City Capital Corporation Contracts Legal Outsourcing Group LLC
LAS VEGAS, Feb. 28, 2012 /PRNewswire/ -- City Capital Corporation (Pinksheets: CTCC) announces that it has retained the services of Legal Outsourcing Group LLC. With combined management experience of over 40 years in the areas of financial restructuring and workouts, Legal Outsourcing Group LLC will separate and address the old liabilities and contingencies of City Capital Corporation, so that new management can focus on the further development of our newly expanded subsidiary Strategic Energy and Power. STEP is a Nevada-based subsidiary that designs, manufactures, distributes and installs commercial solar power generating installations and commercial LED lighting systems, using its patented and licensed technologies.
The company is particularly enthused about this new business relationship. By contracting with LOG, the company will continue to separate the past from the future. When the new team took over management of CTCC last November, it was faced with legacy claims from old investors and stockholders regarding troubles with the prior management team. "We are very confident that this will be an effective and cost efficient way to reduce or eliminate a significant portion of the old liabilities, and create a strong platform for future growth of our STEP subsidiary," stated company CEO Donald MacIntyre. "Additional information regarding this agreement will be posted on a new (to be established) company web site shortly."
With distribution and installation agreements already in place, the company offers solar and LED installation for both residential and commercial applications around the country. Talks are up-coming with several Native American entities for systems to meet their needs, and plans are underway to bid competitively for governmental contracts.
Safe Harbor Statement- This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual or future results may differ materially from those anticipated depending on a variety of factors, including continued maintenance of favorable license arrangements, success of market research identifying new product opportunities, successful introduction of new products, continued product innovations, sales and earnings growth, ability to attract and retain key personnel, and general economic conditions affecting consumer spending. Readers are cautioned not o place undue reliance on these forward-looking statements, which speak only as of the date hereof. City Capital Corporation, does not intent to update any of the forward-looking statements after the date of this release to conform these statement to actual results or to changes in its expectation, except as may be required by law.
Ten Associates LLC.
Legal issues contact:
Legal Outsourcing Group 800.651.9313
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