Business
Poverty Dignified Assembles New Team to Lead Restructuring and Recapitalization
Poverty Dignified Assembles New Team to Lead Restructuring and Recapitalization.
About this update from Virexit Technologies Inc.
[{"type":"text","content":"HURST, TX – June 28, 2018 – Poverty Dignified, Inc. (OTCQB: PVDG) (“Poverty Dignified” or the “Company”), a renewable energy company, incubating solar technologies to establish electrification, education, connectivity and media distribution infrastructures in rural communities across the globe to empower the individual, community and local economy, today announced that the Management of Poverty Dignified has assembled a new team to lead the restructuring and recapitalization of the company’s continued expansion into Africa.With a new leadership team now in place, plans are being initialized to redirect the operational focus away from the former electrification model of 20 to 100 homes at a time, in favor of building a more robust infrastructure to provide “community-wide” solar and “community-wide” internet connectivity with an expanded capacity to power thousands of homes at a time.New plans call for recapitalization from private investors, once obtained, this new cash infusion will enable the installation of a 9.9-Megawatt solar park to electrify a major informal settlement in South Africa. According to Kevin Lowther, CEO of Poverty Dignified, who stated “this new direction and recapitalization will accelerate the growth of the Company and ensure the operational capacity to promote a redefined and strategic expansion on a much greater scale”. He declined further comment awaiting a major announcement in late July or early August to discuss in detail the Company’s strategic refocus and proposed acquisitions.Safe Harbor StatementThe statements contained in this corporate presentation include forward-looking statements within the meaning of Section27A of the Securities Act of 1933, as amended, and Section21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act, including, without limitation, statements regarding management’s expectations, hopes, beliefs, intentions or strategies regarding the future. The words believe, may, will, estimate, continue, anticipate, intend, expect, plan and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this corporate presentation are based on our current experience, expectations and beliefs concerning future developments and their potential ...