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Premiere Opportunities Group, Inc. Signs Agreement With Flex Fuel Technologies, Inc. and Sets Definitive Date for Closing Its Merger With Global Products, Inc.(May 17, 2012)
TOTOWA, NJ -- (Marketwire) -- 05/17/12 -- Premiere Opportunities Group, Inc. (OTCQB: PPBL) (OTCBB: PPBL) (www.premiereopportunities.com) has signed an advisory agreement with Flex Fuel Technologies Inc. (www.flexfueltech.com) to assist the company with its strategic planning, EPA testing and budget planning for the future introduction of its products into the automotive aftermarket.
Flex Fuel Technologies, Inc., after several years of testing, has developed a " bolt on technology" that allows most four, six and eight cylinder cars to run on both E85 (ethanol) as well as gasoline at a fraction of the cost that a buyer would pay at the OEM/Dealer level for the flex fuel option on a new vehicle.
The product known as Flex Genie will begin its EPA testing in the mid-summer and expect to be completed with that testing by the end of 2012. If the results are as expected, Flex Fuel Technologies will begin the commercialization process of this breakthrough product immediately thereafter. It is expected that the Flex Genie will be priced at well under $1000, installed and be distributed in both retail stores as well as other distribution channels.
The Company will also assist Flex Fuel Technologies, Inc. with its other goal of becoming a public company and expects the Company to file its registration statement with the Securities and Exchange Commission this coming June.
The Company is also happy to announce that it has set May 29th as the definitive closing date for Premiere's merger with Global Products, Inc.
Upon the consummation of the merger with Global Premiere, shareholders will own shares not only in Global Products, Inc., but also retain shares in our other client companies, including but not limited to Luminx Holdings, Defense Technologies Corp., Flex Fuel Technologies Inc. and Trident Equity Advisors Inc., all of which will file separate registration statements with the Securities and Exchange Commission to become stand-alone public companies.
The Company looks forward to the future with great enthusiasm and expects it to be filled with opportunity for Premiere shareholders as the Company continues to make our reputation stronger by virtue of the services it delivers to our client companies and the value it creates for our shareholders.
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