Los Angeles, CA- January 2, 2020- Element Global, Inc. (ELGL:OTC) provides a corporate update regarding its operational on-goings.Throughout 2019, Management made enormous strides to move the Company forward, with the primary objective of value-added opportunities.
In June 2019, ELGL organized an Exploratory Committee (“Committee”) to evaluate the best possible outcomes of ALL business decisions as it relates to being accretive to ELGL’s operational growth. Through its business subsidiaries in mining, energy, technologies, media, sports, and finance, management remains diligent in creating several revenue streams, which in turn can create shareholder value.
Currently, Management remains committed to getting ELGL to become a fully-reporting US SEC entity. As such, the Board of Directors and officers at ELGL, under the suggestion of the “Committee,” began to look at the best possible way to become a US SEC filer. At this time, the best possible, least costly and timely outcome looks to merger ELGL and its assets into an existing fully-reporting company. If such an arrangement becomes possible, management will structure such a merger whereas ELGL becomes the surviving entity.
The ELGL team continued to evaluate the prospect of such a merger, and began in earnest with extensive due diligence with targeted US SEC fully reporting entities. Upon final due diligence on targets, Management believes that a merger deal could be obtainable to become fully-reporting with the best possible outcomes of both time and expense.
If an arrangement can consummate itself, management expects to proceed with necessary non-disclosures, term sheets, and other legal documents.
Once more information becomes available as warranted, updates to follow, accordingly.
About Element Global Inc.
Element Global, Inc. (ELGL:OTCMARKETS), a diversified holding company with global business interests centered on renewable energy, technology, media and production, distribution and AVOD/SVOD streaming on its platform in original and licensed film and TV content globally, brings together these enterprises to capitalize on both domestic and international opportunities. As new energy and smart digital technologies converge globally, which supports emission reductions through the electrification of power, transport, industry, and buildings, ELGL envisions itself capitalizing on the increases in demand in these industries, www.elementglobal.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Certain information contained in this release contains forward-looking statements that involve risk and uncertainties, including but not limited to, those relating to development and expansion activities, domestic and global conditions, and market competition.