Solar Park Initiatives, Inc. today announced it has consummated a Plan of Merger and Reorganization with its wholly-owned subsidiary, Solar Park Acquisition Corp., and Critical Digital Data, Inc. "Management is pleased to close this transaction for our shareholders at a time of heightened activity for both Solar Energy Initiatives and the newly created SPI," stated David Fann, Chief Executive Officer of Solar Energy Initiatives, Inc., a parent company of Solar Park Initiatives. "With SNRY focused on securing municipal contracts and finalizing projects from its pipeline, and SPI concentrating on large scale solar parks, we believe we are positioned to grow our operations and establish ourselves as a market leader within the solar energy arena. Our management team will now be able to concentrate on their specific levels of expertise in order to grow revenue, expand market presence and increase earnings. This spin off is in line with our strategy of positioning SNRY for long-term growth, while creating value for our shareholders." |
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