OMAHA, Neb., May 6, 2009 (GLOBE NEWSWIRE) -- NuEnergy Group, Inc. (Pink Sheets:NUER) (the "Company"), a public-traded company, announced today that its Board of Directors has approved the acquisition of Rising India, Inc. Terms of the acquisition included the reorganization of the current capital structure of NuEnergy Group, Inc., resulting in approximately 11,000,000 shares of common stock in the public company with control in the hands of the Board of Directors of Rising, India, Inc. Rising India, Inc. has filed for a name change and new trading symbol.
Corporate Profile
Rising India, Inc. is a United States-based public company with an international market in the development and production of innovative digital special effects and 3D character animation for films and TV production. Rising India, Inc. has on-going business relationships with a number of European and Asian companies that provide extensive background and expertise in the animation field. As a result of its international scope and relationships, Rising India is involved in the development, creation and marketing of animation projects for the European, Asian and United States markets and anticipates significant growth in this expanding industry and technology.
NuEnergy Group, Inc.
NuEnergy Group, Inc. is a Long Island, New York-based public company trading over-the counter under the symbol NUER. Its wholly owned operating subsidiary, NuEnergy Industries Corp. (NuEnergy), is a manufacturer, distributor, consulting, and research and development firm specializing in alternative energy products. NuEnergy Group, Inc. owns and controls the intellectual property, patent, development, marketing and distribution rights to multiple alternative energy products including the patent pending Thermal Electric Generator (TEG). Since NuEnergy Group has ceased operations, prior to the close of the acquisition any existing assets will be sold to private companies.
Safe Harbor Statement
Forward-Looking Statements: Investors are cautioned that certain statements contained in this document are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects" and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future Coastal Technologies actions, which may be provided by management, are also forward-looking statements as defined by the act. These statements are not guarantees of future performance.