Salt Lake City, Utah--(Newsfile Corp. - October 18, 2022) - Gaensel Energy Group, Inc., (OTC Pink: GEGR) ("Gaensel" or the "Company"), a diversified holding company, announces a corporate update.
Gaensel Energy Group is pleased to announce the acquisition of 25% of CONSORZIO DEDALO and 33% of the Capital shares of SPI SPA, https://spisrl.eu/, an Italian real estate project financing and development corporation based in Milano, Italy.
The Consorzio Dedalo was formed as an organization for the coordination of real estate contractors and supplier companies engaged in construction and renovation for both private and public jobs. The Consorzio, due to his capitalization and structure, has become an entity which has obtained substantive real estate projects and contracts which is then distributed to its associates and partners. Gaensel Energy Group acquisition is based on its participation and coordination of the Consorzio activities and providing additional capitalization to the Consorzio. This capitalization will permit to the Group to access important European contracts and facilitate new contracts which are projected to increase the business up to over €700,000,000 before the end of 2023.
SPI Spa has been financing and developing real estate renovation projects in North Italy since 2009. SPI operates as a general contractor with the support and the technical assistance of its team of 22 employees from the operating headquarter of Reggio Emilia.
SPI, during the first 2 quarters of 2022, has entered into construction and renovation contracts exceeding $18,000,000. SPI SPA projects, with the financial support of Gaensel Energy Group and its partners, it has the opportunity to acquire an additional €29,000,000 in new contracts eligible for the European Grants financing program.
Gaensel Energy is currently reviewing a substantive offer for the sale of several assets to an investment European Group. The purpose of this sale is consolidating the number of entities in the Gaensel Energy Group and a reduction of operating and financing costs associated with number of assets/entities.
About Gaensel Energy Group, Inc. (OTC Pink: GEGR):
Gaensel Energy Group asset base currently consists of proven companies in Biotech, Commodities, Health, Beauty - Fashion, Green and Renewable Energy, and Technology. The management teams for each of these divisions are actively seeking similar partners in each space for expansion and additional acquisitions. We have been listed on the United States OTC Markets since 2002 and the Company is current.
Gaensel Energy Group, Inc.
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Forward-Looking statements
This document contains certain forward-looking statements with respect to the financial condition, results of operations and business of Gaensel Energy Group, Inc., (GEGR), and certain of the plans and objectives of GEGR with respect to these items. Examples of forward-looking statements include statements made about our strategy, estimates of sales growth, future EBITA and future developments in our organic business. Forward-looking statements can be identified generally as those containing words such as "anticipates", "assumes", "believes", "estimates", "expects", "should", "will", "will likely result", "forecast", "outlook", "projects", "may" or similar expressions. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.
These factors include, but are not limited to, domestic and global economic and business conditions, the successful implementation of our strategy and our ability to realize the benefits of this strategy, our ability to develop and market new products, changes in legislation, legal claims, changes in exchange and interest rates, changes in tax rates, pension costs and actuarial assumptions, raw materials and employee costs, our ability to identify and complete successful acquisitions and to integrate those acquisitions into our business, our ability to successfully exit certain businesses or restructure our operations, the rate of technological changes, political, economic and other developments in countries where GEGR operates, industry consolidation and competition. As a result, GEGR actual future results may differ materially from the plans, goals and expectations set forth in such forward-looking statements.
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