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nrj · 06-12-2005, 14:18

Barnabus Energy Moves to Acquire 100% of Affiliates -- Company Announces New Director
TUESDAY, DECEMBER 06, 2005 9:00 AM
- Market Wire

SOLANA BEACH, CA, Dec 06, 2005 (MARKET WIRE via COMTEX) -- Barnabus Energy, Inc. (BBSE) announced today that the Board of Directors has authorized management to proceed with negotiations towards the purchase of 100% of both Solar Roofing Systems and Connect Renewable Energy, Inc., and to roll these into one company under the Barnabus banner. Company President David Saltman stated, "This event will provide tremendous manufacturing, marketing and sales synergies to our company, as well as a depth of management and technical expertise that will rival any of our competitors." A term sheet with Connect has already been signed, and the SRS shareholders have agreed to proceed with the acquisition.

In a related event, Ron Gangemi, founder of Connect, was named to the Barnabus Board of Directors. Mr. Gangemi has a strong track record in founding leading edge technology companies, and in taking them public. He is the former chairman of Pulse Energy Systems, which led the market in balance of system (BOS) equipment for solar photovoltaic installations. Prior to this, Gangemi was CEO of TriMed. He holds Mechanical and Biomedical Engineering degrees from the Rochester Institute of Technology, and attended the UCLA School of Business.

ABOUT THE COMPANY

Barnabus Energy, Inc. (BBSE) is committed to the development of a diversified energy project portfolio. The Company is currently acquiring commercially viable projects in both conventional and renewable energy sectors. Management has closely aligned itself with key strategic partnerships that will move the Company forward towards future acquisitions and growth. The company's model is a focused approach to the exploitation of targeted, low-risk development opportunities.

Safe Harbor for Forward-Looking Statements:

Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Barnabus Energy, Inc. has little or no control.

ON BEHALF OF THE BOARD

Barnabus Energy, Inc.

David Saltman, President

Investor Relations Contact:
Brad Long
1-800-250-2610
Visit our website at www.barnabusenergy.com

SOURCE: Barnabus Energy, Inc.

http://www.barnabusenergy.com

Copyright 2005 Market Wire, All rights reserved.

06-12-2005, 14:18	#104
nrj TBB Goldmember Registriert seit: Dec 2004 Beiträge: 641	Barnabus Energy Moves to Acquire 100% of Affiliates Barnabus Energy Moves to Acquire 100% of Affiliates -- Company Announces New Director TUESDAY, DECEMBER 06, 2005 9:00 AM - Market Wire SOLANA BEACH, CA, Dec 06, 2005 (MARKET WIRE via COMTEX) -- Barnabus Energy, Inc. (BBSE) announced today that the Board of Directors has authorized management to proceed with negotiations towards the purchase of 100% of both Solar Roofing Systems and Connect Renewable Energy, Inc., and to roll these into one company under the Barnabus banner. Company President David Saltman stated, "This event will provide tremendous manufacturing, marketing and sales synergies to our company, as well as a depth of management and technical expertise that will rival any of our competitors." A term sheet with Connect has already been signed, and the SRS shareholders have agreed to proceed with the acquisition. In a related event, Ron Gangemi, founder of Connect, was named to the Barnabus Board of Directors. Mr. Gangemi has a strong track record in founding leading edge technology companies, and in taking them public. He is the former chairman of Pulse Energy Systems, which led the market in balance of system (BOS) equipment for solar photovoltaic installations. Prior to this, Gangemi was CEO of TriMed. He holds Mechanical and Biomedical Engineering degrees from the Rochester Institute of Technology, and attended the UCLA School of Business. ABOUT THE COMPANY Barnabus Energy, Inc. (BBSE) is committed to the development of a diversified energy project portfolio. The Company is currently acquiring commercially viable projects in both conventional and renewable energy sectors. Management has closely aligned itself with key strategic partnerships that will move the Company forward towards future acquisitions and growth. The company's model is a focused approach to the exploitation of targeted, low-risk development opportunities. Safe Harbor for Forward-Looking Statements: Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Barnabus Energy, Inc. has little or no control. ON BEHALF OF THE BOARD Barnabus Energy, Inc. David Saltman, President Investor Relations Contact: Brad Long 1-800-250-2610 Visit our website at www.barnabusenergy.com SOURCE: Barnabus Energy, Inc. http://www.barnabusenergy.com Copyright 2005 Market Wire, All rights reserved.