sheets:WWEN) a developer of green energy, is pleased to announce it has filed its Form 10 with the Securities and Exchange Commission. The management of the company made the decision to go back to a Form 10 rather than the SB-2 registration as a result of the current share price. Mr. Michael McLaren states, "The management and the board of the W2 Energy feel the current share price is too low to authorize an SB-2 registration of shares. The company has the financial resources near term to continue the execution of its business plan and management decided not to incur unnecessary dilution to the shareholders at this time."
The company's is executing on its business plan and is moving forward on target. W2 Energy continues to push forward on other projects including joint venture relationships and other partnership opportunities.
Safe Harbor for Forward-Looking Statements: Except for historical information contained herein, statements are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in the future periods to differ materially from forecasted projections. These risks and uncertainties include, among other things, energy market volatility, product demand, market competition, and risk inherent to the company's research and development operations.