SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Feb. 13, 1997--Phoenix Resources
Technologies Inc. (OTC:PRTI) Thursday announced the investment in Rocky
Mountain Crystal Water Inc., located in Littleton, Colo.
Management stated "that diversification is in line with the company's business in
natural resources."
Rocky Mountain Crystal Water Inc. is a company engaged in the bottling,
marketing and distribution of artesian and spring water and which maintains a
proprietary natural source that has been analyzed as one of the purest waters in the
world. The company maintains bottling operations at its bottling plant located in
Wyoming.
PRTI issued 6 million shares of its preferred, voting and convertible at the
discretion of Rocky Mountain Crystal Water Inc.'s sole option at 1 preferred to 10
common ratio. In exchange, Rocky Mountain Crystal Water Inc. issued 6 million
of their common shares to PRTI representing, 49 percent of Rocky Mountain
Crystal Water Inc., for and in consideration and in payment in full thereof.
The effective date of closing was Jan. 31, 1997, subject to contract and post
closing warranties, actions and representations of PRTI and its management. |
