LOS ANGELES, Feb. 18, 2014 (GLOBE NEWSWIRE) -- Transnational Automotive Group, Inc. (OTC:TAMG), today announced that the Company changed its corporate name to Transnational Group, Inc., effective January 31, 2014.
Additionally, Transnational Group has provided full disclosure of information to the OTC Markets Group, achieving "Current Information" status as of January 25, 2014. This designation is awarded to companies that follow the International Reporting Standard or the Alternative Reporting Standard by making filings publicly available through the OTC Disclosure & News Service pursuant to OTC Pink Basic Disclosure Guidelines.
The Company has filed annual financial statements for the periods ended February 28, 2012 and 2013 as well as interim financial statements for the period ended November 30, 2013, which are all available on the OTC Markets website. Transnational Group has also applied to FINRA (Financial Industry Regulatory Authority) to effect the name change in the marketplace.
"The decision to change our corporate name was made to more accurately reflect the company's transition out of the automotive industry and into the mining and exploration of natural resources as its primary focus. Transnational Group is also committed to providing full financial disclosure, which will instill more confidence in our company by current shareholders and potential investors," commented Dr. Philip Dutoit, Chief Executive Officer of Transnational Group.
About Transnational Group, Inc.
Transnational Group, Inc. is a development stage holding company, whose primary business is focused on the exploitation of natural resources and acquiring and developing transportation systems through partnerships and joint ventures, as well as the development of formidable partnerships with sponsoring governments and integrating management's best practices and expertise into their infrastructure.
This press release includes forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, and also includes selected operating results presented without the context of accompanying financial results. These forward-looking statements include, among others, statements with respect to our objectives and strategies to achieve those objectives, as well as statements with respect to our beliefs, plans, expectations, anticipations, estimates or intentions. These forward-looking statements are based on our current expectations. We caution that all forward-looking information is inherently uncertain and actual results may differ materially from the assumptions, estimates or expectations reflected or contained in the forward-looking information, and that actual future performance will be affected by a number of factors, including economic conditions, technological change, regulatory change and competitive factors, many of which are beyond our control. Therefore, future events and results may vary significantly from what we currently foresee. We are under no obligation (and we expressly disclaim any such obligation) to update or alter the forward-looking statements whether as a result of new information, future events or otherwise.