ACMG Smells like CSHD CEO "Rufus" ....LOL but hey if you can make money short term who's stopping ya.
Alcar's CEO Provides Clarification on South East Asia Offer
Wednesday February 7, 9:30 am ET
MONTREAL--(MARKET WIRE)--Feb 7, 2007 -- Alexander P. Cavasin, CEO of Alcar Chemicals Group Inc. (Other OTC:ACMG.PK - News), issues an update on the acquisition offer received from the SEA consortium.
"I believe the offer tabled by our future partner warrants immediate clarification of its terms and conditions," stated Dr. Cavasin. "In a nutshell, the presently proposed terms and conditions contained in the offer do represent an acquisition of controlling interests by the consortium at a valuation of US$2.05 per share," further added Dr. Cavasin.
According to the company, this partnership between the consortium and ACMG will require four 1M gal daily ethanol plants to be built and located in Thailand and Malaysia, immediately following the completion of the 1st Canadian plant and the scale up engineering, for which, under this offer, the required financing is being provided by the consortium. Although dilution will be kept at a minimum, the consortium will gain controlling interests of ACMG. In order to move the transaction forward, Dr. Cavasin has placed all of his shares into escrow pending the closing of the proposed offer.
The company states that it is now quickly moving towards completing the LOI, which is expected to be signed on February 15th, at which time all terms and conditions will be released accordingly.
About The Alcar Group
The Alcar Chemicals Group (Other OTC:ACMG.PK - News) represents a significant market opportunity due to a serious worldwide supply shortage of raw materials for polymers as well as an increased requirement for ethanol and biodiesel. ACMG has been concentrating on innovative methods for biomass (forestry waste, agricultural waste and non-food crop) valorization for the past decade, specifically petroleum-independent fuel and plastics resin production. Its proprietary technology represents today's most economical and advanced manufacturing process for plastic raw materials, ethanol and biodiesel, allowing production at cost savings of up to 40% when compared to current production methods.
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