Message #8 From:
Stock News Bot Date: October 6, 2006 06:45:00 AM
NVMG News Native American Energy Group, Inc. Announces Insider Share Lockup
FOREST HILLS, N.Y.--(BUSINESS WIRE)--Native American Energy Group, Inc. (the "Company" or "NAEG") (OTC Pink
Sheets: NVMG) announced today the execution of Share Lockup Agreements
for all of its Control Shareholders, Officers, Directors and Management
Team.
The lockup agreements prevent each officer and director from selling any
amount of their shares of NAEG stock for a period of 18 months.
Presently, these shareholders combined own an aggregate of 895,000,000
shares of Native American Energy Group stock, representing approximately
73.1% of the current issued and outstanding shares.
Chief Financial Officer Raj Nanvaan of NAEG, stated, "We are encouraged
by our recent growth and acquisitions and we, as management, are proud
to have the opportunity to demonstrate our commitment and confidence in
the Company's continuing growth by entering into a voluntary share
lockup agreement. It is our responsibility, as the Management Team, to
promote pride in ownership and be accountable to the shareholders for
the Company's success. Native American Energy is committed to its
expansion plan and enhancing its acquisitions, and to the further
development of our oil & gas and renewable energy projects."
The Company also announced today, NAEG’s IR
Department has contacted Pink Sheets in order to correct any
deficiencies and remove any unrelated items from the Company Profile on
their website. Pinks Sheets will have these updates implemented and
effective on their website within two business days, and has sent these
changes to each email contact Pink Sheets has listed in its database. In
an effort to keep the public aware of the Company’s
financial activities, NAEG wishes to inform stockholders and the
investing public that there are no dramatic changes planned that would
affect the current outstanding share structure. The recent forward split
of the company’s common stock bringing the
outstanding share count to 1,224,542,418 has served to increase
liquidity, giving the public greater opportunity, as the Company
continues to document its progress. Shareholders are reminded that ALL
corporate updates will be made solely through official press releases as
and when they become available.
Safe Harbor Statement: This News Release may include
forward-looking statements within the meaning of section 27A of the
United States Securities Act of 1933, as amended, and section 21E of the
United States Securities & Exchange Act of 1934, as amended, with
respect to corporate objectives, projections, estimates, operations,
acquisition and development of various interests and certain other
matters. These statements are made under the "Safe Harbor" provisions of
the United States Private Securities Litigation Reform Act of 1995 and
involve risks and uncertainties which could cause actual results to
differ materially from those in the forward-looking statements contained
herein.
