Date: June 8, 2009
Source: Waste2Energy, Inc.
Waste2Energy, Inc. Completes Reverse-Merger with Maven Media Holdings, Inc.
Maven Media Holdings, Inc. (the "Company") (MVMH.OB) announced today that it has completed a reverse-merger with Waste2Energy, Inc. The Company is in the process of changing its name to Waste2Energy Holdings, Inc., at which time the Company will also receive a new trading symbol. The Company has filed an 8-K disclosing this on June 3, 2009.
Waste2Energy shareholders were issued 45,981,770 shares of the Company's common stock which represents approximately 96% of the issued and outstanding shares. On May 26, 2009, the Company sold 254,500 units in a private placement. Each unit consists of three shares of common stock and a three-year warrant to purchase three additional shares at an exercise price of $1.25 per share. The Company received gross proceeds of approximately $509,000.
Waste2Energy designs, builds and installs waste-to-energy plants that generate "Renewable Green Power," converting biomass or other solid waste streams traditionally destined for landfill into clean renewable energy. W2e™ plants are scalable, modular, environment friendly and robust enough to operate in remote environments. W2e™ provides customized engineering solutions that will enable its customers to convert biomass and other solid waste streams traditionally destined for landfill into clean renewable energy. For more information on Waste2Energy, please visit www.waste2energy.com.
Safe Harbor Statement
Under the Private Securities Litigation Act of 1995 – This press release discusses forward-looking statements with risks and uncertainties. MVMH results could differ materially due to various factors, including inability to finance operations or expansion and hire or retain personnel, economy and interest rate changes, and events such as terrorism. MVMH believes statements to be reasonable, but neither MVMH nor any other person can represent they will be achieved. MVMH is not obligated to update statements due to new information, events or otherwise. Please see the risk factors associated with our Company and review our SEC filings.