NW Tech Capital Inc, (NWTT.PK) has finalized the merger with Bermal Contracting Ltd., a BC Canada company.
Bermal Contracting Ltd. offers substantial revenues and a sizable operations, currently excavating patio stone (Horizontal & Stand up Veneer), ledge stone, stackable stone & corner stone, and boulder stone. All stone comes in a number of unique colors, variety of textures and shades, allowing landscapers to create individualized and customized designs.
Based on the Share Purchase Agreement (Pink Sheets filing July 30, 2010) NW Tech Capital has purchased Bermal Contracting Ltd. for six hundred million (600,000,000) shares of NWTT Common Stock.
This stock will be restricted, and subject to rule 144. Moreover NW Tech Capital has secured contractual assurances that Bermal Contracting must meet reasonable financial and business obligations and milestones set between the parties, satisfactory to NWTT board and in the best interest of NWTT shareholders.
In other company news and events, NW Tech Capital will complete a set of filings with OTC Markets appointing new officers/directors of Bermal to NWTT roster in conjunction with the merger.
Bermal Contracting Ltd. is a viable already operational business with substantial revenues assets operations and goodwill.
NW Tech Capital is in the process of updating its new web site and unveiling its future plans with its recent marriage to NWTT.
Cornell Companies, Inc. (NYSE:CRN) anticipates closing its merger with The GEO Group, Inc. on Thursday, August 12, 2010, following the special meetings of Cornell and GEO stockholders. The closing of the transaction remains subject to Cornell and GEO stockholder approval, as well as other customary closing conditions.
Under the terms of the definitive merger agreement, stockholders of Cornell have the option to elect to receive either (x) 1.3 shares of GEO common stock for each share of Cornell common stock or (y) an amount of cash consideration equal to the greater of (i) the fair market value of one share of GEO common stock plus $6.00 or (ii) the fair market value of 1.3 shares of GEO stock, subject to certain limitations. Assuming the merger closes on August 12, 2010, the fair market value of GEO common stock for determining the cash consideration to be received in the merger for each share of Cornell stock would be $21.58, which was calculated based upon the average closing price of GEO common stock on the ten trading days between July 15, 2010 and July 28, 2010. Therefore, the cash consideration would be $28.054 for each share of Cornell common stock. The cash consideration per share could change if the merger does not close as expected on August 12, 2010.
Cornell Companies, Inc. is a leading private provider of corrections, treatment and educational services outsourced by federal, state and local governmental agencies. Cornell provides a diversified portfolio of services for adults and juveniles, including incarceration and detention, transition from incarceration, drug and alcohol treatment programs, behavioral rehabilitation and treatment, and grades 3-12 alternative education in an environment of dignity and respect, emphasizing community safety and rehabilitation in support of public policy. At June 30, 2010, the Company had 68 facilities in 15 states and the District of Columbia and a total service capacity of 21,392.
Oteegee Innovations Inc. (OTCBB:OTGI) recently reported that Grail Semiconductor is making significant progress in bolstering its IP rights and claims regarding unauthorized use of its technology in the $250 billion Semiconductor industry. In addition, Grail has prepared and submitted petitions to revive previously abandoned patent applications, and to pursue additional patent protection. In June 2007, Grail filed L.A.S.C. Case No. BC 372834 against a multi-billion dollar international corporation for violation of a confidentiality agreement and misappropriation of its intellectual property. Grail’s management and its litigating attorneys are proceeding with confidence of success on all fronts.
Grail has patented and is prepared to develop and market chips and products embodying a fundamental breakthrough in semiconductor technology, referred to as QIC-Chip��. The patents include a new memory cell and new timing circuitry that can combine and enhance the features and functions of SRAM, DRAM, and FLASH-type memories, and is believed to be fundamental to a revolutionary new super powerful and very energy efficient QIC CPU, integrated with massive amounts of QIC memory. This innovative technology could revitalize the semiconductor industry and expand its theoretical and practical limits. The advent of Grail’s quantum inductive capacitor and timing circuitry (QIC Chip) is apropos to the advent of revolutionary new across platform distributive operating systems.
Upon completion of the LOI, OTGI will acquire Grail Semiconductor and its litigation rights for damages from unauthorized use of its technologies. OTGI will also hold the North American marketing and distribution rights to Grail’s technologies. Through OTGI’s acquisition of Oteegee International, OTGI also owns 40% of the international marketing and distribution rights.
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