Item 8.01 - Other Events.
CGE Energy, Inc. (the "Company") issued a press release, dated
December 16, 2014 entitled-"McKenzie Bay Intl and CGE Energy Sign
Definitive Merger Agreement".
The press release is in its entirety below:
McKenzie Bay Intl and CGE Energy Sign Definitive Merger Agreement
BRIGHTON, MI, Dec. 16 /PRNewswire/ - McKenzie Bay International Ltd
(OTC-PINK: MKBY) and Clean Green Energy LLC (doing business as CGE
Energy, hereinafter "CGE") today announced that the companies have
signed a definitive agreement to merge. This finalized deal follows
the companies' Letter of Intent signed in October.
"I am very pleased with the final deal we have structured. I have
always viewed this merger as in the best interests of the shareholders
of both CGE and MKBY," said Kevin Cook, current MKBY President, "As we
begin the next chapter, the combined entity will have a much stronger
market presence than either company could achieve on its own."
"We are thrilled to have this public platform to change the world.
It's time for everyone to see our vision for a sustainable future,"
said Bryan Zaplitny, current CGE President, "We will be good stewards
with what has been entrusted to us."
The companies said they expect their merger will be completed in two
phases within the next 90 days. By January 31 the companies will
functionally merge, with CGE being acquired by MKBY. A new leadership
board will be enacted, with Bryan Zaplitny assuming the role of
President/CEO.
The second phase will be completed by February 28, with the 1-for-25
reverse stock split and name change happening at this time.
Additionally, the authorized limit of MKBY shares will be reduced from
the current 300 million to 90 million shares.
Further information on the merger phases and details can be found at:
www.mckenziebay.com.
About McKenzie Bay International:
McKenzie Bay is an energy technology holding company focused on the
acquisition of exclusive rights to renewable energy technologies and
is looking to acquire. www.mckenziebay.com
About CGE Energy
CGE Energy (formerly known as Clean Green Energy LLC) is an energy
solutions provider headquartered in Brighton, Michigan. For more than
20 years, the company has provided energy optimization services and is
now offering Power Purchase Agreements. Today the company serves
customers in the U.S. and abroad, using energy efficient technologies
that include Cree LED lighting and wind and solar generation. Visit
our brand new website, http://www.cgeenergy.com
Certain statements made in this release constitute forward-looking
statements and do not guarantee future performance. Actual results or
developments may differ materially from the projections in the
forward-looking statements.
Source: CGE Energy, Inc.