WEST PALM BEACH, FL -- (Marketwired) -- Alliance Media Group Holdings, Inc. (OTCQB: ALLM) (the "Company"). The Company announced today that the Board of Directors, in an unanimous vote, elected to focus the Company's resources and future business on its renewable energy holdings and other energy technologies by divesting the Company of its entertainment holdings through asset sales, closing of certain entertainment subsidiaries and discontinuing of certain entertainment businesses.
In a statement from Company Chairman and CEO, Daniel de Liege, "At the end of the day we are now a Renewable Energy and Emerging Energy Technology Company and this allows us to focus all of our resources and personnel in those pursuits."
The Company is wasting no time in implementing its new focus and is actively looking for locations to house its new research facility and its scientific team helmed by Dr. Richard Blair (CTS? inventor) and Dr. Peter Cohen.
Wholly owned subsidiary AMG Renewables, under the direction of CEO Joe McNaney, will continue to work with its previously announced development partner to finalize the commercialization of the patented CTS? process and intends to build the Company's first plant in 2015, while the new research facility works on alternate pathways to the CTS? process and explores other renewable energy and emerging technologies.
About ALLM :
Alliance Media Group Holdings, Inc. (OTCQB: ALLM) is a Florida based public holding company focusing on investments in renewable energy and emerging technologies while staying flexible enough to take advantage of new energy and technology trends. Alliance Media Group Holdings, Inc (or "AMG") currently operates wholly owned subsidiary AMG Renewables, LLC., which is focusing on the "Green Energy" sector and controls licenses and patents for several revolutionary bio-fuel and fine chemical technologies. AMG Renewables management team and Board of Advisors is made up of highly experienced professionals from the bio-fuels, petroleum and bioscience industries.
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