WEST PALM BEACH, Fla., Nov. 10, 2011 /PRNewswire/ -- China Nuvo Solar Energy, Inc. (OTCQB: CNUV) today announced that the SurgLine management team has agreed to an additional six month lock up period for the shares issued in conjunction in the September 1, 2011 acquisition. The Company is also discussing additional conditions and restrictions. These will be announced when finalized. Also in addition, based on the Company’s stock transfer agent’s journal approximately 84% of the Company’s issued shares are restricted, which include shares held by the Company’s former CEO and Directors.
Thomas Toland, CEO of SurgLine, Inc., stated “We are pleased to effectuate this additional lock up period as this better aligns Company and shareholder interests.”
During the past few days the Company has received numerous shareholder inquiries regarding share ownership and dilution in addition to the status of the previously announced strategy of a corporate name change. The Company has filed with FINRA the documents to effectuate the name change to SurgLine International, Inc. We will announce further press as the process of the symbol change and cusip move forward with regulatory approval.
Mr. Toland, commented, “We believe that the public company name change once effective in the marketplace, reflects the importance we place on our shareholder’s investment in us, our commitment to attracting a larger group of investors who share our enthusiasm, and those who take a long-term view of the company’s growth possibilities. We believe this move accurately reflects the current strategic and tactical focus of our Company, and not only aligns the growing brand awareness of our wholly-owned subsidiary, but paves the way for other transactions at the corporate level.”
About SurgLine, Inc.
SurgLine, Inc. (www.surgline.com) is a company focused on reducing and or eliminating the historical brand premiums charged by our competitors to acute care hospitals, outpatient surgical centers and surgical hospitals.
Our products are FDA approved, high quality, and value priced thus providing substantial savings to the end user client base while delivering the healthcare sector with real savings overall.
We source products both domestically, and around the globe in order to provide the highest quality products at the best possible price to our clients. We work with stocking distribution channels throughout the U.S. and invite third-party distribution opportunities to those who share our core philosophy of “Providing more value for your Healthcare Dollar”
About China Nuvo Solar Energy, Inc.
China Nuvo Solar Energy, Inc. is a holding company that in addition to SurgLine, wholly owns Nuvo Solar Energy, Inc., a development stage company that owns unique patent pending solar and photovoltaic related technology. The Company is also seeking other business opportunities. On October 18, 2011 China Nuvo Solar Energy, Inc., amended its articles of incorporation and changed its name to SurgLine International, Inc. The Company is in the process of working with the regulatory bodies to reflect the new name, symbol and Cusip number for quotation on the OTCQB.
This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on the Company’s current expectations as to future events. However, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.
For Further Information Contact:
Tom Toland
949-698-8485
SOURCE China Nuvo Solar Energy, Inc.