CHICAGO, IL--(Sep 18, 2012) - STL Marketing Group, Inc (PINKSHEETS: STLK) has signed a Binding LOI (Letter of Intent) to merge with Versant Corporation. Versant focuses on renewable energy generation and has an exclusive development contract for a proven site in Northern Costa Rica that is comprised of over 5000 hectares (over 12,400 acres). Wind expert, GL Garrad Hassan, has reviewed the wind data over the past five years and the company has completed a majority of its environmental studies and preliminary permitting. Additionally, the Export-Import Bank of the United States has issued a sixty (60) million dollar Letter of Interest.
Jose P. Quiros will be elected the new CEO of STLK at the closing. Mr. Quiros holds two degrees in Economics/Finance & International Business Management and graduated Summa Cum Laude for both degrees from Barry University. Most recently Mr. Quiros was the Chief Operating Officer for CETIS, Inc where he grew the company's revenue by 400% in four years. Mr. Quiros believes that "The renewable energy sector can become an important part of supplying the world's needs for power and that it can be a profitable sector if managed properly."
Ing. Pedro P. Quiros is the Chairman of the Board of the Versant Corporation and is the former CEO of the Instituto Costarricense de Electricidad, Costa Rica's state owned telecommunications and energy company with over a billion dollars in revenue and 20,000 employees. According to him, "Costa Rica has an energy shortage today and our goal is to use our significant resources, relationships and experience to help fulfill a small portion of the potential $5 billion shortfall for electric infrastructure projects in Costa Rica over the next decade."
The Company comes with strong local support as well. "We firmly believe that through this sustainable economic, social and ecological project we shall improve the quality of life of our people. This gives us very positive expectations on the achievement of wind power generation in La Cruz. As such, we commit to act as facilitators for this project, with the hope it becomes a model with regard to both the environment and social development." Mayor Carlos M. Gonzaga Martínez, Alcalde Municipal, Canton de La Cruz.
Versant has raised a total of $1,152,000 as a private company so far in exchange for equity in their company with the most recent raise being based on an $8,000,000 valuation. STL Marketing Group, Inc has not issued a single share in almost two years and will not issue any additional free trading shares to anyone at this time. If any free trading shares are added in the future the addition will not take place until after the merger is finalized and all reporting requirements are up to date. The current outstanding common share count in STLK as of September 18, 2012 is 18,759,792.
Current CEO of STL Marketing Group, Paul Sorkin, said, "We have negotiated with a number of potential companies to find the best overall fit and we believe this is an incredible opportunity to help significantly increase future revenues, profits and shareholder value while helping the environment. We have also agreed not to issue any shares or reverse the stock at this time and we will move forward with auditing the company and filing a registration statement to up list the company to a higher exchange and become a fully reporting company."
About STL Marketing Group
STL Marketing Group (PINKSHEETS: STLK) is a marketing and management company.
About Versant Corporation
Versant Corporation is a Colorado based renewable energy company whose primary focus is to develop and operate renewable energy projects. Its first stage of development is focused on wind energy facilities in Costa Rica. For more information on Versant, please visit our web site at www.v3rsant.com.
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plan, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks described in statements filed from time to time with the Securities and Exchange Commission. All such forward-looking statements whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements that may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
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SOURCE: STL Marketing Group