Sitoa Global Accepts Offer Letter to Explore Strategic Acquisition
HONG KONG, Feb. 19, 2013
HONG KONG, Feb. 19, 2013 /PRNewswire/ -- Sitoa Global Inc. (OTCQB:STOA)
(PINKSHEETS: STOA) ("Sitoa" or the "Company"), announced today that it
accepted an offer letter from a diversified technology company and the owner
of certain waste-to-energy and other renewable assets (the "Energy Business")
in respect of a proposed transaction in which Sitoa will purchase the Energy
Business in exchange for common shares in Sitoa. Both parties entered an
exclusivity period during which a detailed memorandum of understanding and
definitive agreements will be prepared.
About Sitoa Global Inc.
Sitoa Global provides an easy-to-use and comprehensive platform, the "Focused
Social Marketplace" that enables online retailers to deploy a social
marketplace e-commerce site. Sitoa's platform allows building marketplaces
for online sellers with focused social customer networks to expand their sales
channels without the risks of focus dilution, and increased capital and
operating costs. Sitoa shares in revenues generated by the site in addition to
charging integration and hosting fees. Additional information about Sitoa may
be found on its website, http://www.sitoaglobal.com.
Safe Harbor Statement
This release contains certain "forward-looking statements" relating to the
business of the Company. All statements, other than statements of historical
fact included herein are "forward-looking statements" including statements
regarding: the ability of the Company to consummate an acquisition of the
Energy Business; the business prospects and financial performance of the
Energy Business; the ability of the Company to successfully develop the Energy
Business and execute its business plan; the business strategy, plans, and
objectives of the Company; and any other statements of non-historical
information. These forward-looking statements are often identified by the use
of forward-looking terminology such as "believes," "expects" or similar
expressions and involve known and unknown risks and uncertainties. Although
the Company believes that the expectations reflected in these forward-looking
statements are reasonable, they do involve assumptions, risks, and
uncertainties, and these expectations may prove to be incorrect. Investors
should not place undue reliance on these forward-looking statements, which
speak only as of the date of this news release. The Company's actual results
could differ materially from those anticipated in these forward-looking
statements as a result of a variety of factors, including those discussed in
the Company's periodic reports that are filed with the Securities and Exchange
Commission and available on its website (http://www.sec.gov). All
forward-looking statements attributable to the Company or persons acting on
its behalf are expressly qualified in their entirety by these factors. Other
than as required under the securities laws, the Company does not assume any
duty to update these forward-looking statements.
SOURCE Sitoa Global Inc.
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