FT. WORTH, TX, Nov 06 (MARKET WIRE) --
Casino Management of America (PINKSHEETS: CGMA) today announced that
effective immediately it has changed its name to Crosslands Energy Corp.
(Crosslands), and has been assigned the new trading symbol of CRDY by
FINRA. Crosslands is headquartered in Ft. Worth, Texas and develops,
markets and services its proprietary, intelligent optical probes and
related products to major electric utilities.
The name change was approved by the Company's Board of Directors on
October 13, 2009 and by majority consent in lieu of a Shareholder
Meeting. In addition, Crosslands expects to sell all its casino
management related assets, both tangible and intangible, to a privately
held Florida company in the next few weeks. The proposed purchase price
for these assets is a minority stake in the purchaser's company.
Crosslands anticipates that it will dividend the shares received in this
transaction to its shareholders to complete its divestment of the casino
management business.
Crosslands' products, incorporating its proprietary technology, are an
integral component of the emerging "Smart Grid" system being developed in
the United States and abroad. An "electricity grid" is an aggregate of
multiple networks and multiple power generation companies with multiple
operators employing varying levels of communication and coordination, most
of which are manually controlled. Smart grids increase the connectivity,
automation and coordination between these suppliers, consumers and
networks thus utilizing the utility more efficiently and reducing costs.
David Hayslip, President of Crosslands, said, "We believe that the new
name for the corporation will reflect the direction we intend to take the
company and we are truly excited about the future of the company."
About Crosslands
Crosslands' probes were designed to be compatible with both handheld and
laptop computers for programming and reading electric meters. These series
of probes, well-received by the utility industry, have established
Crosslands as a leading, quality manufacturer of high technology devices.
The company also distributes related products used by utilities worldwide
to collect and optimize the monitoring of their customers' power usage
data.
This press release includes certain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. Such
forward-looking statements include, but are not limited to, statements
regarding our current business plans, strategies and objectives that
involve risks and uncertainties that could cause actual results to differ
materially from anticipated results. The forward-looking statements are
based on our current expectations and what we believe are reasonable
assumptions; however, our actual performance, results and achievements
could differ materially from those expressed in, or implied by, these
forward-looking statements. Factors, within and beyond our control, that
could cause or contribute to such differences include, among others, the
following: we have a history of losses and an accumulated deficit, expect
losses to continue for the foreseeable future and are subject to risks. We
don't anticipate updating any such statements.
Contact:
David Hayslip (President)
(877) 264-4200
E-mail: Email Contact
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