BGMO – BERGAMO ACQUISITIONS – NEW OUT
We started watching BGMO last week when it ran from $.30 to over $1. Well after the market closed today they released some major news! We think that this could take off again in the morning.
LAS VEGAS–(BUSINESS WIRE)–Bergamo Acquisition Corp. (OTC Pink Sheets: BGMO – News) announced today a $100 million USD financing to be funded through The Bank of India. Bergamo Acquisition Corp. will use the funding to finance domestic projects, although there are no limitations on the use of funds. The funding is a loan and is secured by Bergamo’s common stock at a price of $1.00 per share. Additional tranches are available at between $2 and $4 per share at the discretion of Bergamo Acquisition Corp. Bergamo intends to repay the loan within twelve months. Domestic projects have already been identified and secured for the use of these funds, and those projects will be announced shortly. Bergamo will be drawing down the first $10 million USD this week. In advance of the first tranche, Bergamo is required to guarantee the commission to the agency that arranged the transaction. The language of the standby letter of credit has now been approved for the first $10 million, USD. Bergamo will be required to draw down the full $100 million USD within 31 days.
Hillard Herzog, President and CEO of Bergamo, commented, “I am very pleased that we can get started with these additional projects. I do want to mention that the initial funds will also be used to make Bergamo more transparent. We will start the process to make Bergamo Acquisition Corp a fully reporting Company and move to the OTC Bulletin Board or higher.”
This funding is separate and apart from the Pakistani Energy projects which were announced last week with the $1 billion USD equity investment. Speaking about those projects, Bergamo Executive Vice President and Director, Sohail Parekh, said, “I am excited with the speedy progress of our energy projects and the encouragement by the global financial markets in order to bring this mega project to attainment, which will improve the standard of living for Pakistan and its people.”
Another use of funds will be the buy-back of 5,162,158 free trading shares. Full details of this transaction will be released shortly.
Certain statements contained in this document may constitute “forward-looking statements.” When used in this document, the words “may,” “would,” “could,” “will,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “expect,” “investigate,” “looking at” as they relate to Bergamo Acquisition Corp. or its management, are intended to identify forward-looking statements or information. Such forward-looking statements include, among others, the expectations or claims, as applicable, that: (i) Bergamo E&A will successfully develop power projects in Pakistan. Such statements or information reflect Bergamo E&A’s current views with respect to future events and are subject to certain risks, uncertainties and assumptions. Forward-looking statements and information are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Many factors could cause Bergamo E&A’s actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements or information, including among other things, those risk factors which are discussed elsewhere in documents that Bergamo E&A files from time to time with securities regulatory authorities. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements or information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Bergamo Acquisition Corp. expressly disclaims any intention or obligation to update or revise any forward-looking statements and information whether as a result of new information, future events or otherwise. All written and oral forward-looking statements and information attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements.
Bergamo Acquisition Corp.
Hillard Herzog, President & CEO, 702-269-0820
Quarterback Investor Relations
John Pentony, President, 469-252-3030
The Eversull Group, Inc.
Jack Eversull, President, 972-378-7917