ONTC News Onteco Corporation, ONTC, Provides Up

MIAMI, Oct. 18, 2012 /PRNewswire/ -- Onteco Corporation (OTC.QB: "ONTC"), (the "Company", or "Onteco"), announced today that it had filed the Information Statement with the Securities and Exchange Commission ("SEC") under Section 14(c) of the Securities Exchange Act of 1934, as amended, per the Edgar system as a result of clearing all SEC comments regarding the spin-off of its wholly-owned subsidiary, NexPhase Lighting, Inc., ("NexPhase") (the "Spin-Off).

As a consequence, the mailing of the Information Statement to the Company's shareholders of record of October 14, 2012, therefore, will occur proximately on October 19, 2012, and the issuance of shares of common stock of NexPhase to Onteco's shareholders of this record date will occur on or about November 15, 2012.

As previously stated, it is further contemplated that the shares of common stock of NexPhase to be distributed in the spin-off will be registered with the SEC with the result that a market will be created for trading of NexPhase shares and NexPhase will become a fully reporting company In addition, the Company had previously announced that the number of NexPhase shares to be issued to the Company shareholders on a pro-rata basis in accordance with their record holdings will be one share of NexPhase for every 200 shares of Onteco common stock held as of the record date, with fractional shares rounded up to the next nearest share.