SANTA TERASA, N.M., July 13, 2007 (PRIME NEWSWIRE) -- Transglobal Oil, Corp. (Pink Sheets:TRGO), a developer of alternative energy farms has approved a 5-for-1 forward split of the Company's stock, which was affected on July 10, 2007.
As a result of the stock split all shareholders on record as of June 25, 2007 will receive 4 additional common shares for each one of their existing common shares. There will be no change to the par value of the stock. All share increases will be documented as a book entry registered with the Company's transfer agent. Shareholders will not be required to surrender their existing certificates.
TRGO Director, Dr. Russ Chianelli, comments, "The Board deemed it prudent and essential to take this step in order to make the Company accessible to a larger shareholder base as it embarks on aggressive efforts to execute its strategic growth initiatives and create international awareness of its potential."
The Company's new trading symbol is TRGO.
About Transglobal Oil, Corp.
Transglobal Oil, Corp. is focused on the worldwide commercialization of distributed energy systems. These 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 microalgae into biodiesel and use low value resources like desert land, sunlight, and brackish water to produce 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.
Statements in this press release may be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words, such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to the company or its management, identify forward-looking statements. These statements are based on current expectations, estimates and projections about the company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and probably will, differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above. In addition, such statements could be affected by risks and uncertainties related to product demand, market and customer acceptance, competition, pricing and development difficulties, as well as general industry and market conditions and growth rates and general economic conditions. Any forward-looking statements speak only as of the date on which they are made, and the company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release. Information on Transglobal Oil Corp's website does not constitute a part of this release.