Pugs, this is how I technically look at the information provided to date, per the releases.
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Nov. 20, 1997--Rocky Mountain
International Ltd. (Formerly Olympus Ventures Inc.) (OTC BB:RMIL - news) announced Thursday that Rocky Mountain Crystal Water Inc. has signed a final agreement for the funding of $10 million.
The funding is scheduled to take place before the end of November, with $5 million in equity and a $5 million loan for five years.
Rocky Mountain International Ltd. and Rocky Mountain Crystal Water Inc. has extended the equity funding clause in the Merger agreement to accommodate the date of the funding agreement.
(These are two seperate entities, and as stated above, the two companies extended the equity funding clause in the merger agreement
to accomodate the date of the funding agreement. Rocky Mountain Crystal Water and RMIL must have agreed to do this, and the equity funding was a requirement of the merger occurring. The funding has yet to occur, the merger has yet to occur, therefore RMIL is not a water bottler.)
The board of directors of Rocky Mountain International LTD. have appointed Gary R. Morgan to the position of C.E.O. of Rocky Mountain International LTD. and Roland L. Breton to the position of President of Rocky Mountain International LTD. the positions held by each prior to the merger agreement.
RMIL is a manufacturer of pure spring and premium artesian bottled drinking water and garment manufacturing. RMIL is focusing its direction on manufacturing, distribution and retailing bottled
water and physical fitness products, which the company believes is one of the fastest growing areas in the commercial marketplace.
RMIL does announce that RMCW has signed a final agreement for the
funding of $10,000,000. Is the water company signing in behalf of
RMIL and the garment business? RMIL would be signature also.
Either the wording is very poor and they are announcing indirectly that the companies have merged already and now RMCW is signature of the funding requirement, or they made a mistake and made a premature statement that they merged last month on or before the 20th of November.
Does this help clarify it better? It is confusing because of how the release is written. The merger papers should have been recorded. Title transfer... |
