(Source: MARKETWIRE)
Casino Management of America (PINKSHEETS: CGMA) today announced that
effective immediately, it has changed its name to Crosslands Energy
Corp. (Crosslands). Its common stock has been assigned the new
trading symbol (PINKSHEETS: CRDY) with CUSIP 22766J106. The name
change was approved by the Company's Board of Directors on October
13, 2009 pursuant to majority consent of its shareholders. The stock
certificates held by current shareholders do not need to be changed to
reflect the name change.
In addition, Crosslands expects to sell all of its casino
management-related assets, both tangible and intangible to a
privately-held Florida company in the next few weeks. The proposed
purchase price for these assets is a minority stake in the
purchaser's company. Crossland anticipates that it will dividend the
shares received in this transaction to its shareholders to complete
its divestment of the casino management business.
David Hayslip, President of Crosslands, said, "We believe that the
new name for the corporation will reflect the direction we intend to
take the company and we are truly excited about the future of the
company."
About Crosslands
Crosslands, headquartered in Ft. Worth, Texas, develops, markets and
services its proprietary line of intelligent optical probes and
related products to major electric utilities. Crosslands' products are
an integral component of the emerging "Smart Grid" system being
developed in the United States and abroad. An "electricity grid" is
an aggregate of multiple networks and multiple power generation
companies with multiple operators employing varying levels of
communication and coordination, most of which are manually
controlled. Smart grids increase the connectivity, automation and
coordination between these suppliers, consumers and networks thus
utilizing the utility more efficiently and reducing costs.
Crosslands' probes were designed to be compatible with both handheld
and laptop computers for programming and reading electric meters.
These series of probes, well-received by the utility industry, have
established Crosslands as a leading, quality manufacturer of high
technology devices. The company also distributes related products
used by utilities worldwide to collect and optimize the monitoring of
their customers' power usage data.
This press release includes certain forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
Such forward-looking statements include, but are not limited to,
statements regarding our current business plans, strategies and
objectives that involve risks and uncertainties that could cause
actual results to differ materially from anticipated results. The
forward-looking statements are based on our current expectations and
what we believe are reasonable assumptions; however, our actual
performance, results and achievements could differ materially from
those expressed in, or implied by, these forward-looking statements.
Factors, within and beyond our control, that could cause or
contribute to such differences include, among others, the following:
we have a history of losses and an accumulated deficit, expect losses
to continue for the foreseeable future and are subject to risks. We
don't anticipate updating any such statements.
Contact:
David Hayslip (President)
(877) 264-4200
E-mail: Email Contact
SOURCE: Crosslands Energy Corp.
A service of YellowBrix, Inc.
