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Pastimes : Plastics to Oil - Pyrolysis and Secret Catalysts and Alterna
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To: scion who wrote (4544)1/11/2011 7:48:09 AM
From: scionRead Replies (1) of 53574
 
310 Holdings will be filing a Prospectus with the Ontario Securities Commission in order to facilitate future private placements within the Province of Ontario, and a Regulation D filing with the SEC.

310 Holdings Inc. Announces Detailed Update for All Shareholders and Prospective Investors On the Definitive Agreement

NIAGARA FALLS, Ontario, July 15, 2009 (GLOBE NEWSWIRE) -- 310 Holdings Inc. (OTCBB:TRTN) today announced that it completed a definitive agreement to acquire and continue tape data migration and transcription services of John Bordynuik Inc., an agreement that was signed on June 25, 2009.

With this agreement, 310 Holdings Inc. purchased certain assets of John Bordynuik Inc., including its custom tape processing hardware, its Swahili data migration system, fixed assets, and its current customer base. The consideration for the acquisition of the assets is shares of 310 Holdings Inc. restricted common equal to the value of the assets. An 8k is being filed shortly that includes asset details and a proforma financial statement for the tape operating profit center only.

Private Placement:

310 Holdings Inc. is also announcing a $3 million private placement for stock and long term warrants in the company. This stock will be sold at above market prices and will not dilute existing shareholders as John Bordynuik returned 10 million shares to the treasury to facilitate growth.

The capital is being raised to facilitate two future acquisitions that align with 310 Holdings Inc.'s growth model.

Management would like to note that this private placement is intended for shareholders looking to grow long-term with the Company, and not for flippers or traders. The issuance of long-term warrants along with above-market purchase prices was instituted to place the Company's stock in strong hands with those who want to assist the Company in moving to a larger exchange. 310 Holdings will be filing a Prospectus with the Ontario Securities Commission in order to facilitate future private placements within the Province of Ontario, and a Regulation D filing with the SEC.

310 Holdings Inc. will use these funds to acquire profitable companies whose owners and management are looking for stock-based incentives and/or retirement. These target companies must have consistent revenues, be are already profitable, and will benefit from an injection of the Company's technology to facilitate rapid growth.

globenewswire.com
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