Power Americas completes its restructuring and turns to
RANCHO SANTA MARGARITA, CA, Oct. 11, 2022 (GLOBE NEWSWIRE) — via NewMediaWire – Power Americas Resource Group Ltd. (the “Company” or “PARG”) (OTCMarkets: PARG), a publicly traded company, which fully captures emerging growth is pleased to have recently acquired various assets related to 3D/4D printing technology for use in the home building industry. In addition, the Company has appointed new officers and directors for the sole purpose of rapidly implementing its new business model.
On September 9, 2022, the Company acquired specific assets related to 3D/4D printing from an individual. A few days later, Mark Croskery was named the company’s new chief executive, chief financial officer, treasurer and director. Mr. Croskery has extensive experience in the financial industry, while other recent appointments to the company’s board or leadership have successfully developed other cutting-edge technologies.
“This news marks the start of a new chapter for the company, and we are extremely pleased to have been able to complete this acquisition, as we believe we are on the cusp of a truly groundbreaking moment in an industry that has been relatively static for decades.New 3D/4D printing technology and emerging techniques present unlimited growth potential in the home building industry.The early adoption and implementation of this exciting technology is expected to propel the expected growth of the company to the next level. The acquisition of these assets should allow us to build our own 3D/4D printer for use in the construction industry,” said Mr. Croskery, CEO of the company.
“Our goal is to develop our own printer that will allow us to build homes approximately 70% faster and at a much lower cost than traditional home building methods. We are in a position to lead our own future, we believe that “With hard work and dedication to this exciting technology, we can leave a significant and lasting mark on the construction industry,” Croskery concluded.
For additional information regarding the company’s acquisition of the aforementioned technology and information on the company’s newly appointed officers and directors, please see our supplemental disclosures filed on the OTC Disclosure & News service on September 13, 2022 and our report current on Form 8-K filed with the Securities & Exchange Commission on September 15, 2022.
Power Americas Resource Group Ltd. (PARG) has developed a 3D/4D printing technology for use in the construction industry, which will reduce the time and cost of housing construction. We print “green” homes without the use of harsh chemicals using our proprietary printing methods, proprietary concrete, and extensive knowledge of large-scale 3D and 4D printing processes. Our printer is a large format gantry COP printer with improved performance for printing building elements, structures on foundations with an area of 12 x 100 m and a height of up to 12 m. The printer can be expanded to include a pressure washer and a feed station for synchronized concrete mixes. We will use the latest and most revolutionary 3D/4D printing methods, including the use of new materials, such as graphene concrete additives, antibacterial coatings, micro-fittings and new construction technologies enabling us to make housing faster, better, more sustainable and more affordable even for developing countries. We plan to focus on “low-hanging fruit” where we have high-level relationships with decision makers, primarily focusing on North and Latin/Central America. We will initially focus only on securing contracts with approximately 25-75 print houses as we seek to validate our business model. Our vision is to create affordable and eco-friendly housing through the implementation of our 3D/4D printing model and process in the construction industry.
SAFE HARBOUR FORWARD-LOOKING STATEMENTS:
This press release may contain forward-looking statements based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual results and results to differ materially from those anticipated or expected, including statements relating the amount and timing of expected revenue related to our financial performance, expected revenue, contracts and future growth for the upcoming quarterly and annual periods. These risks and uncertainties are further defined in the Company’s filings and reports with the United States Securities and Exchange Commission (SEC) and on the OTC Disclosure & News Service (OTCDNS). Actual results and the timing of certain events could differ materially from those projected or contemplated by forward-looking statements due to a number of factors detailed from time to time in our filings with the SEC and/or OTCDNS. . Among other things, the Company may not be able to maintain its growth or achieve profitability due to numerous factors, including, but not limited to, the risk that we may not be able to find and obtain construction contracts and the necessary assets that will allow us to become profitable. Reference is hereby made to the cautionary statements set forth in the Company’s most recent filings with the SEC and/or OTCDNS. We have incurred and will continue to incur significant expenditures in our development phase, noting that there is no guarantee that we will generate enough revenue to offset these costs in the short and long term. New lines of business in the construction industry may expose us to additional legal and regulatory costs and one or more unknown exposures, the impact of which cannot be predicted at this time.
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