China Entertainment Group, Inc. Completes Merger With Homeland Security and Emergency Preparedness Company and Announces Name Change
ANNAPOLIS, MD--(Marketwire - July 30, 2010) - China Entertainment Group, Inc. (renamed Safe and Secure TV Channel Inc.) (PINKSHEETS: CGRP), today announced that it completed its merger with Safe and Secure TV Channel, LLC (the "LLC"), the premier internet broadband television network devoted exclusively to homeland security and emergency preparedness. The transaction closed on July 22, 2010, with the merger of the LLC into the Company. The Company issued 35,245,642 shares of restricted common stock to the LLC's three members in connection with the merger, representing just over 50% of the Company's common stock after giving effect to post-merger transaction adjustments, including share cancellations by a principal stockholder. The shares were issued pursuant to the registration exemption provided Rule 506 of Regulation D.
July 31, 2010 | Filed Under
Mergers and Acquisitions
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