LOS ANGELES, Jan. 13, 2010 (GLOBE NEWSWIRE) -- Gazoo Energy Group (OTCBB:GAZU), sees no validity to claims made by George A. Sharp, who is threatening a lawsuit to gain control of the company.
Mr. Sharp claims to have a controlling interest in Gazoo Energy Group, Inc., the public company formerly known as Principal Capital Group, Inc. There is no record of him having such an ownership, or being a major shareholder.
CEO, Chip Hackley notes that he has never been contacted by Mr. Sharp or Mr. Sharp's council as of January 13, 2010. Mr. Sharp is not a registered shareholder according to the company's transfer agent. The company is prepared to seek legal action against Mr. Sharp should he continue to pursue his effort.
About the company -- Gazoo Energy Group aggregates a variety of green products for mass distribution worldwide. It is engaging in acquisitions and developments of green energy companies. Gazoo Energy Group's immediate goal is to raise awareness and locate inventors with the desire and potential to make a difference in the green energy industry. Gazoo Energy Group, "Together, we can change the energy industry while simultaneously making a positive contribution to our planet." Please visit www.GazooEnergyGroup.com for more information.
Forward Looking Statement -- Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, those discussed in filings made by the Company with the Securities and Exchange Commission.