VINELAND, N.J., Dec. 20, 2006 (PRIME NEWSWIRE) -- AuGRID Global Holdings Corporation (Pink Sheets:AUGC) has moved to closure by finishing the definitive agreement of sale with the American acquisition and near completion of the same type of final document for the Chinese acquisition due to International law; however we are working round the clock to finalize documentation to complete the acquisition and begin the financing phase. The NOBO list is being investigated share-by-share to ascertain and narrow down the short position.
Forward-Looking Statement:
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements regarding AuGRID Corporation in this release that are not historical in nature, particularly those that utilize terminology such as "may," "should," "likely," "expects," "anticipates," "estimates," "believes" or "plans," or comparable terminology, are forward-looking statements based on current expectations about future events, which AuGRID Corporation has derived from the information currently available to it. These forward-looking statements involve known and unknown risks and uncertainties that may cause our results to be materially different from results implied in such forward-looking statements. Important factors known to AuGRID Corporation that could cause forward-looking statements to turn out to be incorrect are identified and discussed from time to time in AuGRID Corporation's filings with the Securities and Exchange Commission. The forward-looking statements contained in this release speak only as of the date hereof, and AuGRID Corporation undertakes no obligation to correct or update any forward-looking statements, whether as a result of new information, future events or otherwise.