June 23, 2009
Fuego Enterprises, Inc. Announces Name
Change to Define Its Expanded Role in Non-media Business Activities
MIAMI, June 23, 2009 (GLOBE NEWSWIRE) -- Fuego Enterprises, Inc.,
(OTCBB:FUGI) today announces that effective June 9, 2009, it completed a
name and symbol change. The company was previously Fuego Entertainment,
Inc. trading under the symbol FUGO. On April 17, 2009, a majority of the
shareholders of Fuego Entertainment, Inc. voted by written consent to
change the name of the company to "Fuego Enterprises, Inc." The Company
decided to change its legal name to Fuego Enterprises, Inc. to better
define its role in non-media business activities.
About two months ago the Obama administration appeared to open the door
for negotiations toward a new relationship between the United States and
Cuba by lifting restrictions against unlimited travel to all
Cuban-Americans and money transfers by Cuban-Americans to family in Cuba.
The administration is expected to begin issuing licenses that allow
telecommunications and other related businesses to provide cellular,
satellite, and television services to people on the island.
While American companies and investors are currently prohibited from
direct business dealings in Cuba, we are now ready to act once all
Cuba/America restrictions are lifted. For now, travel-related services to
Cuba, media and entertainment, and telecommunications sectors are
industries that we are exploring avenues to become actively involved.
About Fuego Enterprises, Inc.:
Fuego Enterprises, Inc. is a diversified holdings company with
operations in media and entertainment, telecommunications, and other
industries currently under development. Fuego Enterprises is based in the
U.S. with a focus on Latin markets and the potential to enter trade with
Cuba once restrictions are lifted. For more information, please visit
Fuego Enterprises at
www.fuegoentertainment.net
This press release contains statements, which may constitute
forward-looking statements within the meaning of the Securities Act of
1933 and the Securities Exchange Act of 1934, as amended by the Private
Securities Litigation Reform Act of 1995. Those statements include
statements regarding the intent, belief or current expectations of Fuego
Enterprises, Inc., members of their management, and assumptions on which
such statements are based. Prospective investors are cautioned that any
such forward-looking statements are not guarantees of future performance
and involve risks and uncertainties, and that actual results may differ
materially from those contemplated by such forward-looking statements.
