MIAMI, June 23, 2009 (GLOBE NEWSWIRE) -- Fuego Enterprises, Inc., (OTCBB:FUGI) today announces that effective June 9, 2009, it completed a name and symbol change. The company was previously Fuego Entertainment, Inc. trading under the symbol FUGO. On April 17, 2009, a majority of the shareholders of Fuego Entertainment, Inc. voted by written consent to change the name of the company to "Fuego Enterprises, Inc." The Company decided to change its legal name to Fuego Enterprises, Inc. to better define its role in non-media business activities.
About two months ago the Obama administration appeared to open the door for negotiations toward a new relationship between the United States and Cuba by lifting restrictions against unlimited travel to all Cuban-Americans and money transfers by Cuban-Americans to family in Cuba. The administration is expected to begin issuing licenses that allow telecommunications and other related businesses to provide cellular, satellite, and television services to people on the island.
While American companies and investors are currently prohibited from direct business dealings in Cuba, we are now ready to act once all Cuba/America restrictions are lifted. For now, travel-related services to Cuba, media and entertainment, and telecommunications sectors are industries that we are exploring avenues to become actively involved.
About Fuego Enterprises, Inc.:
Fuego Enterprises, Inc. is a diversified holdings company with operations in media and entertainment, telecommunications, and other industries currently under development. Fuego Enterprises is based in the U.S. with a focus on Latin markets and the potential to enter trade with Cuba once restrictions are lifted. For more information, please visit Fuego Enterprises at www.fuegoentertainment.net
This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Fuego Enterprises, Inc., members of their management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.