LOS ANGELES, May 5, 2015 (GLOBE NEWSWIRE) -- Primco Management, Inc. ("Primco" or the "Company") (OTCBB:PMCM), a versatile holding company, with several subsidiaries, announced today that in the follow up to the recently announced new corporate strategy and business development plan, the Company has entered into a Letter of Intent to acquire a Canadian solar power panels manufacturing company, Solgate, Inc. ("Solgate") through a new subsidiary. To complete the intended acquisition Primco and Solgate will have to go through extensive due diligence and a corporate restructuring process, which may take several months.
"Few would argue that solar power generation is the future of clean energy, and we are proud to team up with Solgate, a company at the forefront of clean energy technology development and manufacturing" - said David Michery, CEO of the Primco Management. He further stated – "Even though there will be a lot of work ahead to implement our plans, we hope that added exposure and the valuation multiples of US public markets will boost the ability of Solgate to further develop its operations, and lay the foundation for other acquisitions in the clean energy field." Vadim Lyubchenko, the CEO of Solgate, added – "We are looking forward to bringing the value of our well-established business to the shareholders of Primco and, pending the implementation of our acquisition, will be working in close cooperation with the management of the Company to take advantage of the various opportunities to further grow our business, including added reach into the US commercial and government markets, which are actively switching to cost-saving energy generation."
About Primco Management Inc.
Through its wholly-owned subsidiaries, ESMG Inc., Top Sail Productions and D & B Music, Inc., the Company operates as an integrated entertainment company with interests in music and film production and distribution. Primco also operates in various aspects of the medical marijuana and real estate industries.
About Solgate, Inc.
Solgate, Inc., (www.solgate.ca) located in Ontario, Canada, is a privately owned research and development and manufacturing company, which is the first large-scale, fully automated solar power-generating panels manufacturer in its province. The company specializes in commercial and industrial solar panel manufacturing as well as develops custom solar power generation applications.
Forward Looking Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical facts included in this press release are forward-looking statements. These statements relate to future events or to the Company's future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. No past revenue or other performance can guarantee the same or better performance in the future. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. Such risks, uncertainties and other factors, which could impact the Company and the forward-looking statements contained herein are included in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
CONTACT: Primco Management, Inc. (PMCM) 2211 Elliott Ave. Suite 200 Seattle, WA 98121 United States 206-455-2940 email@example.comSource:Primco Management, Inc.