DALLAS, TX -- (Marketwire) -- 07/20/10 -- Savanna East Africa, Inc. (PINKSHEETS: NVAE) (OTCQB: NVAE) today announced a new website launch in conjunction with the Company's recent corporate name change. Savanna East Africa is a fully-reporting company with audited financial statements quoted on the new 'OTCQB.' The Company was formerly known as Nova Energy, Inc. Earlier this year, the Company announced an updated business plan to expand into developing a diverse range of high growth early stage business opportunities in East Africa.
In conjunction with Savanna East Africa's ongoing development of high growth early stage business opportunities in East Africa, the Company yesterday announced a NewMarket Technology, Inc. (PINKSHEETS: NWMT) (OTCQB: NWMT) Greenfield Summit meeting scheduled at the Savanna East Africa offices in Nairobi, Kenya this week. Savanna East Africa joined the Greenfield program earlier this year and the program has been an integral part of the Company's development. Participating in the summit meeting this week will be Savanna East Africa's Greenfield partners NuMobile, Inc. (OTCBB: NUBL) and China Crescent Enterprises, Inc. (OTCBB: CCTR), as well as NewMarket. Savanna East Africa has partnered with NuMobile, a mobile software and security provider, in the region to jointly pursue opportunities to include mobile cash and wireless utility support solutions. Savanna East Africa is working with China Crescent to offer high quality, affordable technology solutions sourced from China in the emerging market of East Africa.
Effective June 1st, 2010, trading symbols of over-the-counter quoted companies do not change in conjunction with a name change. Accordingly, Savanna East Africa's trading symbol remains unchanged and will continue as 'NVAE.' Management anticipates the new policy to not update trading symbols with corporate name changes to potentially create some temporary corporate identity confusion. It may take some weeks for the web-based financial systems to update their databases to reflect the new name with the old trading symbol.
Savanna East Africa Information and Email Newsletter
To learn more about Savanna East Africa and to sign up for company email alerts, please visit the newly launched corporate website at www.savannaea.com.
About Savanna East Africa, Inc. (www.savannaea.com)
Savanna East Africa, Inc. (NVAE), previously named Nova Energy, Inc., launched an updated corporate strategy early this year to pursue several business lines in the growing economy of East Africa, initially in Kenya. Nova has already begun several initiatives in the region to include initiatives in the Technology, Utility, Housing and Health products industries. The Company is also continuing to grow its existing oil and gas reclamation business with new management and business strategies.
'SAFE HARBOR STATEMENT' UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This press release contains forward-looking statements that involve risks and uncertainties. The statements in this release are forward-looking statements that are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to differ materially from results expressed or implied by forward-looking statements. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making investment decisions.
Savanna East Africa, Inc.