Transnational Group Files 2014 Annual Report With OTC Markets
23 April 2014 - 10:00PM
Transnational Group, Inc. (OTC:TAMG), today announced that the
Company has filed its annual report for the fiscal year 2014 ended
on February 28, 2014 with the OTC Markets. Transnational Group
resumed operations in 2013, having changed its name from
Transnational Automotive Group to accurately reflect the Company's
new business model of acquiring and developing properties
containing natural resources through partnerships and joint
ventures.
As a result, management would like to highlight for current
shareholders some of its notes regarding the Company's 2014 annual
report and financials. CEO of Transnational Group, Dr. Philip
Dutoit, commented, "The Company was previously engaged in the
development and operation of mass public transportation in
Cameroon, Africa and experienced substantial losses in 2008 due to
the global financial crisis. As a result, operations were abandoned
or taken over by the host country due to difficulties with local
financing and management."
"In order for Transnational to become profitable moving forward,
the Board of Directors accepted liability for past expenditures,
including advances from shareholders to cover legal fees for past
lawsuits against the Company prior to 2012. It is critical for our
current shareholders to note that these lawsuits have all been
settled or resolved and Transnational believes there are no further
legal actions pending against the Company," continued Dr. Dutoit.
"Moving forward in fiscal 2015, Transnational Group expects to
enter agreements for resource exploitation and development that
will generate significant revenues and profits for several years to
come," concluded the Company's CEO.
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 properties through
partnerships and joint ventures, as well as the development of
formidable partnerships with sponsoring governments and businesses
and integrating management's best practices and expertise into
their infrastructure. Cautionary Note to U.S.
Investors: The United States Securities and Exchange
Commission limits disclosure for U.S. reporting purposes to mineral
deposits that a company can economically and legally extract or
produce. We use certain terms on this press release, such as
"reserves," "resources," "geologic resources," "proven,"
"probable," "measured," "indicated," or "inferred," which may not
be consistent with the reserve definitions established by the SEC.
U.S. investors are urged to consider closely the disclosures in our
reports filed with the OTC Markets Group, Inc. You can review and
obtain copies of these filings from the OTC Markets website at:
http://www.otcmarkets.com.
Forward-Looking Statements: 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.
CONTACT: Seal Point Consulting
888-959-7095
ir@sealpointconsulting.com
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