ST. CLOUD, FL -- (Marketwire) -- 11/06/12 -- RenuEn Corporation (PINKSHEETS: RENU), a Power Project Development company, announces the retirement of 301,856,000 shares of common stock that were previously held by the former CEO James Scott. The stock has been returned to the company and will go into Treasury.
Don Wood, CEO of RenuEn, states: "James has graciously returned his shares as he felt that since he was not going to be responsible for the future growth prospects of the company, he couldn't in good conscious keep his stock."
Mr. Wood further states, "I am adamantly focused on the corporate structure of RENU and will continue to keep ensuring the shareholders are properly positioned in our company. James' voluntary relinquishment goes a very long way in achieving this goal. Now that we are moving the St. Cloud Project rapidly forward we can set our sights on releasing the financials."
About RenuEn Corporation
RenuEn Corporation is a Power Project Development company. The company focuses on Landfill Compressed Natural Gas capture and International Renewable Power projects.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contact and Inquiries for Investor Relations:
Paramount Advisors, LLC
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