SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Lithos Corporation (M.lts)
LTS 3.4900.0%Feb 14 4:00 PM EST
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10PreviousNext  
To: labbe who wrote (414)5/4/2000 7:46:00 AM
From: Bob Fairchild   of 415
 
"With its first acquisition project - Limtech Secures a World-Wide
Distribution Network"
QUEBEC CITY, May 4 /CNW/ - Limtech Lithium Metal Technologies Inc today
announced that it has signed a letter of agreement to purchase a private
company complementary to its industrial business operations. The
acquisition
has a ten year history in the sale of lithium derivatives and other high
added
value fine chemicals, and its own product distribution network spanning
world-wide. The company is profitable and this could increase Limtech's
annual
revenues by about 8 million dollars.
The arm-length acquisition will be payable in Limtech stock at a rate of
0.94$ per share. The price is based on the Limtech shares value at the
close
of trading on April 14, 2000, less the 20% devaluation allowed by the
Exchange
in the case of a private placement. The number of shares that will be
issued
in return for the acquisition will be established by independent expert
valuation. Due diligence will be carried out by both parties in the
following
weeks, and independent valuation, are the main conditions to the
completion of
the transaction.
The transaction is subject to the approval of the Montreal Exchange, of
the boards of the two societies and possibly of Limtech shareholders if
the
dilution is superior to 25% of the current venture capital. Both parties
have
agreed to complete their respective due diligence by June 30, 2000. Once
the
acquisition is completed, it will enable a rapid increase in its
international
sales volume. ``This transaction reflects our corporate vision of creating
partnerships and developing additional and complementary products,''
stated
Limtech Executive Vice-President, Louis Lessard.
Limtech Lithium Metal Technologies Inc. is a company registered on the
Montreal Exchange since 1995 (LTC) that manufactures lithium carbonate
that is
world-renowned for its high purity.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News