Published:
Clean Energy Moves to Close Merger
Clean Energy Combustion Systems, Inc.
(PINKSHEETS: CECU) is pleased to announce that it is continuing to pursue
the merger with PanPacific Business Limited of Hong Kong as discussed in
the news release Dec. 04, 2007. PanPacific is a Hong Kong-based private
company actively involved in the premium advertising and printing sectors
in the Chinese and Hong Kong markets. To that extent both CECU and
PanPacific Business Limited are in the process of retaining professionals
to effect the merger.
The proposed merger will be subject to a number of conditions including
satisfactory due diligence by both parties; satisfactory review of the
financial statements of both companies; satisfactory review of the
Definitive Purchase Agreement; satisfactory review of valuation and the
required regulatory, shareholder and Board approvals.
John Thuot, Director of Clean Energy, stated, "We are extremely excited
about closing this merger and taking advantage of the opportunities that
this merger represents, and we are in our final phase of due diligence. We
anticipate that all conditions will be satisfied and the merger closed
soon. We are of the belief that our corporate objective -- To secure
exciting business opportunities in China -- will be accomplished through
the merger with PanPacific Business Limited."
About PanPacific
PanPacific Business Limited is a privately held company based in Hong Kong
and is actively involved in the premium advertising and printing sectors in
the China and Hong Kong markets. The company is pursuing an aggressive
expansion plan that will position PanPacific as a leader in this industry.
Most recently PanPacific Business Limited opened an exciting new division
engaged in the promotion of major world acts to be staged at venues
throughout China, Macau and Hong Kong. For further information, visit:
www.yespanpacific.com.
About Clean Energy Combustion Systems, Inc.
Clean Energy Combustion Systems, Inc. (PINKSHEETS: CECU) has been seeking
more attractive business opportunities in China that offer a greater
potential for increased shareholders value. For further information, visit:
www.clean-energy.com.
Forward-Looking Statements: Clean Energy's development plans and the
prospective potential as described in this news release constitute
"forward-looking statements" within the meaning of the United States
federal securities laws that involve risks and uncertainties. Actual
results may vary substantially from expectations as a result of a variety
of factors including, by way of example and not limitation, Clean Energy's
financial requirements and current lack of capital; Clean Energy's
inability to satisfactorily complete the proposed merger transaction;
changes in Clean Energy's business plan and corporate strategies; and the
various risks and uncertainties disclosed by Clean Energy in its reports
filed with the SEC. Readers are urged to carefully review and consider the
various disclosures made by Clean Energy in its reports filed from
time-to-time with the SEC that attempt to advise interested parties of the
risks and uncertainties that may affect Clean Energy's business and an
investment in its securities.
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