TGI Announces Official Dissolution of Shelly North Carolina (SNC) Acquisition

Rhea-AI Summary

TGI Solar Power Group (OTCMarkets:TSPG) announced on February 9, 2026 the formal dissolution of its previously announced agreement to acquire Shelly North Carolina, Inc., originally disclosed January 23, 2023. Following completion of requisite due diligence, TGI elected not to proceed and the two groups will remain separate.

The company confirmed the planned acquisition was never reflected as executed in TGI's financial statements and there will be no integration of operations or management.

Positive

• Dissolution formally announced on February 9, 2026
• Company confirmed the acquisition was never reflected in its financial statements

Negative

• Previously announced acquisition of Shelly North Carolina (January 23, 2023) will not proceed
• No integration of operations or management between TGI and Shelly North Carolina

News Market Reaction

-3.70%

1 alert

-3.70% News Effect

On the day this news was published, TSPG declined 3.70%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

MIAMI, FLORIDA / ACCESS Newswire / February 9, 2026 / TGI SOLAR POWER GROUP (OTCMarkets:TSPG) ("TGI"), a diversified technology and environmentally efficient real estate development company, hereby announces the dissolution of the previously announced agreement to acquire Shelly North Carolina, Inc. (January 23, 2023).

Following the completion of requisite due diligence reviews, TGI Solar Power elected not to proceed with the acquisition. Consequently, the two groups will remain separate entities with no integration of operations or management. This planned acquisition was never reflected as executed in TGI's financial statements.

About TGI Solar: TGI SOLAR POWER GROUP INC. is a diversified holding company. TGI's strategy is to acquire innovative and patented technologies, components, processes, designs, and methods with commercial value that provide a competitive market advantage and generate shareholder value.

Safe Harbor Statement: Statements contained herein that are not historical are forward-looking statements under the Private Securities Litigation Reform Act of 1995. These statements are subject to risks and uncertainties that could cause actual operating results to materially differ from those contained in the forward-looking statements. Such statements include, but are not limited to, certain delays beyond the company's control with respect to market conditions.

For more information:

Samuel Epstein
info@tgipower.com

SOURCE: TGI Solar Power Group, Inc.

View the original press release on ACCESS Newswire

FAQ

What did TSPG announce about the Shelly North Carolina acquisition on February 9, 2026?

TGI announced the formal dissolution of the previously announced Shelly North Carolina acquisition. According to the company, following due diligence TGI elected not to proceed and the entities will remain separate.

Was the Shelly North Carolina acquisition ever recorded in TSPG financial statements?

No, the planned acquisition was never reflected as executed in TGI's financial statements. According to the company, the deal did not close and no accounting integration occurred.

Why did TSPG decide not to proceed with the Shelly North Carolina deal?

TGI elected not to proceed after completing requisite due diligence reviews. According to the company, the due diligence outcome led to the decision to dissolve the acquisition agreement.

Will TSPG and Shelly North Carolina integrate operations after the dissolution?

No, the two groups will remain separate with no integration of operations or management. According to the company, there will be no operational or managerial consolidation.

When was the Shelly North Carolina acquisition originally announced relative to the dissolution?

The acquisition was originally announced on January 23, 2023 and dissolved on February 9, 2026. According to the company, the agreement was terminated following due diligence.