CGE Energy Announces Corporate Restructuring to Emphasize
BRIGHTON, Mich., Aug. 15, 2022 (GLOBE NEWSWIRE) — CGE Energy, Inc. (“CGE”, OTC: CGEI) is pleased to announce that it is proceeding with the next phase of its business plan, focusing on accelerating the development and promotion of the world’s first self-powered macro cell tower system.
In order to emphasize this unique and revolutionary product, which was created by CGE’s wholly-owned subsidiary – Aradatum, Inc. – and to bring additional value to the Company, the CGE Board of Directors unanimously voted last week to take all actions necessary to effectuate the merger of CGE into a to-be-formed subsidiary of Aradatum.
Following the merger, each of CGE’s shareholders of record will hold an equivalent amount of Aradatum shares to the shares of CGE that they held at the time of the merger. CGE’s Board has conditioned their approval on the merger being made on a tax-free basis, and the merger will be brought before CGE’s shareholders for final approval at the Company’s shareholder meeting.
About CGE Energy, Inc.
CGE Energy, Inc. is a holding company with two wholly owned subsidiaries, Aradatum, Inc. and Clean Green Energy, Inc.
About Aradatum, Inc.
Aradatum is a technology company that created the world’s first self-powered macro cell tower that you can place literally anywhere. Aradatum creates the infrastructure to solve geographic and power challenges caused by the limited reach of next-generation wireless networks. The towers provide secure and instantaneous communication for telecommunications and network infrastructure equipment running advanced applications for 5G, private networks and edge computing. www.aradatum.com
About Clean Green Energy, Inc.
Clean Green Energy, Inc. develops long-term energy projects that solve the unique energy challenges of its commercial, municipal and nonprofit customers. The Company provides both services and products that enable its customers to reduce their energy consumption; lower their upfront, operating and maintenance costs; and generate environmental benefits. www.cgeenergy.com
Press Release Contacts
CGE Energy, Inc.
Paul Schneider, VP Marketing
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