Source Financial, Inc. (OTCQX: SRCF) this morning issued an update on its planned merger with CSES Group, Inc., which was originally announced on January 31, 2017. Per today’s news release, the merger is “moving forward as planned,” with the company having filed a definitive information statement with the SEC on March 1, 2017. As a result, management anticipates that the merger will be completed on or before March 31, 2017. A corporate name change to Alltemp, Inc. and a related ticker symbol change is expected to occur concurrently with the merger. “This is a very exciting time for our company, as we have started to receive orders for our new environmentally-friendly refrigerant from Fortune 500 companies,” William Lopshire, CEO of CSES Group, stated in this morning’s news release. “While the initial orders are small, we’re confident that our product will continue to perform extremely well and we’ll start to see a large uptick in order volume as these companies roll out the product across their worldwide locations.”
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About CSES Group, Inc.
CSES Group has developed a proprietary refrigerant technology after years of research and development called alltemp®. alltemp® is a proven replacement for many worldwide refrigerants that have detrimentally affected the global environment. CSES Group’s alltemp® refrigerants are environmentally friendly, sustainable, and cost-efficient energy solutions for the residential and commercial marketplace. alltemp® refrigerants have broad applications ranging from Heating Ventilation and Air Conditioning (“HVAC”) to refrigeration, and foam insulation to industrial solvents. alltemp® is the ideal solution for replacement of HCFC-22, better known as R-22, which is the world’s most commonly used refrigerant, R-410a, R-134a, and R-404a. R-22 is rapidly being phased out in all developed countries due to environmental concerns over its strong effect on the depletion of the Earth’s ozone layer. For further information, please go to www.alltempsolutions.net.
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