MIAMI BEACH, Fla., March 23, 2011 (GLOBE NEWSWIRE) -- Legends Business Group (Pink Sheets:LGBS) announced today that it has conducted further meetings with the Florida based engineering firm that it had recently engaged and although negotiations are still in place, no outcome is ready yet with respect to Legends acquisition of the company.
"The good news is that we have reached a new agreement with the firm," said Rolando Sablon, president of Legends Business Group. "We have engaged them to perform parallel research and development of alternative energy products that Legends Power has under its own research. We will continue to discuss an acquisition while we jointly work on these projects."
It had been previously announced that Legends was negotiating the acquisition of this Florida-based engineering firm which actively designs and manufactures electronics for several clients including a major amusement park in Florida and California. The firm specializes in both analog and digital engineering solutions, including robotics, for its customers.
Sablon said the potential acquisition of this firm would accelerate the Company's efforts in the development of existing solar energy and wind power designs with the goal of enhancing the efficiency within these types of technologies.
Legends Business Group recently announced it has engaged the services of a Miami-based, boutique grant specialist to apply for a series of Federal grants.
About Legends Business Group
Legends Business Group, Inc., was incorporated in March 2006, and is a publicly traded company. The company has recently refocused its purpose and has moved itself into the alternative and exotic energy marketplace. For more information please visit: http://www.legendspower.com
Safe Harbor Statement
This report includes forward-looking statements covered by the Private Securities Litigation Reform Act of 1995. Because such statements deal with future events, they are subject to various risks and uncertainties and actual results for the fiscal year and beyond could differ materially from the Company's current expectations. Forward-looking statements are identified by words such as "anticipates," "projects," "expects," "plans," "intends," "believes," "estimates," "targets," and other similar expressions that indicate trends and future events. Factors that could cause the Company's results to differ materially from those expressed in forward-looking statements include, without limitation, variation in demand and acceptance of the Company's products and services, the frequency, magnitude and timing of paper and other raw-material-price changes, general business and economic conditions beyond the Company's control, timing of the completion and integration of acquisitions, the consequences of competitive factors in the marketplace, cost-containment strategies, and the Company's success in attracting and retaining key personnel. Additional information concerning factors that could cause actual results to differ materially from those projected is contained in the Company's filings. The Company undertakes no obligation to revise or update forward-looking statements as a result of new information since these statements may no longer be accurate or timely.