ACMG - The Alcard Chemicals Group, Inc. Message Board

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Gold/Mining/Energy : ACMG - The Alcard Chemicals Group, Inc.

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To: xcentral1 who wrote (45)	2/20/2007 9:33:35 AM
From: xcentral1	Read Replies (1) of 52

Alcar Chemicals Signs Acquisition Offer With South East Asian Consortium MONTREAL, Feb 20, 2007 (MARKET WIRE via COMTEX) -- Alcar Chemicals Group Inc. (PINKSHEETS: ACMG) announces today the signing of a Letter of Intent with the South East Asia consortium outlining the offer for the acquisition of the controlling interest of Alcar Chemicals Group Inc. for the consideration of $2.05 per share. According to the company, Dr. Cavasin is presently in Thailand, where he has finalized the remaining details and signed the LOI outlining the terms and conditions for the acquisition of the controlling interest of ACMG by the SEA consortium for an overall consideration of $2.05 per share. The consideration of $2.05 per share represents a total investment of $282 million to be made by the South East Asia consortium for (55%) fifty five percent ownership. The company stated that the letter of intent specifies an immediate cash investment of $7.2M dollars, which will be utilized to complete the Canadian plant and for the scale up engineering. The company expects a definitive agreement shortly, whereby the initial funds will be placed into escrow and released on closing of said agreement. Upon the signature of a definitive agreement, the name of the South East Asia group will be released as well as Dr. Cavasin's shares will also be placed into escrow and released according to milestones over a four year period. The milestones will include but are not limited to the construction and operation of (4) four full scale plants. About The Alcar Group The Alcar Chemicals Group (PINKSHEETS: ACMG) 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 bio-diesel, allowing production at cost savings of up to 40% when compared to current production methods.

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