Salt Lake City, Utah--(Newsfile Corp. - October 5, 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 50% of the Capital shares of FMF GROUP SRL, an Italian real estate project financing and development corporation based in Reggio Emilia, Italy. FMF Group has been financing and developing real estate renovation projects in North Italy since 2007. FMF operates as a general contractor with the support and the technical assistance of its team of 15 architects and civil engineers and supervised by its President Ing. Alessandro Pepe, https://fmf-group.it/.
During the first 2 quarters of 2022 the Company has subscribed renovation and construction contracts for over $12,000,000. FMF projects that with the financial support of GEGR and its partners, it has the opportunity to acquire an additional $13,000,000 in new contracts. This new investment will give the opportunity to GEGR of consolidating and expanding its presence in the Italian and European real estate development, and can realize the benefits of the European markets facility which is currently granting financing with public grants programs going from 70% to 110% of the real estate renovation costs. The Company has realized the sale of several assets to an investment European Group for its third quarter results and will providing additional information to the shareholders.
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.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/139581