Bergamo Acquisition Corp (OTC: BGMO) announced today that its wholly owned subsidiary, Bergamo Acquisition Corp PTE, Ltd., received a 400 million euros cash backed, transferable, irrevocable, unconditional, assignable, without protest or notification operative bank guarantee.
The bank guarantee is drawn to the order of Bergamo Acquisition Corp PTE, Ltd. This instrument was received with the Transaction Code: IEACSINO/E400M/BG/GSPDBS/111222, and was issued by GSP-Banco Fomento Mercantil Ltda, http://www.gspbanco.com.br/.
The Financial Project Development Joint Venture agreement hereby confirms with full legal authority and responsibility that it has the financial resources required in good, clean, clear, unencumbered assets in the form of an irrevocable and operative bank guarantee confirmation, in the total amount of (Four Hundred Million Euros Only) with the Beneficiary Name: BERGAMO ACQUISITION CORP PTE. LTD. This instrument is not a leased document, balance sheet enhancement document or contains any blocked funds restrictions. http://bergamoenergy.com/bank-guarantee/
Parties hereto have entered into this agreement to pursue financial investment opportunities available with selected programs, and plan to use the proceeds for such additional investment opportunities in energy projects, investment banking, etc.
This agreement shall continue for a period of one year and one day. The agreement, executed by both parties, constitute a fully responsible, ready, willing and able agreement to be enacted as described herein by both parties to satisfy their mutual obligations and undertakings under the master contract. Generated funds refer to all the emissions and proceeds generated by a line of credit raised against the assigned asset of: EURO 400,000,000.00 MILLION.
Bergamo Acquisition Corp PTE, Ltd. has received an additional bank guarantee for 300 million euros via a preadvice. The company is now in the process of evaluating this guarantee.
The company is reviewing its various financial opportunities with regard to these bank guarantees and the use of these funds, and will shortly announce the application of the monies received and its use.
The above announcement is in continuation of the BIG BIZ radio interview that was held on Dec 21, 2011 from Singapore. A YouTube Link to the BIG BIZ Show is available at http://bergamoenergy.com/press-release/ or visit http://bergamoenergy.com/solar-pump/.
Safe Harbor 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.