John
It looks like some of the fundementals are starting to fall into place however in this lousy market no one is paying any heed. However once the Bre-x fiasco is out of the way the market will be looking for situations just like EPO and hopefully EPO will benefit as specualtors start looking for value. Here is the news release.
Rights to B-9 film sold
Ecoprogress Canada Holdings Inc EPO
Shares issued 11,710,606 Apr 21 close $0.32
Tue 22 Apr 97 News Release
Mr Charles Tatnall reports
Ecoprogress Canada Holdings (EPO) has agreed in principle to sell its
rights pertaining to the application of B-9 film in its use as a
replacement for gelatine employed in the encapsulation of oils, dietary
supplements and pharmaceuticals. The rights have been sold to Ecoprogress
International Ltd (EIL), the licencor of B-9 film to EPO) for US$600,000 by
way of 125,000 shares at US$4.80 each in Bioprogress PLC, a UK company.
EIL is negotiating on its behalf (and other worldwide licencees) two
material joint ventures. The first proposed joint venture is with a market
leader in the provision of medical supplies to North American hospitals and
healthcare establishments. EPO and EIL will provide the joint venture
partner a comprehensive range of absorbents, wound dressings, medical
garments and solid utensils which will all be conveniently and hygienically
disposed of in the sewerage system by way of purpose built processors. The
second proposed joint venture is with the sustainable resources division of
a world leading industrial conglomerate. The nature of the proposed venture
concerns the supply of innovative materials to be employed in the company's
range of infant diapers together with the funding of the aforesaid range on
a joint venture basis.
Initial production runs of a complete range of infant diapers and adult
incontinence products is scheduled for June 1997 with large scale consumer
trials taking place in Europe and North America in July and August 1997.
EPO anticipates these products to be ready for market introduction in
September or October 1997.
The company's issued share capital is to be reduced by 2,225,000 shares
from 11,710,606 to 9,485,606 shares as a consequence of cancelling
2,000,000 stale escrow shares and the cancelling of 225,000 further shares
previously issued but not released as a part of an uncompleted and
unrelated acquisition from 1993.
(c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com |
