PHOENIX, AZ -- (Marketwire) -- 03/31/11 -- Alpha Lujo, Inc. (OTCBB: ALEV) (OTCQB: ALEV) announced that on March 30, 2011, it entered into a stock exchange agreement with Alpha Lujo Electric Vehicle Pty. Ltd., an Australian company. On that same date, the Company filed a Form 8-K with the SEC regarding this material definitive agreement. Please refer to the Form 8-K for a more detailed description of the agreement, which also includes a copy as an exhibit.
The electric vehicle company in Australia is a development-stage company and has developed innovative electric vehicle technology that utilizes existing car bodies from Chinese petrol-engine cars. The parties have established May 31, 2011 as the closing date of this transaction.
William Tien, CEO of both companies, remarked, "We are now in a position to implement our business plan and to create value for our Alpha Lujo shareholders. We look forward to informing the investment community as we make progress. Gasoline prices have created a significant demand for our green electric vehicles."
Forward-Looking Statements: Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements.
The Eversull Group, Inc.