CARSON CITY, NV--(Marketwire - March 2, 2011) - TransGlobal Assets, Inc., (formerly TimeShare Holdings, Inc.) (
TransGlobal Assets is pleased to announce that Kent Strickler, Doug Johnson and Paul Thompson were elected as the Board of Directors for the year 2011 and will serve until the 2012 annual meeting. The proposed company name was ratified, changing it from Timeshare Holdings, Inc. to TransGlobal Assets, Inc. And a PowerPoint presentation was given on current company business, which will be available for view by March 3 on the Investor's Page of the company's transitional website at www.tmshglobal.com.
Of special note in the business update was that the 60MW PV Solar Power Project in Bulgaria is under review for a possible increase from its initial 60MW capacity to 75MW, increasing the potential Annual Net Revenue from $19M US to $23M US. At 75MW, the project would rank fourth largest in the world, according to PVResources.com. Once the project parameters are finalized, the company will realize an immediate cash flow of approximately $5M US dollars.
"We are delighted that the 2011 Shareholders Meeting was such a success and that we are officially underway with a brand new name and a brand new company mission," says Paul Thompson, Vice President, Investor Relations for TransGlobal Assets. "We have been moving at warp speed for several months to establish new operational components, to build alliances with strategic partners, and to accelerate projects from negotiations to contract. As usual, there are many announcements to present in the coming weeks that will continue to validate the magnitude of the Company's endeavors and we believe will reflect a more accurate market value for the company's share price in the near future."
Safe Harbor Statement
This news release contains "forward-looking statements" as that term is defined in Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this release include statements regarding the Company's projections regarding Biogas, PV Solar Energy, Wind Energy other alternative energy explorations in future periods. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: risks relating to PV Solar Energy, Wind Energy other alternative energy development risks; the risk of commodity price fluctuations; political and regulatory risks; risks of obtaining required operating permits and other risks such as weather conditions uncertainties. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contact Information:
General Inquiries:
Paul Thompson
Vice President, Investor Relations
Timeshare Holdings, Inc. - USA
investorrelations@tmshglobal.com
Visit us on the web at: www.tmshglobal.com