Tea,
I agree with your assessment. Read the following from Syngas:
SYNGAS ENTERS FINAL STAGES OF NEGOTIATIONS FOR 100% ACQUISITION OF BEISEKER FACILITY IN ALBERTA CANADA
April 19, 2006 – Las Vegas, NV, Calgary AB – Further to the news
release dated January 19, 2006, Syngas International has learned that the
contract between Globetech Environmental and Cristallo, the owner of the
Beiseker facility, was not perfected.
Cristallo executives met with Syngas International Corp. last week and
the two companies are engaged in ongoing negotiations to finalize the
terms for Syngas to acquire 100% of the assets of the facility. This
agreement supersedes the previously announced joint venture with Beiseker
Envirotech, whereby Syngas contemplated a joint venture instead of an
outright purchase.
The facility operates as a medical waste disposal facility and the
Syngas acquisition would entail an expansion to include other wastes. The
expansion as contemplated would be initiated in stages, with the first
stage requiring Syngas to spend close to one million in upgrades to the
facility to incorporate its M2 gasification technology. The upgrades
would allow power to be generated to operate the plant, with any excess
sold back to the power grid.
“We are extremely pleased to have the opportunity to purchase the whole
facility. This purchase is the first stepping stone in achieving our
goals as announced at the end of last year. The purchase is much better
than just a joint venture as it allows us to expand incrementally with
revenue increases rather than all at once as was required under the
joint venture. It would also allow us to showcase our technology’s
versatility and revenue potential,” commented Wilf Ouellette, President of
Syngas Energy Corp. a wholly owned subsidiary of Syngas International.
About Syngas International Corp: www.syngasinternational.com
Syngas International Corp. (SYNI), through its subsidiary, Syngas
Energy Corp., is an emerging leader in the development and marketing of
low-cost alternate fuels worldwide. We believe our superior technology will
catapult our company into a GREEN POWERHOUSE. With energy prices at
high levels and the global focus moving rapidly towards addressing
pollution, the need for sustainable, zero emission energy is vital. Our
technology is based on clean renewable energy. We foresee our company poised
to benefit from global trends.
Forward-Looking Statements
Except for the historical information contained herein, the matters
discussed in this press release are forward-looking statements. Such
statements are indicated by words or phrases such as "believe," "will,"
"breakthrough," "significant," "indicated," "feel," "foresee,"
"revolutionary," "should," "ideal," "extremely," and "excited." These statements
are made under "Safe Harbor" provisions of the Private Securities
Litigation Reform Act of 1995. Actual results may differ materially from those
described in forward-looking statements and are subject to risks and
uncertainties. See Fairchild's filings with the Securities and Exchange
Commission, including, without limitation, Fairchild's recent Form
10-KSB and Form 10-QSB, which identify specific factors that may cause
actual results or events to differ materially from those described in the
forward-looking statements.
Contact:
Syngas International Corporation
Investor Relations
1-888-646-5611
www.syngasinternational.com |
