LAS VEGAS, Feb. 28, 2012 /PRNewswire/ -- City Capital
Corporation (Pinksheets: CTCC) announces that it has retained the
services of Legal Outsourcing Group LLC. With combined management
experience of over 40 years in the areas of financial restructuring
and workouts, Legal Outsourcing Group LLC will separate and address
the old liabilities and contingencies of City Capital Corporation,
so that new management can focus on the further development of our
newly expanded subsidiary Strategic Energy and Power. STEP is
a Nevada-based subsidiary that
designs, manufactures, distributes and installs commercial solar
power generating installations and commercial LED lighting systems,
using its patented and licensed technologies.
The company is particularly enthused about this new business
relationship. By contracting with LOG, the company will
continue to separate the past from the future. When the new
team took over management of CTCC last November, it was faced with
legacy claims from old investors and stockholders regarding
troubles with the prior management team. "We are very confident
that this will be an effective and cost efficient way to reduce or
eliminate a significant portion of the old liabilities, and create
a strong platform for future growth of our STEP subsidiary," stated
company CEO Donald MacIntyre.
"Additional information regarding this agreement will be posted on
a new (to be established) company web site shortly."
With distribution and installation agreements already in place,
the company offers solar and LED installation for both residential
and commercial applications around the country. Talks are up-coming
with several Native American entities for systems to meet their
needs, and plans are underway to bid competitively for governmental
contracts.
Safe Harbor Statement- This release includes forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933 and Section 27E of the Securities Act of 1934. Statements
contained in this release that are not historical facts may be
deemed to be forward-looking statements. Investors are cautioned
that forward-looking statements are inherently uncertain. Actual
performance and results may differ materially from that projected
or suggested herein due to certain risks and uncertainties
including, without limitation, ability to obtain financing and
regulatory and shareholder approvals for anticipated actions. Such
statements are based on management's current expectations and are
subject to certain factors, risks and uncertainties that may cause
actual results, events and performance to differ materially from
those referred to or implied by such statements. In addition,
actual or future results may differ materially from those
anticipated depending on a variety of factors, including continued
maintenance of favorable license arrangements, success of market
research identifying new product opportunities, successful
introduction of new products, continued product innovations, sales
and earnings growth, ability to attract and retain key personnel,
and general economic conditions affecting consumer spending.
Readers are cautioned not o place undue reliance on these
forward-looking statements, which speak only as of the date hereof.
City Capital Corporation, does not intent to update any of the
forward-looking statements after the date of this release to
conform these statement to actual results or to changes in its
expectation, except as may be required by law.
Investors contact:
Ten Associates LLC.
investors@step-power.com
Legal issues contact:
Legal Outsourcing Group 800.651.9313
Twitter: legaloutsourcin
Skype: legal_outsourcing
SOURCE City Capital Corporation