Bergamo Acquisition Corp. (OTCPK:BGMO) announced today that last week, at a meeting held between Hillard Herzog, President of Bergamo Acquisition Corp., and Bergamo’s management global team in Singapore, a decision was made to release the following information as a result of Mr. Herzog’s travels and the work of the entire Bergamo management team. The Company is now in a position to disclose that it has formed Bergamo Acquisition Corp. Pte Ltd in Singapore with its banking arrangement made through DBS Bank Singapore.
The company is also pleased to announce that it has concluded its entry into two investment programs, both of which will begin to disperse funds during the month of January, 2011. BGMO can now further disclose the projected income to be derived from Bergamo’s investment programs to total $36,750,000 USD in January, and $49,000,000 USD in February, March and April, each month respectively, with a total $183,500,000 USD.
Mr. Herzog stated, "The disbursements of these funds will enable Bergamo to move forward with funding as announced in earlier news. As a result of our previous negotiations and announcements, we will have discussions with our program partners and will disclose those funds which will be made available to them from January, 2011 through April, 2011."
Contracts and agreements with banks have been concluded and no further arrangement will have to be made in order to solidify the above. The Company will be producing a financial statement consistent with its year-end January 31, 2011 which will reflect the above mentioned information and a disclosure in its statement of the source funding and its income together with a disclosure of prior acquisitions announcements and the necessary funding to be made available.
In the coming days, BGMO will update investors on at least two additional contracts already executed with respect to the hybrid solar thermal power plant projects mentioned in the Company’s November 2, 2010 press release. That update should come right after the first of the year.
Safe Harbour Statement: This press release contains forward-looking statements that involve risks and uncertainties. Actual results, events and performances could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause the Company's actual results, expressed or implied, to differ materially from expected results. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making an investment decision.