Is there any doubt about YBM Technologies Inc. ?
Richard Lam started last year (Aug 20) a discussion on YBM Magnex Intl with an article from the Wall Street Journal. I read the talks he had after that with other members.
I am a Paris (France)-based journalist making a report on the magnet industry in Europe. I apologize for my poor English, but I'm quite interested with YBM Magnex which moved from Europe to the U.S. some time ago. As Richard earlier wrote, YBM is making 80% of its business in Europe. Its clear that YBM was a European company before moving its headquarter to Pennsylvania.
I see YBM making a lot to make analysts thinking positive toward them. But until now, I saw no one yet having doubts about this company, or having negative opinion. Sorry, but journalists sometime doubt when everything looks too clear.
Did you read about Pratecs Technologies Inc. (it used to be traded at Alberta under PTT symbol) ? It appears that this company does not exist anymore.
The following is a press release from Pratecs. I have got many more.
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PRATECS TECHNOLOGIES COMPLETES ACQUISITION
NOVEMBER 3, 1996
CALGARY, ALBERTA--PRATECS TECHNOLOGIES INC. (the "Corporation") announces the completion of the acquisition of all of the issued and outstanding common shares of YBM Magnex, Inc. ("YBM"). All 110,000,000 common shares (22,000,000 post-consolidation) issued in satisfaction of the purchase price for YBM will be held in escrow, will be non-voting while held in escrow, and will be releasable from escrow only with the written consent of The Alberta Stock Exchange.
The Corporation has received regulatory approval for a 1 for 5 share consolidation and a name change of the Corporation to YBM Magnex international, Inc. The effective date of the share consolidation and name change is November 6, 1995 and the Corporation's common shares will now trade, on the facilities of the Alberta Stock Exchange, using the new symbol of YBM.
Additionally, all conditions for the release of proceeds from the Corporation's $14,150,000 special warrant offering, completed on October 5, 1995, have been satisfied and the net proceeds have been released to the Corporation. The Corporation has filed a preliminary prospectus, in respect of the common shares issuable upon the exercise of the special warrants, with the securities regulatory authorities in the provinces of British Columbia, Alberta and Ontario.
FOR FURTHER INFORMATION PLEASE CONTACT:
Robert L. Ventresca
(905) 405-6225
(215) 348-4044
The Alberta Stock Exchange has neither approved nor disapproved of the
information contained herein.
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Any comment about this release ?
Thank you
Jean Michel |
